TIDMPOW

RNS Number : 9183T

Power Metal Resources PLC

27 July 2022

27 July 2022

Power Metal Resources plc

("Power Metal" or the "Company")

Quarterly Business Update

Power Metal Resources PLC (LON:POW) the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces the quarterly business update for shareholders.

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

"First Class Metals, into which we sold our Schreiber-Hemlo interests is nearing its planned listing; we recently conditionally disposed of our stake in the Botswana Kanye JV to our partner Kavango Resources; and we have Golden Metal Resources (Nevada, USA focused) nearing completion of its IPO preparations, with First Development Resources' planned listing process (Australia focused) well underway. We expect more crystallisation events to occur from our still extensive portfolio.

Crystallisation of value into strategic investments bolsters our balance sheet considerably and offers the potential for considerable capital gains, alongside providing a major pool of available working capital to the Company. However, what enthuses us even more is the future direction of the Company and the exploration potential offered from within our retained portfolio.

We would reinforce our commitment to growing a uranium focus in the Company, with the energy metal slated for a continuing resurgence as the world continues in its journey towards significantly increased reliance on nuclear power generation. Going forward, we will also focus our energy and resources on the more rapid advancement of certain retained exploration projects, including notably our two remaining Botswana interests in the Molopo Farms Complex and Tati Greenstone Belt projects."

GUIDANCE FOR READERS

The tables below include the latest position of each project and our operational plans over the course of the next three months.

Projects are grouped into the following categories to provide additional clarity to investors on the project status and near term plans:

   -      Priority exploration projects 
   -      Project disposals or IPO processes underway 
   -      Projects with next steps to be determined pending receipt of further information 

Below the project tables, additional information is provided covering new opportunities, business management, finance and compliance.

Readers are also encouraged to review Power Metal's corporate website and presentation which are regularly updated and are available through the following links:

Website: www.powermetalresources.com

Corporate Presentation: https://www.powermetalresources.com/presentation/

PRIORITY EXPLORATION PROJECTS

 
           Project                                         Latest Position & Forward Plans 
      Athabasca Uranium 
     Saskatchewan, Canada         Power Metal currently holds 7 properties 
           (Uranium)              with 3 newly acquired properties to be transferred 
           POW 100%               to it, as announced 26 July 2022 and which 
                                  together cover 721km(2) surrounding the 
                                  Athabasca Basin. 
 
                                  Detailed data compilation has been completed 
                                  and external datarooms opened for third 
                                  parties in respect of 7 properties. We have 
                                  completed hyperspectral data analysis over 
                                  4 properties with the findings leading to 
                                  the planned launch of ground exploration 
                                  at those properties shortly. 
 
                                  In addition to exploration of retained uranium 
                                  projects, the Company is working on corporate 
                                  options in relation to certain of its Athabasca 
                                  uranium interests. 
                               --------------------------------------------------------------------------------------- 
        Authier North 
        Quebec, Canada            The Company continues to monitor progress 
           (Lithium)              being made by Sayona Mining (ASX: SYA) who 
      POW earn-in to 100%         control the neighbouring Authier Lithium 
                                  Project. 
 
                                  On 12 July 2022 Power Metal announced the 
                                  decision to proceed into year 2 of the earn-in 
                                  to a 100% interest in Authier North. 
 
                                  Ground exploration plans are being finalised 
                                  with work expected to commence this quarter. 
                               --------------------------------------------------------------------------------------- 
     Molopo Farms Complex       Power Metal secured a conditional agreement 
            Project             to acquire an additional 58.7% of shares 
           Botswana             in project partner Kalahari Key Mineral 
       (Nickel - Copper         Exploration Pty Limited ("KKME") as announced 
       - Platinum Group         on 18 July 2022: 
           Element)             https://www.londonstockexchange.com/news-article/POW/kalahari-key-botswana-acquisition 
    POW: Effective Economic     /15458701 
     Interest is currently      This acquisition, conditional on regulatory 
       52.6% increasing         approval, will see Power Metal holding 87.71% 
       to 87.71% subject        of KKME which will hold 100% of the Molopo 
       to completion of         Farms Complex Project ("Molopo Farms"). 
        the KKME shares         The next step is diamond drilling to follow 
  acquisition & restructuring   up on the discovery of nickel sulphides 
      announced 18.5.22.        in the first drill campaign and seeking 
                                an economic and large-scale discovery. 
                                Planning is underway now for this next drill 
                                programme which, subject to completion of 
                                the agreement to acquire an additional 58.7% 
                                of shares in KKME, we expect to commence 
                                in the autumn. 
                                Simultaneously, we have prepared and opened 
                                a Molopo Farms dataroom providing all project 
                                information for interested third parties 
                                to review. All such engagements will be 
                                under non-disclosure arrangements at this 
                                time. 
                               --------------------------------------------------------------------------------------- 
         Tati Project 
           Botswana              The Company announced the results from a 
        (Gold - Nickel)          maiden drill programme at the Tati Project 
           POW: 100%             on 4 April 2022 and this may be viewed through 
                                 the following link: 
 
                                 https://www.londonstockexchange.com/news-article/POW/tati-project-botswana-drill-prog 
                                 ramme-results/15396365 
 
                                 Drilling confirmed 3 metres of 5.17g/t gold 
                                 from 9 metres downhole, representing shallow 
                                 gold mineralisation. Analysis led to additional 
                                 gold prospective ground being covered by 
                                 a new prospecting licence ("PL") application, 
                                 which was granted in April 2022 as announced 
                                 to the market: 
 
                                 https://www.londonstockexchange.com/news-article/POW/tati-project-botswana-new-licenc 
                                 e-granted/15422038 
 
                                 Recently the Company's technical team visited 
                                 the new PL to conduct site inspections and 
                                 mapping, confirming extensive historical 
                                 gold workings at the Cherished Hope gold 
                                 mine as well as large fines dumps which 
                                 may be capable of near-term revenue generation 
                                 through toll processing of gold: 
 
                                 https://www.londonstockexchange.com/news-article/POW/tati-project-botswana-exploratio 
                                 n-update/15543783 
 
                                 As a result of the findings from the site 
                                 visit undertaken, we have expedited plans 
                                 including further volumentric analysis and 
                                 gold sampling of fines dumps and a reverse 
                                 circulation ("RC") drill programme is expected 
                                 to commence in September/October of this 
                                 year. 
                               --------------------------------------------------------------------------------------- 
 

PROJECT DISPOSALS OR IPO PROCESSES UNDERWAY

Note: other project packages within the Power Metal portfolio are also in earlier stages of spin-out preparations in addition to those listed below.

 
         Project                                                 Latest Position 
     Kanye Resources       On 8 July 2022 Power Metal announced the 
   Conditional Disposal    conditional disposal of its Kanye Resources 
   to Kavango Resources    interest to its joint-venture partner Kavango 
                           Resources plc (LON:KAV)("Kavango"). 
                           The disposal is subject to the publication 
                           of a prospectus by Kavango including provision 
                           for the transaction. 
                           Full terms and disposal consideration payable 
                           to Power Metal may be viewed in the announcement 
                           linked below: 
                           https://www.londonstockexchange.com/news-article/POW/conditional-disposal-of-kanye-resource 
                           s-interests/15532470 
                          -------------------------------------------------------------------------------------------- 
   First Class Metals      Power Metal currently has an interest of 
        PLC (FCM)           36.3% in FCM following the FCM pre-IPO financing 
     Schreiber-Hemlo,       which raised GBP486,000 in 2021. FCM is 
     Ontario, Canada        seeking a listing on the London capital 
   (Gold - Base Metals)     markets which is expected to occur shortly. 
        POW c.36%           First Class Metals has 100% ownership of 
                            7 claim blocks covering over 180km(2) in 
                            the Hemlo - Schreiber greenstone belt of 
                            Ontario, Canada. 
                            The North Hemlo flagship property covers 
                            over 90km(2) and sits just north of Barrick 
                            Gold Corp's Hemlo gold mine. The North Hemlo 
                            property has abundant showings of gold/copper/zinc/nickel. 
                            In the east of the North Hemlo property 
                            sits the Pickle Lake joint venture with 
                            Palladium One (TSX:PDM) which is the subject 
                            of a current drill programme focussing on 
                            nickel/copper targets. 
                          -------------------------------------------------------------------------------------------- 
 Golden Metal Resources    Power Metal provided a Golden Metal Resources 
        PLC (GMR)          ("Golden Metal") company update on 19 July 
       Nevada, USA         2022 which may be viewed below: 
    Gold - Base Metals     https://www.londonstockexchange.com/news-article/POW/golden-metal-resources-company-update/ 
        POW 83.13%         15547371 
                           Following the pre-IPO financing which raised 
                           GBP750,000 in late 2021 preparation for 
                           the planned listing of Golden Metal is near 
                           to completion and this will lead into the 
                           IPO financing, and subject to regulatory 
                           approvals, a planned listing on the London 
                           capital markets expected to occur this quarter. 
                           Golden Metal is active from an exploration 
                           perspective with an induced polarisation 
                           ("IP") survey underway over the Pilot Mountain 
                           project and a high-resolution soil geochemical 
                           survey active across the Garfield project. 
                          -------------------------------------------------------------------------------------------- 
    First Development           FDR has undertaken multiple exploration 
   Resources Ltd (FDR)           and corporate work streams in recent months. 
    Western Australia            A detailed company update will be released 
     (Gold - Copper -            to the market shortly providing an update 
   Rare Earth Elements           which will cover: 
   - Uranium - Lithium)           *    Final preparations for the Wallal project diamond 
       POW: 62.12%                     drill programme 
 
 
                                  *    Exploration findings from the Braeside West, Ripon 
                                       Hills and Selta projects 
 
 
                                  *    Update with regard to the planned listing process now 
                                       fully underway following the completion of a 
                                       GBP1.125m pre-IPO financing as announced in June 
                                       2022. 
                          -------------------------------------------------------------------------------------------- 
    New Ballarat Gold      Through its Australian operating subsidiary, 
     Corporation PLC       Red Rock Australasia Pty Ltd, NBGC has a 
          (NBCG)           substantial licence footprint within the 
   Victoria, Australia     Victoria Goldfields, Australia. This comprises 
          (Gold)           14 granted exploration licences covering 
     POW: 49.9% 50.1%      1,832km(2) and 5 licence applications covering 
   JV Partner Red Rock     493km(2) . 
  Resources PLC LON:RRR)   A planned listing of NBGC has taken longer 
                           than anticipated but remains the focus of 
                           the company with a potential planned listing 
                           in the London or Australian capital markets 
                           later this year. 
                           Much work has been undertaken recently to 
                           advance the licences held in NBGC including 
                           continuing exploration work by our in-country 
                           operational team. Also through the advancement 
                           of licence applications into granted status, 
                           which has now been achieved for 79% of the 
                           application footprint. 
                           Recent licence grants include EL007330 located 
                           northeast of Ballarat and this newly granted 
                           licence covers the Ajax gold mine which 
                           historically produced 312,789oz gold at 
                           an average grade of 14.8g/t Au in the 1920s 
                           ("Ajax"). Further information in our announcement 
                           of 24 May 2022: 
                           https://www.londonstockexchange.com/news-article/POW/victorian-gold-fields-grant-of-key-lic 
                           ences/15465313 
                           The addition of the Ajax gold mine above 
                           was further supplemented by a transaction 
                           to acquire EL5535 which covers the historical 
                           Berringa gold mine just west of Ballarat 
                           which has historical production of 293,250 
                           ounces of gold from 1898-1952, at an average 
                           grade of 8.3g/t ("Berringa"). Further information 
                           in our announcement of 6 July 2022: 
                           https://www.londonstockexchange.com/news-article/POW/acquisition-of-historic-berringa-gold- 
                           mine/15528927 
                           The mined sections of the Ajax and Berringa 
                           trends are thought by RRAL to be among the 
                           top half dozen historic underground gold 
                           mines of Victoria and contain significant 
                           exploration targets. Both mine areas are 
                           within 30km of existing and not fully utilised 
                           treatment plants. 
                           Work is currently being undertaken to better 
                           understand historical mining activities, 
                           residual gold resource potential and drill 
                           targets at both Ajax and Berringa, with 
                           a view to diamond drilling later this year. 
                           This work is being undertaken alongside 
                           various work streams in respect of the planned 
                           listing. 
                          -------------------------------------------------------------------------------------------- 
 

PROJECTS WITH NEXT STEPS TO BE DETERMINED

 
       Project                                       Latest Position & Key Forward Events 
  Alamo Gold Project 
     Arizona, USA         Various technical reports have now been 
        (Gold)            received and reviewed following work undertaken 
    POW: Earn-in to       at the Alamo gold project in Arizona. 
          75% 
                          The findings are inconclusive to date and 
                          require additional work to be undertaken 
                          to further the technical understanding of 
                          the project's potential. 
 
                          We are working with our partners in Arizona 
                          to review the technical work required and 
                          the costs attaching. We are also looking 
                          at the earn-in which may need to be restructured 
                          given the findings thus far. 
                       ----------------------------------------------------------------------------------------------- 
    Gawler Project      The Gawler Project comprises two licence 
    South Australia     applications (submitted October 2021 and 
    (Gold, Copper)      covering 1,994km(2) ) details of which may 
       POW: 100%        be viewed through the following link: 
                        https://www.londonstockexchange.com/news-article/POW/new-australia-copper-gold-opportunity/151 
                        89456 
 
                        Recently Power Metal Resources Australia 
                        Pty Limited, Power Metal's wholly owned 
                        operating company, was advised that the 
                        Department of Energy and Mining ("DEM") 
                        proposed granting of one licence application 
                        ELA2021/00163 (999km(2) ) for a period of 
                        6 years. The initial expenditure commitment 
                        for the licence is AUD$100,000 in total 
                        over 2 years, and Power Metal has paid AUD$23,055.10 
                        in respect of first year rent and administration 
                        fees to the DEM. The Company now awaits 
                        final regulatory sign-off and release of 
                        granted licence documentation. 
 
                        Internal technical review by the Power Metal 
                        team has been undertaken and an initial 
                        exploration programme is being finalised 
                        in preparation for the launch of ground 
                        exploration following receipt of the granted 
                        licence documentation. 
 
                        Power Metal awaits progress with regard 
                        to the granting of ELA2021/00162 (995km(2) 
                        ) and will similarly launch planned ground 
                        exploration subject to the granting of the 
                        licence. 
                       ----------------------------------------------------------------------------------------------- 
    Haneti Project 
       Tanzania           Drill results were announced for the Haneti 
    (Polymetallic)        Project in May 2022. Drilling identified 
   POW: 35% (65% JV       the targeted nickel, but not in economically 
  Partner Katoro Gold     significant intersections. The technical 
     plc LON:KAT)         results from the programme are expected 
                          to lead to further target development at 
                          Haneti for ongoing exploration. 
 
                          In addition data from the programme is now 
                          being made available to third parties previously 
                          interested in the Haneti project, to augment 
                          information previously supplied up to Q1 
                          2020. 
 
                          Power Metal is keen to progress the Haneti 
                          project through further targeted exploration 
                          and/or corporate activity. 
                       ----------------------------------------------------------------------------------------------- 
 Silver Peak Project    Liaison with our Canadian partner to finalise 
   British Columbia,     commercial initiatives for the project continue. 
        Canada           An important next step is a planned site 
       (Silver)          visit which is scheduled for early August 
       POW: 30%          2022, which is expected to assist expediting 
                         matters. 
                       ----------------------------------------------------------------------------------------------- 
 

NEW OPPORTUNITIES

 
          Project                             Latest Position 
   Power Metal Resources     The near-term focus will remain on the exploration 
            plc               of existing interests and the crystallisation 
                              of value through the potential listing of 
                              spin-out vehicles and project value generative 
                              disposals. 
                              The primary acquisition focus for the foreseeable 
                              future is uranium projects, however the 
                              Company does not rule out other acquisitions 
                              of exceptional opportunities. 
                            --------------------------------------------------- 
 Power Capital Investments   Power Capital Investments ("Power Capital") 
          Limited             continues to work on a number of initiatives 
      Global Resource         targeting individual or smaller corporate 
     Project Incubator        owned opportunities. 
     (Multi-Commodity)        This is occurring against a backdrop of 
         POW: 100%            intensive activity across the Power Metal 
                              business and will for now remain a modest 
                              source of activity as we seek to advance 
                              our major business interests. 
                            --------------------------------------------------- 
 

MANAGEMENT - FINANCIAL - COMPLIANCE

 
       Project                                      Latest Position 
        Board           The Board currently comprises: 
                         Scott Richardson Brown - Interim Non-executive 
                         Chairman 
                         Paul Johnson - Chief Executive Officer 
                         Ed Shaw - Non-executive Director 
                         Power Metal has been engaging with a number 
                         of potential board candidates for Power 
                         Metal and associated companies. 
                         We have successfully secured full boards 
                         for Golden Metal and First Development Resources 
                         in advance of their planned listings. 
                         For Power Metal we are undertaking due diligence 
                         on new candidates and hope to be in a position 
                         to announce new appointments in the near 
                         term. 
                       ------------------------------------------------------------------------ 
    Management and      Power Metal has built a strong operational 
         Team            team which along with the board now comprises 
                         ten team members based out of our UK office. 
                         We work extensively overseas and have developed 
                         equally strong operational partnerships 
                         in countries around the world, forming an 
                         efficient and cost effective hub-and-spoke 
                         operational model. 
                         Power Metal is actively seeking to bring 
                         new team members in to support the growth 
                         in business and we continue to invite talented 
                         individuals from all backgrounds who feel 
                         they can contribute to our work to reach 
                         out and contact us through the following 
                         link: 
                         https://www.powermetalresources.com/join-us/ 
                       ------------------------------------------------------------------------ 
  Financial Position         Working Capital 
                              Working capital comprises cash and listed 
                              investments ("Working Capital"). 
                              As at 26/07/22 Working Capital amounted 
                              to GBP1.88m. This is available for payment 
                              of corporate costs and exploration expenditure 
                              across business operations. 
                              Pre-IPO Vehicles 
                              Power Metal has holdings in three current 
                              vehicles undertaking a planned IPO which, 
                              valued at the historical pre-IPO valuation 
                              level, amount to a total value of GBP6.92m 
                              as per the table below: POW Holding at Pre-IPO       GBP 
                                      Valuation 
                               First Class Metals        1,028,766 
                                                        ---------- 
                               Golden Metal Resources    3,325,000 
                                                        ---------- 
                               First Development 
                                Resources                2,562,500 
                                                        ---------- 
                               Total                     6,916,266 
                                                        ---------- 
 
                              In addition, Power Metal is seeking with 
                              JV partners (Red Rock Resources PLC) to 
                              undertake a listing of NBGC, the pre-IPO 
                              valuation of which is not confirmed at the 
                              current time. 
                              The listing of further project packages 
                              may be undertaken which will be incorporated 
                              into the above list in due course. 
                              Project Investments & Intercompany Loans 
                              As at 30/06/2022 Power Metal's remaining 
                              assets comprising project investments and 
                              intercompany loans, amounting to GBP5.08m. 
                              Future Financing Sources 
                              The Company has multiple sources of additional 
                              financing, not all of which may be necessary 
                              or occur in the foreseeable future: 
                               *    As an AIM listed vehicle traditional equity financing 
                                    can be undertaken to raise additional sums where 
                                    considered necessary. 
 
 
 
                               *    Through the exercise of financing and transactional 
                                    warrants or the exercise of director, team member or 
                                    adviser options. A full breakdown of all warrants and 
                                    options outstanding is available on the Company's 
                                    website through the following link: 
 
 
 
                              https://www.powermetalresources.com/warrants-options-outstanding/ 
 
                               *    In addition to the above, the Company will benefit 
                                    from the planned listings of the pre-IPO vehicles as 
                                    outlined above which will, if successful and in line 
                                    with expected valuations on listing, add considerably 
                                    to overall Power Metal asset value. 
 
 
 
                               *    It is anticipated that further value generative 
                                    events may occur including additional spin-outs into 
                                    new listed vehicles and outright disposal of certain 
                                    business interests. 
                       ------------------------------------------------------------------------ 
 Audit and Compliance              Power Metal with the support of One Advisory, 
                                    completed its interim results for the half 
                                    year ended 31 March 2022, which in line 
                                    with best practice were reviewed for comment 
                                    by the Company's auditors PKF. The interim 
                                    results were published on 27 June 2022. 
                                    The Company's year end is 30 September 2022 
                                    and it is expected that the audited financial 
                                    accounts for the full year will be published 
                                    in February 2023. 
                                    Power Metal is now well advanced with preparation 
                                    of a new environmental, social and governance 
                                    ("ESG") initiative which will include: 
                                     *    Appointment of an ESG Officer for Power Metal and all 
                                          associated companies. 
 
 
                                     *    Design, implementation of new and wide ranging ESG 
                                          policies across the Company and embedded at local 
                                          project or investment level for all Company 
                                          activities. 
 
 
                                    Training of all staff members to develop 
                                    Company-wide core ESG understanding, with 
                                    in-depth training where required to maintain 
                                    optimal ESG capability at all levels. 
                                    A separate ESG dedicated announcement will 
                                    be published by the Company in due course. 
                       ------------------------------------------------------------------------ 
 

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 
 
 
 
 

NOTES TO EDITORS

Power Metal Resources plc - Background

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.

Exploration Work Overview

Power Metal has internal exploration programmes completed or underway, with results awaited, as outlined in the table below.

Exploration work programmes may also be underway within planned IPO vehicles where Power Metal has a material interest the findings from which will be released on their respective websites, with simultaneous updates through Power Metal regulatory announcements where required:

www.firstclassmetalsplc.com

www.goldenmetalresources.com

www.firstdevelopmentresources.com

Power Metal also holds a material investment in Kavango Resources plc with exploration updates available through their regulatory announcements and on their website:

www.kavangoresources.com

 
   Project     Location    Current       Work Completed               Results Awaited 
                              POW          or Underway 
                               % 
 
 Athabasca      Canada       100%     Hyperspectral           Finalise review of data 
  Uranium                              data analysis           from 3 properties. Prepare 
                                       conducted across        for summer exploration 
                                       all 7 properties.       programme across 4 properties. 
                                       Updating to 7 
                                       data rooms for 
                                       third party review. 
              ----------  ---------  ----------------------  -------------------------------- 
 Authier        Canada     Earn-in    Property Evaluation     Update covering exploration 
  North                     to 100%    Report completed.       plans for target areas 
  Lithium                                                      identified during the 
                                                               Evaluation. 
              ----------  ---------  ----------------------  -------------------------------- 
 Molopo        Botswana     53%(#)    Comprehensive           Finalise next exploration 
  Farms                                data review complete    steps and action plan. 
                                       and establishment 
                                       of data room 
                                       for third party 
                                       review. 
              ----------  ---------  ----------------------  -------------------------------- 
 Tati          Botswana      100%     Site visit with         Exploration planning 
  Project                              mapping of gold         underway including further 
                                       workings and            mapping, sampling and 
                                       mine dumps.             launch of an RC drill 
                                                               programme. 
              ----------  ---------  ----------------------  -------------------------------- 
 Victoria      Australia    49.9%     Diamond drill           Final drill programme 
  Goldfields                           programme completed.    results analysis and 
                                       Review of Ajax          resource potential analysis 
                                       & Berringa mine         from former high-grade 
                                       remaining resource      producing mines in granted 
                                       potential.              licences. 
              ----------  ---------  ----------------------  -------------------------------- 
 

(#) subject to completion of acquisition announced 18.5.22 interest will increase to 87.71%

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

UPDDZGZNRNMGZZG

(END) Dow Jones Newswires

July 27, 2022 04:46 ET (08:46 GMT)

African Battery Metals (LSE:ABM)
Historical Stock Chart
From Feb 2024 to Mar 2024 Click Here for more African Battery Metals Charts.
African Battery Metals (LSE:ABM)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more African Battery Metals Charts.