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Power Metal Resources #POW – Result of AGM


Power Metal Resources PLC (LON:POW) the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces the results of its Annual General Meeting held today at 10am.

All 6 resolutions put to members were passed on a poll. Resolutions 1 to 5 were passed as ordinary resolutions and resolution 6 was passed as a special resolution.

The results of the poll (including proxy votes) are outlined in Table 1 below.

Paul Johnson, Chief Executive of Power Metal Resources commented:

“I would like to thank shareholders for their support today.  Three years ago we started on a road to build a unique resource exploration powerhouse. From a small team with a west- and central-African focus, we have built a global Company focused on what we consider to be the great resource jurisdictions and the key commodities the future growth of our world will require.

I have been asked recently, “what we aspire to be?”, and to cite comparators in the market. This is difficult to answer, as we simply seek to do things differently and not be like others, small or large.  Our early years saw Power Metal advance its business interests and build a portfolio positioned for a commodities cyclical bull market.  Many of our acquired business interests offer district scale exploration potential.

Our more recent activities have seen relentless exploration across our portfolio, exemplified currently by four drill programmes at various stages from launch to pending results.  Our exploration ranges from low-cost surface-based work through to the application of the latest technologies enabling deep target drilling.  Power Metal is seeking large scale metal discoveries through this exploration work.

We plan to release our quarterly report for January to March 2022 on 5 April 2022 and there, investors will see the latest position of each project.

We have a fine team of people providing an in-house broad-spectrum capability covering geology, finance, business management and communications. It is a privilege to work with such a talented group. Our team is supported daily by an exceptionally strong adviser base of consultants and professional service providers.

The junior resource market can deliver exceptional returns; however, it carries with it a great degree of risk no matter where you choose to invest.  Therefore, to those that do choose to invest in the sector, I salute you for your courage and trust that the sector, and Power Metal within it, can deliver on your expectations.

Recently we have addressed many queries from investors, large and small.  If you would like any questions answered, in line with market rules, my mobile phone number is on market announcements or please email info@powermetalresources.com.”

Table 1 – AGM Resolution Results of Poll


Votes for

% Votes Cast

Votes against

% Votes Cast

Votes withheld

Resolution 1 (Ordinary)

To receive the report and accounts for the year ended 30 September, 2021






Resolution 2 (Ordinary)

To re-appoint the auditors and authorise the directors to determine their fees






Resolution 3 (Ordinary)

To authorise the issue of 5,000,000 options to acquire ordinary shares in the Company to Edmund Shaw.






Resolution 4 (Ordinary)

To authorise the issue of 5,000,000 options to acquire ordinary shares in the Company to Scott Richardson Brown.






Resolution 5 (Ordinary)

To authorise the directors to allot relevant securities






Resolution 6 (Special)

To dis-apply pre-emption rights






As at 30 March 2022, there were 1,466,953,915 ordinary shares in issue. Shareholders are entitled to one vote per share. Votes withheld are not votes in law and so have not been included in the calculation of the proportion of votes for and against a resolution.

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