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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END

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January 05, 2022 08:11 ET (13:11 GMT)

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