Power Metal Resources #POW Completes Sale of Schreiber-Hemlo Interests to First Class Metals Ltd, which plans to list in London in Q4 2021

Power Metal Resources plc (LON:POW), the London listed exploration company seeking large-scale metal discoveries across its global project portfolio, announces completion of the sale of its Schreiber-Hemlo project interests located in Ontario, Canada, to First Class Metals Ltd (“First Class” or “FCM”).

The terms of the transaction were agreed on 07/09/21 and the related announcement may be viewed through the link below:

https://www.londonstockexchange.com/news-article/POW/sale-of-schreiber-hemlo-interests/15125039  

Power Metal has arranged for the transfer of Schreiber-Hemlo claims held by its wholly-owned Canadian subsidiary Power Metal Resources Canada Inc (“Power Metal Canada”) to FCM’s wholly owned Canadian subsidiary.

Power Metal Canada has been issued with 333,334 FCM shares at a price of £3 per share for total consideration of £1 million.

Power Metal has also now subscribed for 9,588 shares in the pre-IPO financing of FCM at £3 per FCM share.  The total subscription value of £28,764 has been paid to FCM.

Power Metal now has an interest in 342,922 FCM shares representing circa 36.1% of FCM after allowance for the pre-IPO fundraise shares issued by FCM.

Latest updates on FCM’s progress may be viewed through the FCM website and the following link:

https://www.firstclassmetalsplc.com/mining-news

Whilst it is the intention of FCM to pursue a listing on a recognised stock exchange in London targeted for late 2021, there is no guarantee that the IPO of FCM will proceed, whether it will be able to raise additional equity funding or at what price it will issue new shares to potential investors.

Paul Johnson, Chief Executive Officer of Power Metal Resources plc commented:

“Completion of this transaction sees Power Metal hold a significant interest in FCM, and we look forward to FCM’s progress with exploration and corporate activities in the weeks and months ahead.

Notably we look forward to the planned listing of FCM on the London capital markets and the value generative opportunity this could present for Power Metal.

This is the first completed corporate disposal/spin-out event for the Company, with a number of other potential spin-out transactions currently in progress. 

The Power Metal business is focused on exploration to secure major metal discoveries, however our corporate disposal/spin-out developments have the potential to dramatically build our working capital and provide considerable financial backing to our significant exploration ambitions across the portfolio.”

ABOUT FIRST CLASS METALS

First Class Metals Limited i s a minerals exploration company focused on proving and developing the significant potential of their flagship property North Hemlo as well as systematic exploration of the Esa, Sugar Cube, McKellar, Magical, Enable and Coco East projects, totalling 176km² in the Hemlo – Harte gold mines region in the Western portion of the Wawa-Abitibi Gold Belt of Ontario, Canada

Geologically the claim blocks are located within the Schreiber-Hemlo Greenstone Belt with target minerals gold, silver, base and battery metals in typical Archaean / Hemlo style mineralised settings.

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/ or contact:

Power Metal Resources plc

Paul Johnson (Chief Executive Officer)

+44 (0) 7766 465 617

SP Angel Corporate Finance (Nomad and Joint Broker)

Ewan Leggat/Charlie Bouverat

+44 (0) 20 3470 0470

SI Capital Limited (Joint Broker)

Nick Emerson                                                                                                           

+44 (0) 1483 413 500

First Equity Limited (Joint Broker)

David Cockbill/Jason Robertson

+44 (0) 20 7330 1883

Notes to Editors:

Power Metal Resources plc (LON:POW) is an AIM 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 and base metal exploration in North America, Africa 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.

Kavango Resources #KAV Raises £38,977 in warrant exercises

kavKavango announces it has received notices to exercise warrants over 1,431,818 new ordinary shares of 0.001 each in the Company.

The Warrant Shares are being issued pursuant to the exercise of 1,250,000 warrants granted and announced on 15 April 2020 and 181,818 warrants granted and announced on 1 December 2020. Subscription monies of 38,977.27 have been received by Kavango in respect of these exercises.  

Admission and Total Voting Rights

Application will be made for the Warrant Shares to be admitted to the Standard List segment of the Official List and to trading on the main market of the London Stock Exchange plc (“Admission”).  It is expected that Admission will become effective and that dealings in the Warrant Shares will commence at 8.00am on or around 21 October 2021.

Following Admission, the total issued share capital of the Company will consist of 406,358,959 Ordinary Shares. Therefore, the total number of voting rights in the Company following Admission will be 406,358,959 and this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest, in the share capital of the Company. 

An updated Total Voting Rights announcement will be made by the Company following admission, in accordance with the requirements of DTR 5.6.

Further information in respect of the Company and its business interests is provided on the Company’s website at  www.kavangoresources.com  and on Twitter at #KAV.

For further information please contact: 

Kavango Resources plc   

Ben Turney

bturney@kavangoresources.com

First Equity (Joint Broker)

+44 207 374 2212

Jason Robertson 

SI Capital Limited (Joint Broker) 

+44 1483 413500

Nick Emerson

Alan Green talks about #DEST Destiny Pharma, #BIDS Bidstack & #BRES Blencowe Resources

 

Alan Green talks about #DEST Destiny Pharma, #BIDS Bidstack & #BRES Blencowe Resources

Listen to the Podcast – https://www.voxmarkets.co.uk/articles/alan-green-talks-about-destiny-pharma-bidstack-blencowe-resources-8eb524a/

#MSMN Mosman Oil & Gas – Stanley-5 well update

Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development, and production company, announces an update on the Stanley-5 well in Polk County, East Texas.

The well is now scheduled to be drilled after the current well at Winters is completed and the rig is relocated the short distance to Stanley-5.

Stanley-5 is a development well targeting the Yegua formation, at approximately 5,000 feet. Following the acquisition of Nadsoilco LLC in July this year, Mosman’s interest in this well will be c36.5%. Mosman will fund its share of the USD 350,000 drilling costs from existing cash resources.

 

John W Barr, Chairman, said: “Mosman is pleased with the current drilling activity that we had planned for this year to achieve the strategic objective of increasing production.”

Qualified Person’s Statement 

The information contained in this announcement has been reviewed and approved by Andy Carroll, Technical Director for Mosman, who has over 35 years of relevant experience in the oil industry. Mr. Carroll is a member of the Society of Petroleum Engineers.

 

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (‘MAR’) which has been incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service (‘RIS’), this inside is now considered to be in the public domain.

Enquiries:

Mosman Oil & Gas Limited 

John W Barr, Executive Chairman Andy Carroll, Technical Director

jwbarr@mosmanoilandgas.com acarroll@mosmanoilandgas.com

NOMAD and Broker

SP Angel Corporate Finance LLP

Stuart Gledhill / Richard Hail / Adam Cowl

+44 (0) 20 3470 0470

Alma PR

Justine James / Joe Pederzolli

+44 (0) 20 3405 0205

+44 (0) 7525 324431

mosman@almapr.co.uk

Joint Broker

Monecor (London) Ltd trading as ETX Capital Thomas Smith

020 7392 1432

#ORPH Open Orphan – Inside the quarantine lab where Irish company infects humans with Covid

open orphan

 

Step into the foyer of the Whitechapel Hotel in London and it seems no different from any other business. But venture further in, and it becomes clear that something very strange is going on in this former textile factory.

Biohazard signs on each floor warn observers not to enter. Next to the double beds in the bright and modern en-suite rooms are white trolleys containing swabs, vials, gloves and other medical paraphernalia. Peepholes on the doors are not there so that guests can look out into the corridor.

Instead, they are reversed for safety reasons.

This former hotel, a victim of the Covid pandemic, has been transformed into a 19-bed quarantine facility used to house volunteers taking part in human challenge studies – specialist clinical trials where people are infected with a virus or bacteria to see how they respond to experimental vaccines or treatments.

Link here for the article

Link here for the full Sunday Telegraph article

Quoted Micro 18 October 2021

AQUIS STOCK EXCHANGE

Good Energy (GOOD) has followed the lapsed Ecotricity bid with a nine-month trading statement saying that the renewable energy supplier is on course to meet full year expectations. Good Energy is more than 90% hedged for the next 12 months, so there is limited exposure to the current price volatility. Price rises have been implemented. The 0.75p a share interim dividend is payable on 29 November and the ex-dividend date is 21 October. Finance director Rupert Sanderson has sold 14,800 shares at 335p each, while chief executive Nigel Pocklington bought 7,500 shares at 351.666p each.

Walls and Future REIT (WAFR) is engaging with new investors so that there are buyers for the 10% of the share capital where investors are not long-term holders. This is holding back the share price and causing the high discount to NAV, according to management. The company has completed the design of its autism friendly housing.

CBD products supplier Voyager Life (VOY) generated revenues of £65,000 from incorporation to the end of September 2021. Monthly overheads are less than £50,000. There is £1.8m in the bank. New stores are opening in Edinburgh and Dundee.

Yooma Wellness Inc (YOOM) has acquired CBD products manufacturer N8 Essentials for 1.17 million shares issued at 67.3 cents a share. N8 has a 14,000 square foot manufacturing facility in Kansas. This will enable more group production to be brought in house.

Sativa Wellness (SWEL) has launched an online telemedicine service. This enables patients to follow up tests with a virtual medical consultation.

KR1 (KR1) is participating in the Kintsugi crowdloan and Kusama (KSM) parachain auction. KR1 contributed 5,000 KSM to the crowdloan.

Altona Natural Resources (ANR) has started drilling at the Monte Muambe project in Mozambique. This will improve the understanding of the geological model and test four newly identified targets.

The requisition for a general meeting at British Honey (BHC) has been withdrawn. Richard Day has been reappointed chairman and Mark Gamble as an executive director. Alex Maurice has stepped down from the board but continues to be employed by the company.

Hydro Hotel Eastbourne (HYDP) non-exec director CP Freeman has bought 800 shares at 884p each. David Evans has a 7.61% stake in Oberon Investments (OBE).

The SFO has ended its investigation into people associated with Watchstone Group (WTG) when it was known as Quindell.

AIM

Light Science Technologies (LST) is a contract electronics manufacturer and a developer of controlled environment agriculture technology, which joined AIM on 15 October. The agricultural technology being developed helps farmers to maximise crop productivity and monitor the growing environment. The company’s LED lighting range is called nurturGrow Luminaire and the nurturGROW sensor is being developed. There was £5m raised at 10p a share and the price ended the first day at 11.5p. The cash raised in the flotation will be used to expand facilities and increase marketing.

Floorcoverings manufacturer Victoria (VCP) has achieved record interim earnings. The UK has been a strong market, but Australia has been tougher. The full year outcome is likely to be ahead of expectations. Peel Hunt has upgraded its full year pre-tax profit forecast from £58.3m to £65m.

Branded furnishings and wallcoverings supplier Sanderson Design Group (SDG) improved interim pre-tax profit by 22% to £6m on a 48% increase in revenues. North American and UK sales were strong, and the manufacturing business bounced back. Management plans to generate more income from the archive of past patterns and designs. Net cash is £15.4m. Sanderson is on course to achieve an increase in full year pre-tax profit from £7.1m to £10.9m.

Eqtec (EQT) plans to acquire a 5MW project in Drama, Greece, which will generate energy from forestry waste. Financial close should be achieved for the project in the third quarter of 2022. There is also an additional £2.1m of investment in the North Fork project in California, which increases the stake from 10% to 49%. The 2MW biomass to energy project has been delayed due to fires and Covid. A $4.5m convertible loan facility has been provided to the development.

CyanConnode (CYAN) says interim revenues were £4.1m and it is well on the way to £9.4m of revenues for the full year. The narrowband radio frequency networks company continues to lose money, but cash levels should improve.

Motor dealer Vertu Motors (VTU) recorded record first half results despite supply problems for new vehicles. Used car prices have been rising because of the shortage of new vehicles. In the six months to August 2021, revenues increased from £1.2bn to £1.92bn. Underlying pre-tax profit soared from £4.7m to £51.8m, which is more than treble the first half of 2019-20. Net cash is £57.3m. The interim dividend has been re-established at 0.65p a share. The net tangible asset value is 61.5p a share.

High street sales recovered at fishing tackle retailer Angling Direct (ANG) despite being closed in the first ten weeks of the first half and online sales continued to grow. In the six months to July 2021, revenues improved from £32.1m to £38.4m with high street sales increasing by two-fifths. Online sales were 2% ahead. Pre-tax profit jumped from £1.36m to £3.72m, which includes government lockdown support. Full year pre-tax profit is expected to increase from £2.6m to £3.5m.

Driving safety technology developer Seeing Machines (SEE) has signed a framework agreement with Shell Global Solutions for its Guardian driver distraction and fatigue technology. Deployments should start later this year. Shell has 20,000 vehicles, compared with the total number of 31,771 vehicles using Guardian technology. Seeing Machines has also set up an EU sales team with a headquarters in Amsterdam.

Gresham House Strategic (GHS) has decided to change its investment manager from Gresham House Asset Management to Harwood Capital, where its previous investment manager Richard Staveley moved earlier this year, and Gresham House (GHE) has requisitioned a general meeting in order to have the company’s cash distributed to shareholders and the portfolio of investments liquidated over a 24-month period. Gresham House has a 23.3% stake in Gresham House Strategic and claims the backing of 40% of the share capital. The opposition to the move owns 30% of the company. Harwood intends to invest in the company, and it will generate lower fees, which will save the company £270,000.

Iodine company Iofina (IOF) produced 142.7 MT of crystalline iodine in the third quarter of 2021 and that underpins full year forecasts. Iodine prices continue to rise and recently hit $40/kg.

MAIN MARKET

LED lighting and wiring accessories supplier Luceco (LUCE) has acquired DW Windsor, an exterior lighting business, for £16.9m in cash. In the year to September 2021, operating profit was £1.9m.

Highway Capital (HWC) has finally found a suitable reverse takeover target, although there is no firm agreement. There will be a fundraising alongside the purchase of esports adviser and investor Guinevere Capital Esports & Entertainment. No purchase price has been announced

Oxford Cannabinoid Technologies (OCTP) has acquired medical assets from Canopy Growth Corporation, which provides access to cannabinoid derivatives and will help the company to develop additional drug projects. The lead compound OCT461201, which is a potential neuropathic pain treatment, is progressing towards clinical trials in the third quarter of 2022.

Andrew Hore

Alan Green discusses AIS Resources #AIS, MetalNRG #MNRG, Mode Plc #MODE & Cadence Minerals #KDNC on the Stockbox Research podcast

Alan Green discusses AIS Resources #AIS, MetalNRG #MNRG, Mode Plc #MODE & Cadence Minerals #KDNC on the Stockbox Research podcast

Destiny Pharma #DEST – Developing Novel Medicines that Prevent Serious Infections. Alan Green talks to CEO Neil Clark

  • Two exciting late stage clinical assets – XF-73 and NTCD-M3
  • China Medical Systems – new XF-73 programme in China
  • NTCD-M3 Phase 3 studies
  • Spore COV – JV progress and Innovate funding
  • Cash runway and upcoming value inflection points

Tertiary Minerals #TYM – Alan Green talks to MD Patrick Cullen

Tertiary Minerals #TYM – Alan Green talks to MD Patrick Cullen at the AfricaSME Conference in #Zambia

~ Pyramid #Silver #Gold latest developments

~ Brunton Pass #Copper

~ Zambia copper prospects

~ Value inflection points

 

ECR Minerals #ECR – Notification of Major Shareholding

TR-1: Standard form for notification of major holdings

 

ECR Minerals plc – TR-1: Standard form for notification of major holdings – Colin Braidwood now holds 44,201,296 shares (4.34%)

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible) i

1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached ii :

ECR Minerals Plc

1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate)

Non-UK issuer

2. Reason for the notification (please mark the appropriate box or boxes with an “X”)

An acquisition or disposal of voting rights

X

An acquisition or disposal of financial instruments

An event changing the breakdown of voting rights

Other (please specify) iii:

3. Details of person subject to the notification obligation iv

Name

Colin Braidwood

City and country of registered office (if applicable)

4. Full name of shareholder(s) (if different from 3.) v

Name

Colin Braidwood

City and country of registered office (if applicable)

5. Date on which the threshold was crossed or reached vi:

14 October 2021

6. Date on which issuer notified (DD/MM/YYYY):

14 October 2021

7. Total positions of person(s) subject to the notification obligation

% of voting rights attached to shares (total of 8. A)

% of voting rights through financial instruments
(total of 8.B 1 + 8.B 2)

Total of both in % (8.A + 8.B)

Total number of voting rights held in issuer (8.A + 8.B) vii

Resulting situation on the date on which threshold was crossed or reached

4.342%

N/A

4.342%

44,201,296

Position of previous notification (if

applicable)

N/A

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