Power Metal Resources PLC Director Dealing (5414X)
06 January 2022 - 12:11AM
UK Regulatory
TIDMPOW
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") (GBP16,500 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 ordinary shares of 0.1p each
instrument, type of
instrument
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 Results Awaited
or Underway
Alamo Gold USA Earn-in Excavation of multiple Field and assay
Project to 75% test pits and mapping results from on-site
& sampling. work programme.
---------- ---------- ------------------------ ----------------------
Authier North Canada Earn-in Soil & rock sampling Laboratory assay
Lithium to 100% completed results of samples
collected
---------- ---------- ------------------------ ----------------------
Ditau Project Botswana 50% Preparatory exploration Field programme
work underway on findings and defined
target I10 leading drill targets for
to planned accelerated near term drilling.
drilling targeting
rare-earth elements
and base metals
---------- ---------- ------------------------ ----------------------
Kalahari Copper Botswana 50% Exploration programme Field programme
Belt underway across findings and defined
the South Ghanzi drill targets for
Project and further near term drilling
exploration at
the more recently
acquired South
Ghanzi Extension
and Mamuno licence
areas
---------- ---------- ------------------------ ----------------------
Molopo Farms Botswana 53%(1) Kavango Option Results from various
to acquire an interest work activities
in local project underway as part
holding company. of the Kavango
Option fee payable Option
through defined
work programme
---------- ---------- ------------------------ ----------------------
Tati Gold/Nickel Botswana 100% Reverse circulation Laboratory assay
drill programme results awaited
completed
---------- ---------- ------------------------ ----------------------
Victoria Goldfields Australia 49.9% Ongoing exploration Results from field
across 848km(2) programme including
of granted exploration drill programme
licences underway
---------- ---------- ------------------------ ----------------------
Wallal Gold/Copper Australia 83.33%(2) Passive seismic Results awaited
Project and 2D seismic
processing work
programme completed
---------- ---------- ------------------------ ----------------------
(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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