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Alan Green talks to CEO Paul Johnson. We cover the drilling campaign at the Molopo Farms Complex project in Botswana, before Paul covers recent developments at the Tati Gold project, also in Botswana. We then look at developments in Canada, both at the group’s Athabasca Uranium project and the new Lithium project acquisition, before we turn to the upcoming IPO’s including Golden Metal Resources and First Development Resources. Paul looks at what the Christmas period will hold for the POW team and the likely news flow over the Xmas period and into the new year.
Alan Green talks to CEO Paul Johnson. We cover the drilling campaign at the Molopo Farms Complex project in Botswana, where nickel sulphides have been identified, before Paul covers the bonanza gold grades announced this week at the Tati Gold project, also in Botswana. We then look at developments at the group’s uranium assets, including the development of Uranium Energy Exploration, before with turn to the upcoming IPO freight train, including Golden Metal Resources, First Development Resources and the New Ballarat Gold Company. Paul looks at what the IPO’s will mean for the POW balance sheet, before covering some of the other key upcoming value inflection points.
A number of developments over the summer months, particularly the discovery at the Molopo Farms project in Botswana, has seen huge amounts of investor interest in Power Metal Resources #POW, plus as we’ve seen already with First Class Metals #FCM, the POW project spinout and IPO strategy is already reaping dividends. Paul covers the latest developments at the Molopo Farms drilling campaign, before looking at the company’s fast growing uranium portfolio. We look at progress on the other upcoming IPO spinouts, including Golden Metal Resources #GMT and First Development Resources #FDR, and then Paul discussed the latest Berringa mine acquisition at the New Ballarat Gold Company. We finish with 3 points for investors to weigh up when looking at a potential POW investment.
Alan Green talks to Golden Metal Resources #GMT CEO Oliver Friesen ahead of the IPO. Following an overview of the company and projects, at 4:40 Oliver discusses slides from the Pilot Mountain Tungsten Project, the MRE of 12.53Mt of Tungsten and the recent IP survey. At 11:24 we move onto the Golconda Gold & Copper project and initial exploration programme, before moving onto the geochemistry survey at the Garfield copper and gold project at 17:50. We wrap up with a summary of the Stonewall project targets at 21:20, and what investors can look forward to.
Alan Green talks to Paul Johnson about today’s Quarterly Business Update. Paul provides background on today’s statement, and covers all the projects and developments outlined in the RNS, and with a view to the future, he talks through some upcoming events for investors to watch out for.
Power Metal Resources PLC (LON:POW) the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces an update from Golden Metal Resources PLC (“Golden Metal” or “Golden Metal Resources”), the Company’s 83.13% owned subsidiary, which is planning to list in the London capital markets.
Golden Metal holds a 100% interest in three projects (Pilot Mountain, Garfield and Stonewall) and a right to earn-in to a 100% interest in one further project (Golconda). All projects are situated in Nevada USA, ranked number 3 in the Fraser Institute Survey of Mining Companies 2021 – Investment Attractiveness Index.1
– 3D induced polarisation (“IP”) survey over Pilot Mountain project is now underway, a significant milestone, enabling a more detailed assessment of high priority targets, with follow up drilling planned to commence later this year to target additional tungsten, copper, silver and zinc resources.
– Detailed planning has been undertaken for initial exploration programmes at the Golconda project, including utilising historical datasets which would expedite exploration plans and targeting a gold discovery in the known Carlin-type geological environment surrounding Golconda.
– High resolution soil geochemical survey currently underway across the Garfield project targeting additional copper-gold-silver mineralisation and building on the significant evidence of skarn-type mineralisation established to date which led to the staking of additional claims expanding the project.
– Detailed desktop study undertaken for the Stonewall project has identified multiple targets for follow up exploration programmes.
· The most complex area of the pre-IPO process has been undertaken, namely the removal of the various Australian subsidiaries from the holding company structure of the Pilot Mountain Project. Golden Metal Resources plc now has 100% ownership of the two US private companies holding the Pilot Mountain project.
· The re-registration of Golden Metal to a PLC was completed earlier this year, the pre-IPO funds were received in full, and the key technical work streams (Competent Person’s technical reporting, legal due diligence, financial accounting due diligence and multiple related work streams) have now been progressed successfully.
· Golden Metal is in the final stages of finalising its inaugural Environment Social and Governance (“ESG”) report, demonstrating to the market that it plans on being an ESG leader in the resource exploration and development space.
· Following the United States Geological Survey (“USGS”) including tungsten in its 2022 list of critical minerals (released February 2022), Golden Metal is making progress building connections with various governmental groups in the USA, in order to increase the awareness of its projects, notably Pilot Mountain, and exposing the company to various governmental initiatives to stimulate the production of homeland based critical metal projects.
· The preparations for Golden Metal’s listing on the London capital markets are now nearing completion and Golden Metal expects to be in a position shortly where it can move towards the launch of its Initial Public Offer (“IPO”) financing and subject to regulatory approvals, complete its listing process.
Following the reorganisation of the Pilot Mountain holding company structure the new Golden Metal organisation structure may be viewed on the Golden Metal website through the following link:
Paul Johnson, Chief Executive Officer of Power Metal Resources PLC, commented:
“Since our last report earlier this year Golden Metal has made extensive progress and is now in the final stages of preparation for its planned listing. This has been a complex process where we have removed the Australian holding companies for the flagship project, Pilot Mountain, and structured its ownership more appropriately, particularly when it comes to seeking project engagement with the USA authorities and the private sector, as a wholly owned subsidiary of a UK company.
We look forward to Golden Metal taking the final steps towards its planned listing in the London capital markets, where we believe it will attract considerable investment interest.”
Oliver Friesen, Chief Executive Officer of Golden Metal Resources PLC, commented:
“The team at Golden Metal Resources has done a fantastic job over the past several months preparing the company for our listing on the London capital markets. Not only have we achieved several important corporate milestones, but we have been able to launch exploration on the ground allowing us to push forward some of the exciting 100% owned projects in the Golden Metal portfolio.
We are starting to see a very important shift happening globally, and specifically in the United States of America where governments are not only realising the importance of securing domestic sources of critical metals such as tungsten – but actively making policy changes in order to support companies who are exploring and developing these strategic projects.
Our 100% owned Pilot Mountain project is now held within a simplified corporate structure, we have officially launched a very exciting IP geophysics programme and have begun preparations for a robust diamond drilling campaign planned for later in the year. All of these factors combined have our team very excited about what is in store for Golden Metal Resources during the second half of 2022 and beyond.”
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.
New UK Investor Magazine Podcast – UK GDP, Wetherspoons #JDW, Golden Metal Resources #GMT, Power Metal Resources #POW, Mode with Alan Green
Alan Green joins the UK Investor Magazine Podcast for our weekly instalment of markets and Uk equities.
UK GDP rose 0.5% in May dispelling fears about an impending recession, for now. The impact of bank holidays and a boost in travel spending drove the boost, despite ongoing fears of a cost of living crisis.
We look at the current playbook for inflation and a potential snap back in markets.
However, the boost in economic activity was missed by Wetherspoon that suffered a contraction in sales, albeit an improvement on prior quarters declines. The demographics of the Wetherspoon customer may be to blame as their core ale sales suffer while spirits grew.
Bitcoin app Mode has had a torrid year during the crypto crash and we discuss recent activity at the activity. Revenue nearly tripled in 2021 but increases in their expenses meant continued cash burn.
Golden Metal Resources is set for a spin out from Power Metal Resources and help crystalise valuation creation by the parent company. We outline the Golden Metal Resources portfolio and progress of the IPO.
Alan Green talks to Paul Johnson about the ongoing challenges facing the junior resource sector in the markets at present. Paul then outlines the terms of the sale of Kanye Resources to Kavango Resources, and discussed the developments this week in Victoria, Australia with the New Ballarat Gold Corp. Paul then updates on the latest developments with the upcoming IPO’s for First Class Metals, Golden Metal Resources and First Development Resources, plus the planned IPOs for other projects. We finish with a personal message from Paul to all shareholders.
In a very frank interview, Paul Johnson discusses the challenges facing the junior resource sector in the markets at present, while reminding us that behind the scenes there is a solid and fast growing business operated by a dedicated team. Paul then updates on the latest developments at the company’s portfolio of projects around the globe, before running through the upcoming IPO’s for Golden Metal Resources, FDR and FCM, and planned IPOs for other projects. We finish with a summary of upcoming milestones for investors to watch out for, ending with a personal message from Paul to all shareholders.
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