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#POW Power Metal Resources – Uranium Portfolio Update – Athabasca Basin

Power Metal Resources PLC (LON:POW) the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces an update on its uranium portfolio which includes seven 100% owned interests (the “Portfolio” or “Properties”) covering 411.96km2 surrounding the Athabasca Basin in northern Saskatchewan, Canada.

Further information in respect of the Properties, including a location map may be viewed in the website link below:

https://www.powermetalresources.com/project/athabasca-basin/

 

Portfolio Updates:

–    Power Metal has completed an in-depth historic data compilation across its entire uranium Portfolio surrounding the prolific Athabasca Basin, Saskatchewan, and now possesses a robust fully-digitised database covering all historic work programmes completed across the various Properties.

–    Power Metal recently retained a UK-based geological consultant with extensive Athabasca Basin experience to help push forward the Company’s various initiatives and projects within the exciting uranium space. The consultant previously completed a M.Sc. thesis from the University of Ottawa where they researched the geochemistry, alteration, and structural geology of one of the many world-class unconformity-related uranium deposits located within the Athabasca Basin.

–   Several extensive historical datasets were successfully procured, the data from which, combined with the results obtained from the recently completed Phase I work programme, will allow the Company to begin planning various 2022 exploration initiatives across the Portfolio.

–    Further maps and highlights from across the Portfolio will be released by the Company in the coming months. Select findings from the historic data compilation programme for the Tait Hill Property are however highlighted below, demonstrating the information gathered for one property.

–     Reflecting the interest shown from third parties in the Properties, a dataroom is being prepared to provide a focal point for those parties wishing to undertake due diligence review.

 

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

“Our move into uranium exploration has been planned for some time and commenced with the September 2021 staking surrounding the Athabasca Basin. The staking undertaken was highly selective, focusing on areas where historical recorded work had demonstrated uranium mineralisation or where other geological features suggested that ground would be prospective.

Although selective, the seven properties are clearly attracting some interest and we are looking at potential commercialisation options alongside planning for proactive 2022 exploration programmes.

To maximise any commercial outcome, and to optimise exploration we have gathered as much data as possible in respect of the Properties, and the information gleaned is, in our view, highly valuable.”

 

Tait Hill Property (“Tait Hill” or the “Property”) Data Compilation Highlights

–   All data from an high-resolution airborne magnetic, electromagnetic, and radiometric survey flown by Terraquest Ltd., on behalf of Canalaska Uranium Ltd., was obtained by Power Metal. The 2008 high-resolution survey included 4,290 total line-km flown at 150m line-spacing which covers the entire modern day Tait Hill Property.1

–      Detailed analysis was undertaken by Canalaska Uranium Ltd., for various radiometric products produced by the airborne survey including uranium (U), thorium (Th) and potassium (K). Specifically, isolated points in the dataset which have high U/Th ratios relative to background, are considered good candidates for uranium-rich surface showings and should be prioritised during future work programmes.1 A total of 11 unique points were identified by the survey within the Tait Hill Property.

–   The airborne survey (1st vertical derivative product) highlights multiple northwest-southeast trending magnetic high features which transect the Property. Mapping over the area determined that they correspond to uranium-rich granite and pegmatitic dykes with anomalous scintillometer readings ranging from 350 to 2,500 counts per second (“CPS”). Further investigation is warranted along these structures which are mapped for a combined 16km through the Property.2

–    Several zones of uranium-rich mineralisation were identified in the historic results from Tait Hill including rock samples up to 15,150ppm (1.52%), 7,653ppm, and 6,610ppm U, as well as uranium in soil samples up to 14,358ppm (1.44%), 7,049ppm, and 6,692ppm.2,3

–     The rock sample that returned 15,150ppm U was taken immediately west of Tait Lake, and was located along a northeast-southwest oriented uranium-rich boulder train which follows the general direction of ice movement in the region (southwest). It was recommended that additional work be completed on this boulder train as further work may lead to the possible source area for these uranium-rich boulders.2

–      A new high-priority zone was identified during the 2008 field campaign which was named the ‘NE Shearika Zone’. Here, several uranium-rich rock samples (including 7,654ppm, 6,611ppm, 3,633ppm, and 1,609ppm U) were collected along a sharp contact zone between a granitic intrusion (magnetic high) and the surrounding meta-sedimentary rocks (magnetic low). This contact zone is traced for over 3km within the Tait Hill Property.3

A map highlighting some of the results from the historic data compilation completed on the Tait Hill Property can be found at the following link:

Tait Hill Historic Data Compilation Map|Power Metal Resources plc (LON: POW)

 

Reference Notes:

1:             Operations Report for Canalaska Uranium Ltd., High Resolution Magnetic, XDS VLF-EM & Radiometric Airborne Survey Grease River Project Northern Saskatchewan: April 15, 2008

2:             Canalaska Uranium, Report on the 2007 Exploration Programme Grease River Project: July, 2008

3:             Canalaska Uranium, Report on the 2008 Exploration Programme Grease River Project: March, 2009

 

COMPETENT PERSON STATEMENT

The technical information contained in this disclosure has been read and approved by Mr Nick O’Reilly (MSc, DIC, MIMMM, MAusIMM, FGS), who is a qualified geologist and acts as the Competent Person under the AIM Rules – Note for Mining and Oil & Gas Companies. Mr O’Reilly is a Principal consultant working for Mining Analyst Consulting Ltd which has been retained by Power Metal Resources PLC to provide technical support.

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

 

Technology Minerals – Recycling Blueprint for the EV and Battery Industry a Racing Certainty?

By Arjun Thakkar and Alan Green

Along with Christmas parties, the most oft discussed topic in 2021 was almost certainly the COP26 conference, net zero carbon neutrality, sustainability, climate change and other aspirational matters pointing to an internal combustion engine free world. There’s plenty of awareness of the issues surrounding climate change and the environment, but the simple facts are that the leading economies around the world (never mind the developing nations) are woefully underprepared to tackle these issues and create the circular economy required to support sustainability.

(more…)

#POW Power Metal Resources – Uranium Exploration Update – Athabasca Basin

Power Metal Resources PLC (LON:POW) the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces its 2021 work programme results from three of its 100% owned interests surrounding the Athabasca Basin in northern Saskatchewan, Canada.

Previously on 05/11/2021 the Power Metal announced that its Phase I work programme was complete, and that additional ground surrounding the company’s Tait Hill Property was acquired. A link to the announcement can be found below.

https://www.londonstockexchange.com/news-article/POW/uranium-exploration-update-athabasca-basin/15201678

HIGHLIGHTS:

– Phase I exploration conducted over three of the seven Athabasca uranium properties, namely Tait Hill, Thibault Lake and Cleawater.

–     20 rock samples were collected for assay testing and the results demonstrate high grade uranium with the highest grade of 38,600ppm or 3.86% uranium oxide (“U308“).

–  Multiple targets have been idenfitied for follow up exploration work in 2022.

Maps demonstrating the location of sample results across the three properties may be viewed on the Company’s website through the following links:

https://www.powermetalresources.com/tait-hill-phase-1-programme-results/

https://www.powermetalresources.com/thibaut-lake-phase-1-programme-results/

https://www.powermetalresources.com/clearwater-phase-1-programme-results/

 

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

“The confirmation of high grade uranium through assay testing of rock samples samples from the recent exploration programme is extremely positive and demonstrates the value of the diligent review work undertaken when the footprint was selected for staking earlier in the year.

There is considerable interest in the Athabasca uranium opportunity and Power Metal has, in my view and as evidenced today, built a compelling uranium exploration project portfolio in the area.

We remain of an acquisitive mindset with regard to uranium properties and are currently reviewing additional Canadian and African uranium exploration opportunities.”

 

EXPLORATION PROGRAMME ADDITIONAL INFORMATION:

– A total of 20 rock samples were collected as part of the Phase I programme including eight (8) from Tait Hill, seven (7) from Thibaut Lake, and five (5) from Clearwater. All samples were analysed at the Saskatchewan Research Council laboratory in Saskatoon, Saskatchewan. Power Metal employed a uranium-exploration analytical package which includes uranium, various base/trace-metals, as well as a suite of rare-earth elements (“REEs”).

– At Tait Hill, four (4) of the Properties eighteen (18) Saskatchewan Mineral Deposit Index point (“SMDI”) uranium occurences were visited by exploration crews. Several samples returned highly anomalous uranium mineralisation including rock samples up to 4,700ppm (0.47% U308). The rocks were collected along a northeast-southwest trending line of uranium-rich boulders. Tait Lake which is centrally located within the Tait Hill Property (see map), where 308,000kg of uranium with a insitu value of US$25.6 million (c. US$28 million at US$42/lb uranium) was calculated by the Saskatchewan Mining Development Corporation following a detailed lake-sediment drilling programme completed in 1980, was not visited as part of this programme.1 The historic work programme was completed solely on Tait Lake and the calculated resource is for Tait Lake and a few of the uranium-rich lakes immediately surrounding Tait Lake, which are majority held within the current Tait Hill Property.

– Power Metal has also successfuly obtained a high-resolution magnetics, electromagnetic (“EM”) and radiometric airborne survey flown Terraquest Ltd., on behalf of Canalaska Uranium Ltd., over the entire Tait Hill Property In 2008 the 4,290 line-km survey was flown at 150m-line spacing and successfully identified ten (10) radiometric anomalies at Tait Hill which were never followed up on. In addition, several magnetic and EM anomalies and lineaments were identified which will assist the Company is planning future work programmes on the Tait Hill Property.

– At Thibaut Lake, two (2) of the Properties six (6) SMDI uranium occurences were visited by exploration crews. Several samples returned highly anomalous uranium mineralisation including rock samples up to 38,600ppm (3.86% U308), as well as five (5) of the seven (7) samples which assayed >1,100ppm U308. The extremely high-grade sample was strongly mineralised with yellow carnotite and black pitchblende and displayed strong hematite alteration. The result greatly exceeds any historic samples taken within the area and represents a new exciting discovery for the Company.

– At Clearwater, three (3) of the Properties fourteen (14) SMDI uranium occurences were visited by exploration crews. Several samples returned strongly anomalous uranium mineralisation including rock samples up to 770ppm U308, including all samples which returned greater than 200ppm U308.

– Other notable rare-earth element results include thorium (Th) up to 1150ppm and zirconium up to 1,860ppm from the Tait Hill Property, as well as base-metal results including silver (Ag) up to 31.8ppm and lead (Pb) up to 8,320ppm from the Thibault Lake Property.

The Company is very pleased with the results obtained from the Phase I work programme where only one day of prospecting was spent on each of the three Properties. Several additional uranium occurrences have yet to be prospected by Power Metal, and the data obtained during this programme, as well as additional historic data acquired by the Company as part of the now completed historic data compilation, will be crucial in allowing the Company to unlock additional value from the Portfolio during the 2022 exploration season.

Table 1: 2021 Work Programme Rock Sample Assay Results

Title

Property

U3O8 wt % *

U308 (ppm)

149626

Tait Hill

0.47

4,700

149627

Tait Hill

0.02

200

149628

Tait Hill

0.007

70

149629

Tait Hill

0.011

110

149630

Tait Hill

0.024

240

149631

Tait Hill

0.105

1,050

149632

Tait Hill

0.017

170

149633

Tait Hill

0.006

60

149634

Thibaut Lake

0.04

400

149635

Thibaut Lake

0.115

1,150

149636

Thibaut Lake

0.003

30

149637

Thibaut Lake

0.165

1,650

149638

Thibaut Lake

0.122

1,220

149639

Thibaut Lake

0.267

2,670

149640

Thibaut Lake

3.86

38,600

149641

Clearwater

0.038

380

149642

Clearwater

0.023

230

149643

Clearwater

0.043

430

149644

Clearwater

0.065

650

149645

Clearwater

0.077

770

* U3O8 Assay by ICP, SRC Geoanalytical Laboratories, Saskatoon, Saskatchewan,

Reference Notes:

1: C. E. Roy and S. A. Earle, Saskatchewan Mineral Development Corporation Exploration – Summer 1980, Grease River-Scott Lake Project, CBS 5479, 5539, 5869 (74O09-0022). December, 1980

 

COMPETENT PERSON STATEMENT

The technical information contained in this disclosure has been read and approved by Mr Nick O’Reilly (MSc, DIC, MIMMM, MAusIMM, FGS), who is a qualified geologist and acts as the Competent Person under the AIM Rules – Note for Mining and Oil & Gas Companies. Mr O’Reilly is a Principal consultant working for Mining Analyst Consulting Ltd which has been retained by Power Metal Resources PLC to provide technical support.

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

 

#POW Power Metal Resources – Golden Metal Resources – Pre-IPO Financing

pow golden

Power Metal Resources PLC (LON:POW) the London listed exploration company seeking large-scale metal discoveries across its global project portfolio, announces its wholly-owned subsidiary Golden Metal Resources Limited (“Golden Metal” or “GMT”) has completed its £750,000 Pre-IPO financing (“Financing”).

 

Golden Metal is a Nevada, USA, focused exploration and development company and is undertaking a planned listing on the London capital markets in 2022.

 

The latest exploration update in respect of Golden Metal is available through the following link:

https://www.londonstockexchange.com/news-article/POW/golden-metal-resources-exploration-update/15229671

 

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

“With Golden Metal Resources we have created an attractive Nevada, USA, focused investment opportunity, which we plan to list on the London capital markets as soon as possible.

The Nevada portfolio is carefully balanced, including the Pilot Mountain project which hosts a substantial JORC compliant tungsten focused resource, (with copper, silver and zinc in addition) which we believe has significant exploration potential and development upside.

The portfolio also includes Golconda Summit, where Golden Metal can earn a 100% interest, positioned in a neighbourhood of dramatic Carlin-style gold deposits and where our initial exploration work has indicated the potential for a significant gold discovery.

The Financing announced today means Golden Metal becomes self-financed and Power Metal will no longer be required to fund Golden Metal operations but instead will be a major strategic Golden Metal shareholder.

Alongside self-financing, Golden Metal has its own dedicated management team with broad spectrum knowledge and capabilities, and above all with the energy and focus to drive this exciting new junior exploration opportunity forward within the London markets.

 

HIGHLIGHTS:

–  Capital restructuring of Golden Metal share capital underway to enable additional shares to be issued and to amend the underlying Par Value in readiness for the planned listing of Golden Metal (“Restructuring”).

 

–  Golden Metal has raised £750,000 through a Pre-IPO financing undertaken with First Equity Limited, corporate broker, at a price of 6.67p per Golden Metal new ordinary share of 1 pence each (“Ordinary Share), which will represent 18.75% of the issued share capital of Golden Metal on completion of the Restructuring and the Financing.

 

–  50% of Financing monies will be payable to Golden Metal by 31.12.21 and 50% by 31.01.22 whereupon Financing completion will occur (“Completion”) and shares will be issued to Financing participants.

 

–  Power Metal has subscribed for £75,000 of the Financing, subscribing for 1,124,437 Ordinary Shares (“POW Subscription”).

 

–  Following the Restructuring and completion of the Financing, Power Metal will hold a total of 49,874,437 Ordinary Shares representing 83.13% of Golden Metal.

 

–  On the basis of issued share capital on completion of the Restructuring and Pre-IPO Financing the valuation of Golden Metal will be circa £4million, and Power Metal’s 83.13% holding will be valued at circa £3.33million.

 

–  The monies raised enable Golden Metal to fully self-finance its operations including IPO listing advisory costs, corporate expenses and various project expenditures.

 

–  Paul Johnson, Chief Executive Officer of Power Metal and director of Golden Metal has subscribed for £50,000 (749,625 Ordinary Shares) in the Financing.

 

–  Should Golden Metal not be listed  on a recognised stock exchange in London within 12 months of today’s date, subscribers to the Financing may elect to sell back their Golden Metal shares to Power Metal at the financing price of 6.67p, with the number of Power Metal shares to be issued based on the ten day volume weighted average price of Power Metal shares immediately prior to the 12 month anniversary (“Buyback Right”) of today’s date.  Paul Johnson, CEO of Power Metal, has elected to relinquish this Buyback Right.  Power Metal will also not hold the Buyback Right.

 

–  No warrants are included automatically with the Financing, however should warrants be offered as part of the planned IPO financing, participants in this Pre-IPO Financing will receive warrants on the same terms.

 

 

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

#TM1 Technology Minerals – UK EV battery recycling hots up with Technology Minerals

15 years from now, it is estimated there will be some 250,000 tones of spent EV battery packs, and they all have to go somewhere.

Thankfully, EV batteries aren’t nuclear waste; we can recycle them to extract raw materials and reuse those materials to make more batteries.

Like the plastic trays and milk bottles you throw in the bin, used EV batteries are recycled to separate the useful minerals from the chaff. This not only reduces our dependency on virgin materials but slashes carbon emissions in the supply chain.

The recycling process shreds the EV batteries, creating a black mass, which consists of high amounts of lithium, manganese, cobalt, and nickel metals. Those metals are refined further to create a fresh supply of rare and uncommon metals.

Battery recycling for electric vehicles includes both the main battery pack and the 12V battery, which can be lead-acid or lithium-ion.

The ultimate goal is to create a closed-loop manufacturing process. In November, Northvolt announced the world’s first 100% recycled EV battery.

UK EV battery recycling

In the UK, battery recycling facilities are relatively common, but facilities that recycle EV batteries are not. You see, EV batteries are enormous, and they have a different chemical composition to the batteries in your smartphone, requiring different recycling and refinement processes. The process is expensive and difficult.

Technology Minerals PLC, a British company, aims to change this as the UK’s first listed company to create a circular economy in the battery metals sector.

They aim to achieve this with proprietary recycling technology and a partnership agreement with a leading hazardous waste company, working closely with them to design and develop recycling facilities that can recycle EV batteries at scale.

The deal will see Recyclus Group, a 49% Technology Minerals owned company, partner with hazardous waste management and service delivery provider Slicker Recycling. The partnership will boost recycling output for lithium-ion batteries with a high level of refinement, preserving the quality of the extracted metals with great efficiency.

“There is a clear demand building as a result of this quantum shift to electrification,” says Alex Stanbury, CEO of Technology Minerals.

“We are focused on extracting raw materials required for lithium-ion batteries, whilst solving the ecological issue of spent Li-ion batteries, by recycling them for re-use by battery manufacturers.”

The demand for electrification is only going to increase, and we have to come to terms with the battery waste this will create.

The move by Technology Minerals is the first of its kind in the UK and a welcome step in the right direction for EV battery recycling.

Power Metal Resources #POW Fundraising – Paul Johnson talks to Alan Green

Power Metal Resources #POW Fundraising – Paul Johnson and Alan Green discuss junior resource stocks and the sense that the sector ‘malaise’ is starting to bottom out. We discuss the placing announced this morning, which raised just over £1m to accelerate strategic expansion. We look at developments at the Katoro Haneti JV, discuss expansion at the Athabasca uranium project near Saskatchewan and the ‘bonanza’ silver grades at the Canada Silver Peak project. Paul discusses the progress of the IPO’s, including Golden Metal and FDR and outlines upcoming developments in Q1 2022.

#POW Power Metal Plc – Financing Raises £1,050,000

pow

Power Metal Resources plc (LON:POW), the London listed exploration company seeking large-scale metal discoveries across its global project portfolio, announces the Company has raised £1.05 million through a placing  of new ordinary shares of 0.1 pence each in the Company as detailed below (the “Placing”).

 

HIGHLIGHTS:

– Power Metal raised £1.05 million at the closing market mid-price of 1.75p on 12/11/21.

– Funds raised to enable acceleration of business operations including strategic exploration activities and corporate opportunities.  

– Power Metal working capital comprising solely cash and listed investments increases to circa £3million.

 

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

 The new shares issued in the Placing undertaken by the Company represents dilution of just 4.5% of current issued share capital and adds a material further cash resource into the Company at this opportunistic time. 

Power Metal has maintained a strong working capital position throughout 2021, notwithstanding significant investment in exploration and corporate development.  The Company is now at a key point where extensive exploration activities are underway and corporate activities are intensifying.

The Placing will allow the Company to expand its exploration budgets, accelerate corporate work and complete on a number of new initiatives.

The Power Metal board have been unable to participate in this Placing as we are actively involved in a number of initiatives that due to the possession of potentially price sensitive information would preclude us from buying the Company’s shares at this time.”

 

FINANCING DETAILS

–   The Company has  raised £1,050,000 through the issue of 60,000,000 new ordinary shares of 0.1p each (“Placing Shares”) at an issue price of 1.75p, the closing mid-market price on 12 November 2021.

– Each Placing Share will have an attaching warrant to subscribe for a further new ordinary share of 0.1p each (“Ordinary Share”) at an exercise price of 3.5p each with a two year term from the admission of the Placing  Shares (“Placing Warrant”) creating 60,000,000 Placing Warrants.

– Should the Power Metal share price exceed a volume weighted average share price of 10p for ten trading days Power Metal may issue a written notice to Placing Warrant holders providing ten trading days to exercise the Placing Warrants and ten further trading days to make payment of exercise monies or the Placing Warrants may be cancelled.

–    The Placing was undertaken by the Company’s Joint broker First Equity Limited.Power Metal will issue First Equity Limited 6,000,000 warrants to subscribe for Ordinary Shares on the same terms as the Placing Warrants.

 

ADMISSION AND TOTAL VOTING RIGHTS

Application will be made for the 60,000,000 Placing  Shares to be admitted to trading on AIM which is expected to occur on or around 13 December 2021 (“Admission”). The Placing Shares will rank pari passu in all respects with the ordinary shares of the Company currently traded on AIM.

Following Admission, the Company’s issued share capital will comprise 1,403,339,987 ordinary shares of 0.1p each. This number will represent the total voting rights in the Company and may be used by shareholders as the denominator for the calculation by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority’s Disclosure and Transparency Rules.

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

#POW Power Metal Resources – Notification of Major Shareholding

pow

Power Metal Resources TR-1: Standard form for notification of major holdings – Thor Mining Plc now holds 3.62% (1,341,839,837 shares)

 

TR-1: Standard form for notification of major holdings

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 :

Power Metal Resources 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

Thor Mining Plc

City and country of registered office (if applicable)

London, England

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

Name

JIM Nominees Limited

City and country of registered office (if applicable)

London, England

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

8.11.21

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

10.11.21

 

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 of issuer vii

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

3.62%

3.62%

1,341,839,837

Position of previous notification (if

applicable)

N/A

N/A

N/A

 

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached viii

A: Voting rights attached to shares

Class/type of
shares

ISIN code (if possible)

Number of voting rights ix

% of voting rights

Direct

(Art 9 of Directive 2004/109/EC) (DTR5.1)

Indirect

(Art 10 of Directive 2004/109/EC) (DTR5.2.1)

Direct

(Art 9 of Directive 2004/109/EC) (DTR5.1)

Indirect

(Art 10 of Directive 2004/109/EC) (DTR5.2.1)

GB00BYWJZ743

48,618,920

3.62%

SUBTOTAL 8. A

48,618,920

3.62%

 

 

B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))

Type of financial instrument

Expiration
date
 x

Exercise/
Conversion Period
 xi

Number of voting rights that may be acquired if the instrument is

exercised/converted.

% of voting rights

SUBTOTAL 8. B 1

 

 

B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))

Type of financial instrument

Expiration
date
 x

Exercise/
Conversion Period 
xi

Physical or cash

settlement xii

Number of voting rights

% of voting rights

SUBTOTAL 8.B.2

 

 

 

9. Information in relation to the person subject to the notification obligation (please mark the

applicable box with an “X”)

Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer xiii

X

Full chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held starting with the ultimate controlling natural person or legal entity
 xiv (please add additional rows as necessary)

Name xv

% of voting rights if it equals or is higher than the notifiable threshold

% of voting rights through financial instruments if it equals or is higher than the notifiable threshold

Total of both if it equals or is higher than the notifiable threshold

10. In case of proxy voting, please identify:

Name of the proxy holder

The number and % of voting rights held

The date until which the voting rights will be held

11. Additional information xvi

Place of completion

Adelaide, Australia

Date of completion

10.11.2021

#POW Power Metal Resources – Notification of Major Shareholding

pow

Power Metal Resources TR-1: Standard form for notification of major holdings – Mohamed Zafar Quraishi now holds 3.186% (1,343339,987 shares) up from 2.95%

TR-1: Standard form for notification of major holdings

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 :

Power Metal Resources 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

Mohamed Zafar Quraishi

City and country of registered office (if applicable)

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

Name

City and country of registered office (if applicable)

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

09/11/21

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

11/11/21

 

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 of issuer vii

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

3.186%

3.186%

1,343,339,987

Position of previous notification (if

applicable)

2.95%

2.95%

 

 

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached viii

A: Voting rights attached to shares

Class/type of
shares

ISIN code (if possible)

Number of voting rights ix

% of voting rights

Direct

(Art 9 of Directive 2004/109/EC) (DTR5.1)

Indirect

(Art 10 of Directive 2004/109/EC) (DTR5.2.1)

Direct

(Art 9 of Directive 2004/109/EC) (DTR5.1)

Indirect

(Art 10 of Directive 2004/109/EC) (DTR5.2.1)

GB00BYWJZ743

Ordinary Shares

 

42,797,699

3.186%

SUBTOTAL 8. A

 

 

B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))

Type of financial instrument

Expiration
date
 x

Exercise/
Conversion Period
 xi

Number of voting rights that may be acquired if the instrument is

exercised/converted.

% of voting rights

SUBTOTAL 8. B 1

 

 

B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))

Type of financial instrument

Expiration
date
 x

Exercise/
Conversion Period 
xi

Physical or cash

settlement xii

Number of voting rights

% of voting rights

SUBTOTAL 8.B.2

 

 

 

9. Information in relation to the person subject to the notification obligation (please mark the

applicable box with an “X”)

Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer xiii

X

Full chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held starting with the ultimate controlling natural person or legal entity
 xiv (please add additional rows as necessary)

Name xv

% of voting rights if it equals or is higher than the notifiable threshold

% of voting rights through financial instruments if it equals or is higher than the notifiable threshold

Total of both if it equals or is higher than the notifiable threshold

10. In case of proxy voting, please identify:

Name of the proxy holder

The number and % of voting rights held

The date until which the voting rights will be held

11. Additional information xvi

Place of completion

London, UK

Date of completion

11/11/21

#POW Power Metal Resources – Katoro Gold Update – Haneti Nickel Project

Power Metal Resources PLC (LON:POW) the London listed exploration company seeking large-scale metal discoveries across its global project portfolio,  draws  investors’ attention to the announcement issued today by Katoro Gold plc (LON: KAT)(“Katoro Gold”)(“Katoro”).

The Katoro announcement may be viewed through the following link:

https://polaris.brighterir.com/public/katoro_gold/news/rns/story/wklg9dx

 

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

“Power Metal is eager to see drilling commence at the Haneti Project targeting a large scale nickel and platinum group element (PGE) discovery.  The Company is therefore pleased to see our partner Katoro Gold raise money for this purpose.

We look forward to further announcements with regard to the planned drill programme and are working with Katoro in this regard.”

POWER METAL – HOLDING IN KATORO

Power Metal Resources currently holds 10,000,000 Katoro shares and 10,000,000 warrants in Katoro Gold exercisable at 1.25p    (2,500,000 warrants expiring on 15 March 2022 and 7,500,000 warrants expiring on 15 May 2022).    

POW also has a direct 35% interest in the Haneti Project in Tanzania.

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

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