Home » Power Metal Resources (POW) » Power Metal Resources #POW – Investee Update – First Class Metals #FCM

Power Metal Resources #POW – Investee Update – First Class Metals #FCM


Power Metal Resources PLC (LON:POW), the London listed exploration company seeking large-scale metal discoveries across its global project portfolio notes announcements from First Class Metals PLC (LON:FCM) (“First Class”). 

Announcements Released by First Class

First Class released an announcement yesterday relating to a new acquisition (Sunbeam), a financing and a subscription.  

In addition, First Class have today released an announcement to report the high grade assay results from the West Pickle zone hosting a recently announced massive sulphide discovery and held in project joint venture with Palladium One Mining Inc. (TSX-V:PDM). 

Both the announcements above may be viewed on the First Class website through the following link:


Power Metal’s Interest in First Class

Power Metal and its wholly owned subsidiary Power Metal Resources Canada Ltd hold 18,516,097 First Class shares currently representing 28.19% of issued share capital (the “FCM Holding”).

The FCM Holding is subject to a lock-in agreement preventing the sale of the FCM Holding until 29 July 2023 and an orderly market arrangement for 12-months thereafter until 29 July 2024.

In addition, Power Metal holds 517,705 warrants to subscribe for a further 517,705 First Class shares at an exercise price of 10p per FCM share and with an expiry date of 29 July 2023.

Based on a mid-market share price of 14.5p at the time of writing the Power Metal FCM Holding is valued at ~£2.7million.


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