POW.L

Power Metal Resources Plc
Power Metal Res. - Agreement with Alara Resources & Awtad Copper
8th October 2024, 13:53
TwitterFacebookLinkedIn
To continue viewing RNS, please confirm that you are a Private Investor*

* A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:

  1. Obtains access to the information in a personal capacity;
  2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
  3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
  4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
  5. Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
  6. Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
RNS Number : 4061H
Power Metal Resources PLC
08 October 2024
 

8 October 2024

Power Metal Resources PLC

("Power Metal" or the "Company")

Agreement with Alara Resources & Awtad Copper

Power Metal Resources PLC (AIM:POW, OTCQB:POWMF), the London listed exploration company with a global project portfolio, and its majority held subsidiary Power Arabia Ltd ("Power Arabia"), announced on 11 September 2024 the signature of a non-binding Heads of Terms ("HoT") with Alara Resources Limited ("Alara") and Awtad Copper LLC ("Awtad Copper") for Power Metal to spend up to US$740,000 from the date of execution of a legally binding agreement to earn a 12.5% stake in the Block 8 concession in Oman ("Block 8"), (the "Proposed Agreement").

The finalisation and signature of a formal and legally binding agreement containing the full terms and conditions of the Proposed Agreement is in final review by both parties and is expected to be signed in the coming days. However, there can be no certainty that a legally binding agreement will be completed.

 

 

For further information please visit https://www.powermetalresources.com/ or contact:

Power Metal Resources plc


Sean Wade (Chief Executive Officer)

 

+44 (0) 20 3778 1396



SP Angel Corporate Finance LLP (Nomad and Joint Broker)


Ewan Leggat/Caroline Rowe

 

+44 (0) 20 3470 0470



Tamesis Partners LLP (Joint Broker)


Richard Greenfield/Charlie Bendon                                                                                    

+44 (0) 20 3882 2868



 

BlytheRay (PR Advisors)

Tim Blythe/Megan Ray/Alastair Roberts

 

 

+44 (0) 20 7138 3204

 

NOTES TO EDITORS

Power Metal Resources plc (AIM:POW,OTCQB:POWMF) is a London-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, Saudi Arabia 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.

 

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
 
 
AGRQKFBQNBDDFKK]]>
TwitterFacebookLinkedIn