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Power Metal (POW)

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Wednesday 05 January, 2022

Power Metal

Director Dealing

RNS Number : 5414X
Power Metal Resources PLC
05 January 2022
 

 

05 January 2022

Power Metal Resources plc ("Power Metal" or the "Company")

Director Dealing

Power Metal Resources plc (LON:POW) the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces that today, Paul Johnson, Chief Executive Officer of the Company purchased 1,000,000 ordinary shares of 0.1 pence each in the Company ("Ordinary Shares") at a price of 1.65p per Ordinary Share through his Self-Invested Personal Pension ("SIPP") (£16,500 invested). 

Following the above purchase Mr Johnson has a beneficial interest in a total of 76,000,000 Ordinary Shares, representing approximately 5.27% of the issued share capital of the Company.

 

 

PDMR Disclosure

 

The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further detail on the director's share dealing.

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

 

1.  Paul Johnson

 

 

2

 

Reason for the notification

 

a)

 

Position/status

 

 

 

1.  Chief Executive Officer

 

b)

 

Initial notification /Amendment

 

 

 

Initial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

 

 

Power Metal Resources Plc

 

 

b)

 

LEI

 

 

 

213800VNXOUPHTX53686

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

 

 

a)

 

Description of the financial instrument, type of instrument

ordinary shares of 0.1p each



Identification code

ISIN: GB00BYWJZ743



b)

 

Nature of the transaction

 

 

 

1.  Purchase of Shares

 

c)

 

Price(s) and volume(s)







Price(s)

Volume(s)




1.65p

 

1,000,000

 







d)

 

Aggregated information




- Aggregated volume

1,000,000 



- Price

1.65p



e)

 

Date of the transaction

 

 

5 January 2022

f)

 

Place of the transaction

 

 

XLON

 

Certain information contained in this announcement would have been deemed 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

 


 

NOTES TO EDITORS

Power Metal Resources plc (LON:POW) is an AIM listed metals exploration company which finances and manages global resource projects and is seeking large scale metal discoveries.

The Company has a principal focus on opportunities offering district scale potential across a global portfolio including precious, base and strategic metal exploration in North America, Africa and Australia.

Project interests range from early-stage greenfield exploration to later-stage prospects currently subject to drill programmes.

Power Metal will develop projects internally or through strategic joint ventures until a project becomes ready for disposal through outright sale or separate listing on a recognised stock exchange thereby crystallising the value generated from our internal exploration and development work.

Value generated through disposals will be deployed internally to drive the Company's growth or may be returned to shareholders through share buy backs, dividends or in-specie distributions of assets.

 

Power Metal Exploration Programmes Underway/Results Awaited

Power Metal has exploration programmes completed or underway, with results awaited, as outlined below:

Project

Location

POW %

Work Completed or Underway

Results Awaited






Alamo Gold Project

USA

Earn-in to 75%

Excavation of multiple test pits and mapping & sampling.

Field and assay results from on-site work programme.

Authier North Lithium

Canada

Earn-in to 100%

Soil & rock sampling completed

Laboratory assay results of samples collected

Ditau Project

Botswana

50%

Preparatory exploration work underway on target I10 leading to planned accelerated drilling targeting rare-earth elements and base metals

 

Field programme findings and defined drill targets for near term drilling.

Kalahari Copper Belt

Botswana

50%

Exploration programme underway across the South Ghanzi Project and further exploration at the more recently acquired South Ghanzi Extension and Mamuno licence areas

Field programme findings and defined drill targets for near term drilling

Molopo Farms

Botswana

53%1

Kavango Option to acquire an interest in local project holding company.  Option fee payable through defined work programme

Results from various work activities underway as part of the Kavango Option

Tati Gold/Nickel

Botswana

100%

Reverse circulation drill programme completed

Laboratory assay results awaited

Victoria Goldfields

Australia

49.9%

Ongoing exploration across 848km2 of granted exploration licences

 

Results from field programme including drill programme underway

Wallal Gold/Copper Project

Australia

83.33%2

Passive seismic and 2D seismic processing work programme completed

Results awaited

1 should Kavango exercise their option to acquire Kalahari Key, Power Metal interest would reduce to 40% of the Molopo Farms Complex project

2   assuming all licences held by URE Metals Pty Limited are granted as outlined in the Company's announcement of 19.11.21 resulting in the issue of First Development Resources Ltd shares to URE vendors

 

 

 

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