Business
Completion of Strategic and Operational Review
Completion of Strategic and Operational Review.
About this update from Power Metal Resources Plc
[{"type":"text","content":"\n \nRNS Number : 5563J Power Metal Resources PLC 20 August 2019 \n\n20 August 2019\n \nPower Metal Resources plc (\"POW\" or the \"Company\")\nCompletion of Strategic and Operational Review\n \nPower Metal Resources plc (LON:POW) the AIM listed African focused metal exploration and development company is pleased to confirm the completion of the Company's strategic and operational review.\nHIGHLIGHTS:\n· Strategic and operational review, commenced in February 2019, now complete and all key restructuring activities essentially complete; \n· Power Metal Resources to remain focused on large scale metal discoveries with a focus on nickel, copper and cobalt; \n· Company to continue proactive exploration activities in Botswana, Cameroon, the DRC and Tanzania; \n· Paul Johnson becomes Chief Executive Officer of the Company with immediate effect.\n \nPaul Johnson, Chief Executive Officer of Power Metal Resources plc commented: \"The key strategic objective of Power Metal Resources is to make large scale metal discoveries in the power metal commodities, principally nickel, copper and cobalt. \nI am pleased to be given the opportunity to take the role of Chief Executive Officer and with the support of the team, and shareholders, I intend to make a long-term commitment to building Power Metal Resources into one of the strongest exploration and development companies in London.\nIn line with this objective we have made a great start in recent months with exploration success in Cameroon (cobalt) and the DRC (copper), where both projects have to date exceeded our expectations.\nThe Company has also added new operational activities in Botswana and Tanzania, predominantly nickel focused, and where all results achieved to date have been highly encouraging.\nI would like to thank my fellow directors and our advisory team for their vital help and support so far in 2019 and also our shareholders, including those who have held for a long period and more recent holders. Junior resource exploration is high risk and at times holding shares can be a tortuous process, not least when sector conditions are very challenging. \nWith a fair wind I trust we will deliver the level of returns that justify your investment.\"\n \nSTRATE...