28 April 2021 | 13:55pm
StockMarketWire.com - Power Metal Resources has acquired a 75 per cent stake in First Development Resources, an Australian copper-gold miner.
The private company holds a portfolio of exploration interests in the Paterson Province of Western Australia.
The deal is contingent on several steps.
This acquisition will not be undertaken until the Ripon Hills Project has successfully been transferred to First Development Resources and the company has been awarded an exploration licence.
The 75 per cent stake will be held by a SPAC.
Paul Johnson, CEO of Power Metal Resources, said: The acquisition announced today provides Power Metal with a strategic interest in exploration properties in the Paterson Province, Western Australia.
17 March 2021 | 08:59am
StockMarketWire.com - Mining group Power Metal Resources reported encouraging initial results from the airborne electromagnetic surveys recently flown over the South Ghanzi project in the Kalahari Copper Belt, Botswana.
The project was part of an equal strategic joint venture with Kavango Resources covering precious, base and strategic metal opportunities in the African nation.
Preliminary data plots conformed to Kavango s developing exploration models across the project, while initial results correlated encouragingly to previous exploration results, Power Metal said.
At 8:59am: [LON:POW] share price was 0p at 1.9p
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