Business
Commercial Update
Commercial Update.
About this update from Power Metal Resources Plc
[{"type":"text","content":"\n\n24 July 2023\nPower Metal Resources PLC\n(\"Power Metal\" or the \"Company\")\nCommercial Update\n \nPower Metal Resources PLC (AIM:POW), the AIM listed metals exploration and development company, is pleased to provide a commercial update covering a number of corporate initiatives currently underway and to also provide a financial update with the latest available unaudited Gross Asset and Shareholders' Equity position of the Company as at 30 June 2023.\nHighlights:\n· Multiple corporate initiatives underway to optimise Power Metal's positioning ahead of a resource sector recovery with work advancing concurrently across various business interests.\n· Accelerated exploration underway across the Company's Athabasca uranium interests in Saskatchewan, Canada and the Tati Goldfields project in Botswana.\n· Intention to apply for OTC listing for easier trading of Power Metal shares on market by US investors.\n· Appointment of Financial Adviser to Uranium Energy Exploration for their planned listing, the Company's first uranium project spin-out listing.\n· Significant increase in Gross Assets and Shareholders' Equity since 30 September 2020 year end, in absolute terms and also per issued share, demonstrating that Power Metal has been generating value per share notwithstanding share dilution over the period.\n \nSean Wade, Chief Executive Officer of Power Metal Resources plc, commented: \n\"I am very pleased to be able to update shareholders on these important developments. We are well aware of the challenging market conditions of late, and as such, it is important for us to demonstrate to shareholders that significant steps are being taken to position the Company in readiness for what we expect will be a considerable recovery in the junior resource sector.\n\"The planned application for an OTC listing will give us the opportunity to address a much wider international investor base and therefore substantially improve liquidity in the shares. We want to make it as easy as possible for people to invest and this is a significant step forward in that regard.\n\"We see significant potential demand for a pure-play uranium exploration vehicle and look forward to the planned listing of Uranium Energy Exploration. We are also excited ...