2021-01-27 by Proactive Australia
Power Metal Resources (CVE:PWM)(OTCMKTS:PWRMF)(FRA:OAA1) has secured an exclusive 60-day option for the potential new acquisition of copper-gold focused exploration interests in the Paterson Province in the eastern Pilbara Region of Western Australia.
The company has signed an option agreement to acquire a 100% interest in First Development Resources PTY Ltd (FDR), an Australian private company holding the Wallal Project and an option to acquire the Ripon Hills Project.
The option agreement fee of £30,000 will be satisfied through the issue of one million Power Metal new ordinary shares of 0.1 pence each in the company at an issue price of 3 pence per share.