REG - Power Metal Res. - GSAe Update

Power Metal ResourcesAnnouncement

08/08/2024 07:00

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RNS Number : 6107Z  Power Metal Resources PLC  08 August 2024

08 August 2024

Power Metal Resources PLC

("Power Metal" or the "Company")

GSAe Update

Power Metal Resources PLC (AIM:POW, OTCQB:POWMF), the London listed
exploration company with a global project portfolio, is pleased to provide an
update on its 75% owned subsidiary GSA Environmental Ltd ("GSAe").

GSAe is a highly skilled engineering and technology provider and process
licensor with over 25 years of global project experience in the remediation
and reprocessing of a wide range of industrial waste. Its world leading
technology enables the economic extraction of critical and strategic metals
from 'secondary sources' such as power station ash, refinery residues,
titanium dioxide ("TiO(2)") waste and spent catalysts. GSAe's ongoing research
into new processes is expected to lead to expansion into other products
including mining waste and tailings dumps.

Sean Wade, Chief Executive Officer of Power Metal Resources plc, commented:

"It is pleasing to see the exciting updates and workstreams across the GSAe
portfolio. The essential work being undertaken by the team provides vital
 technology in the global drive towards a greener future, and progresses the
potential for GSAe to add significant revenue contribution to the Power Metal
portfolio. With excellent projects in the pipeline and an expected increase in
contract awards, GSAe is at an exciting stage of its development.

"I look forward to providing further updates from this array of projects."

 

GSAe Project Summary

The team at GSAe has been busy developing new business, as well as following
up on recent project work, to provide solutions to remediate multiple
industrial waste streams and historic landfill sites.

A summary of current projects:

·    GSAe is working with a state owned company in Saudi Arabia on an an
initial study to process fly ash primarily for the extraction of vanadium and
nickel. This work involves detailed bench scale analysis at the laboratory in
Lincoln, combined with initial process flow and plant design drawings, and
premininary  financial calculations for plant construction and operations. As
part of this commission, GSAe is also testing samples from historic fly ash
landfill sites to provide initial solutions for the processing and extraction
of critical metals, and resultant cleaning of such sites.

With the positive results of this study and the local and regional support
that has been expressed to date, GSAe is hopeful that this work will lead to
the next phase of a much more detailed design, with construction and
commissioning work for potentially two or three plants in the coming 12 to 18
months.

 

·    An initial scoping study level report has been produced for a major
UK and European Recycling Group to install a dual purpose 20,000 tonne per
annum ("tpa") processing plant in the UK. Work has included bench scale and
pilot scale test work, initial plant design and estimates  for Capex and
Opex, and resultant profit margins for a plant able to treat two different
waste streams for the extraction of critical metals and resultant
non-hazardous materials.

GSAe is currently awaiting an update from the client for confirmation to move
to the next stage of work, which would entail full plant design combined with
final process optimisation criteria and project development, leading to the
installation of the plant. This is expected in the coming weeks.

 

·    Further to extensive historical studies and research, GSAe is
awaiting an outline scope of work from a major UK TiO(2) producer to commence
work on providing a solution for the treatment of the waste streams to negate
the need for material to go to landfill.

 

·    Initial analysis of red mud and phosphogypsum for a major mining
company in Saudi Arabia has recently been completed to provide a solution for
the extraction of critical metals and also options for finding alternate uses
for the bulk of the remaining material. A follow-up work programme is in
discussion to take research and development of solutions to the next level.

 

·    Recycling of industrial catalysts used in the petrochemical industry
is a continued issue and, with GSAe's experience in this field, discussions
are ongoing with two parties to provide a solution on how to extract critical
metals from them and render  the resulting material benign.

 

GSAe has secured nearly US$850,000 in grant funding from the UK government to
further develop the rare earth separation, purification and commercialisation
process from TiO(2) waste. GSAe is working in collaboration with the
University of Lincoln to merge the selective leaching and precipitation
process with the University's Molecular Imprinted Polymer technology purity
enhancement.

The process for recovering valuable metals has, to date, been demonstrated at
20-litre scale and is currently being scaled up to a 200-litre system through
the government grant, with the system now ordered and awaiting installation at
the Lincoln laboratory in Q3 2024. The process has also undergone preliminary
engineering to assess operating and capital costs for both a 10,000 tpa and a
nominal 150,000 tpa residue waste treatment facility, with encouraging initial
results.

GSAe is due to add an office suite to the facilities in the Boole Technical
Park, reflecting the increase in personnel and to enable more laboratory based
work to be carried out.

The team will have a booth at the UK Metals Expo conference in Birmingham on
the 11(th) and 12(th) of September, which is an opportunity to showcase the
skillset of the company and to target potential further contacts and contracts
for both UK and global development and recycling projects.

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic
law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.

For further information please visit https://www.powermetalresources.com/
(https://www.powermetalresources.com/) or contact:

 Power Metal Resources plc
 Sean Wade (Chief Executive Officer)                                             +44 (0) 20 3778 1396

 SP Angel Corporate Finance LLP (Nomad and Joint Broker)
 Ewan Leggat/Caroline Rowe                                                       +44 (0) 20 3470 0470

 Tamesis Partners LLP (Joint Broker)
 Richard Greenfield/Charlie Bendon                                               +44 (0) 20 3882 2868

 BlytheRay (PR Advisors)                                                         +44 (0) 20 7138 3204

Tim Blythe/Megan Ray

 

NOTES TO EDITORS

Power Metal Resources plc - Background

Power Metal Resources plc (AIM:POW, OTCQB:POWMF) is a London-listed metals
exploration company which finances and manages global resource projects and is
seeking large scale metal discoveries.

 

The Company has a principal focus on opportunities offering district scale
potential across a global portfolio including precious, base and strategic
metal exploration in North America, Africa, Saudi Arabia and Australia.

 

Project interests range from early-stage greenfield exploration to later-stage
prospects currently subject to drill programmes.

 

Power Metal will develop projects internally or through strategic joint
ventures until a project becomes ready for disposal through outright sale or
separate listing on a recognised stock exchange thereby crystallising the
value generated from our internal exploration and development work.

 

Value generated through disposals will be deployed internally to drive the
Company's growth or may be returned to shareholders through share buy backs,
dividends or in-specie distributions of assets.

 

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