Power Metal Resources PLC Katoro Gold Update
03 October 2019 - 4:00PM
RNS Non-Regulatory
TIDMPOW
Power Metal Resources PLC
03 October 2019
3 October 2019
Power Metal Resources plc ("POW" or the "Company")
Katoro Gold Update
Power Metal Resources plc (LON:POW) the AIM listed African
focused metals exploration and development company is pleased to
draw investors' attention to the announcement issued yesterday by
Katoro Gold plc (LON: KAT)("Katoro Gold")("Katoro").
Power Metal Resources currently holds 10,000,000 shares which
currently represents 5.90% of Katoro Gold's issued share capital.
In addition, POW also currently holds 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 25% interest in Katoro Gold's Haneti nickel
project in Tanzania, with a right to increase its interest to 35%
by a payment to Katoro Gold of GBP25,000 in cash by 15 May
2020.
Paul Johnson Chief Executive Officer of Power Metal Resources
plc commented "Katoro have announced a fundraising to advance the
Haneti project in Tanzania and for general working capital
requirements.
We are working closely with the Katoro team to review the full
extent of the Haneti project's potential which is rightly focused
on large scale nickel sulphide targets, however recent work has
also identified significant potential for Platinum Group Metals
(notably Palladium), gold, copper, lithium and rare earth
elements."
Investors wishing to view the Katoro Gold announcement may do so
through the following link:
https://polaris.brighterir.com/public/katoro_gold/news/rns/story/rdynk8r
For further information please visit
https://www.powermetalresources.com/ or contact:
Power Metal Resources plc
Paul Johnson (Executive Director) +44 (0) 7766 465 617
SP Angel Corporate Finance (Nomad and Joint Broker)
Ewan Leggat +44 (0) 20 3470 0470
SI Capital Limited (Joint Broker)
Nick Emerson +44 (0) 1483 413 500
Notes to Editors:
Power Metal Resources plc (LON:POW) is an AIM listed African
focused metals exploration and development company exploring for
the key metals used in power generation, transmission, storage and
utilisation. The Board and team of advisors, who have proven
expertise in exploration, mining and project generation, have
identified an opportunity to utilise the Company's position to
become a leader in the London market for investors to gain exposure
to the power metal commodity suite, particularly cobalt, lithium,
copper and nickel.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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