Admission to trading on OTCQB Market
13 October 2023
Golden Metal Resources plc
('Golden Metal' or the 'Company')
Golden Metal Resources PLC admission to trading on OTCQB Market
On 13/10/2023 Golden Metal was admitted to trading on the OTCQB Venture Market
Golden Metal Resources plc (AIM:GMET, OTCQB:GMTLF) is pleased to announce that its shares ("Ordinary Shares") have been approved to trade on the OTCQB Venture Market ("OTCQB") in the United States and will commence trading on the stock market at the open today, under the symbol "GMTLF".
This will not affect trading of the Company's Ordinary Shares on AIM, which will continue under the symbol "GMET", and no new Ordinary Shares have been issued through this process. The Company will continue to make all announcements and disclosures to the London Stock Exchange through the Regulatory News Service and is not subject to any Sarbanes-Oxley or US Securities and Exchange Commission reporting requirements.
Trading on the OTCQB offers enhanced investor benefits in the form of easier trading access for investors located in the U.S. and potentially greater liquidity due to a broader geographic pool of potential investors. Through trading on the OTCQB, Golden Metal will be able to engage with a network of U.S. investors ensuring that they have the same level of information and disclosure available to investors in the United Kingdom, but through U.S.-facing platforms and portals. In addition, the OTCQB trading facility will provide U.S. based investors with the ability to access the Company's Ordinary Shares in U.S. dollars during U.S. market hours.
Oliver Friesen, CEO of Golden Metal, commented:
"I am very pleased to share this significant milestone in the journey of Golden Metal as we announce the approval for our Ordinary Shares to be traded on the OTCQB Venture Market in the United States. This development marks an important step forward in our strategic vision and reinforces our commitment to expanding our global footprint with the ultimate goal of enhancing shareholder value.
"We at Golden Metal, with 100% ownership of what we believe to be the largest undeveloped tungsten deposit on U.S. soil, understand the strategic importance of our asset as the U.S. actively looks to reduce its reliance on unfriendly countries for key input metals, hence the reason for the admission to trading completed today. Importantly, the OTCQB provides us with a broader platform to reach a wider audience of investors and allows us to increase our visibility and transparency in the international financial markets."
For further information visit www.goldenmetalresources.com or contact the following:
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Golden Metal Resources plc Oliver Friesen (CEO) |
Tel: +44 (0) 20 7583 8304 |
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Cairn Financial Advisers LLP Nominated Adviser Sandy Jamieson/Jo Turner/Louise O'Driscoll |
Tel: +44 20 7213 0880 |
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First Equity Limited Broker Jonathan Brown/Jason Robertson |
Tel: +44 20 7374 2212 |
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The Projects:
Pilot Mountain Project
The Pilot Mountain project is an advanced exploration and mineral resource definition stage project located in Mineral County in western Nevada. The project covers an area of 14.80 km2 (3,656.1 acres) and is located 200km southeast of Reno and 18km east of Mina, Nevada. It is well situated for the supply of power, water and skilled labour and proximity to transport infrastructure in Mineral County and is centred around four existing mineral deposits: Garnet; Good Hope; Gunmetal and Desert Scheelite, all of which possess significant skarn-style tungsten-copper-silver-zinc mineralisation. The Pilot Mountain project consists of 176 active lode mining claims and 4 filed mill site claims. The four mill site claims filed at the former Dunham mill site have secure access to groundwater supply sufficient for the proposed project.
Kibby Basin Lithium Project
The Kibby Basin Project covers two claim packages which are prospective for lithium brine mineralisation. The southern claim package is less than 250m from a 2022 drillhole which returned a significant interval (169m) of lithium mineralisation which was determined to be open in all directions. The Project is less than 5km to the southeast of the Company's flagship Pilot Mountain Project.
Golconda Summit Project
Golden Metal is the operator of the Golconda Summit project, which is held under an earn-in right to acquire up to 100% of the project from the mineral claim owner pursuant to an option agreement. The Golconda Summit project is a drill-ready gold project located in Humboldt County and situated at the confluence of the Getchell and Battle Mountain - Eureka metallogenic trends, and consists of 44 lode mining claims, covering a total area of approximately 3.22km2 (795.4 acres) located approximately 27km east of Winnemucca.
Garfield Project
The Garfield project is a copper, gold and silver project covering 3.23km2 (797.9 acres) located in Mineral County, Nevada, approximately 14km due east of the town of Hawthorne and 120km due west-northwest of Tonopah.
Stonewall Project
The Stonewall project is an exploration stage gold-silver property prospective for epithermal gold-silver mineralisation. The property consists of 19 lode mining claims covering 1.59 km2 (392.5 acres) located on the northern flank of Stonewall Mountain, on the western edge of the Nellis Airforce Range Restricted Access Area, in Nye County, Nevada, approximately 24km south-east of the historic gold mining town of Goldfield and 60km due south of Tonopah.
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