Business
Golden Metal Resources - Pre-IPO Financing
Golden Metal Resources - Pre-IPO Financing.
About this update from Power Metal Resources Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1281V\n Power Metal Resources PLC\n 09 December 2021\n \n \n \n 9 December 2021\n Power Metal Resources PLC\n (\"Power Metal\" or the \"Company\")\n Golden Metal Resources - Pre-IPO Financing £750,000\n Power Metal Subsidiary Golden Metal Resources Raises £750,000 in Pre-IPO Financing to Fund its Planned IPO and Operational Expenses\n \n Power Metal Resources PLC (LON:POW) the London listed exploration company seeking large-scale metal discoveries across its global project portfolio, announces its wholly-owned subsidiary Golden Metal Resources Limited (\"Golden Metal\" or \"GMT\") has completed its £750,000 Pre-IPO financing (\"Financing\").\n \n \n \n \n \n Golden Metal is a Nevada, USA, focused exploration and development company and is undertaking a planned listing on the London capital markets in 2022.\n \n \n \n \n \n The latest exploration update in respect of Golden Metal is available through the following link:\n \n \n \n \n \n \n \n https://www.londonstockexchange.com/news-article/POW/golden-metal-resources-exploration-update/15229671\n \n \n \n \n \n \n Paul Johnson, Chief Executive Officer of Power Metal Resources plc commented:\n \n \"With Golden Metal Resources we have created an attractive Nevada, USA, focused investment opportunity, which we plan to list on the London capital markets as soon as possible.\n \n \n The Nevada portfolio is carefully balanced, including the Pilot Mountain project which hosts a substantial JORC compliant tungsten focused resource, (with copper, silver and zinc in addition) which we believe has significant exploration potential and development upside.\n \n \n \n The portfolio also includes Golconda Summit, where \n Golden Metal can earn a 100% interest, positioned in a neighbourhood of dramatic Carlin-style gold deposits and where our initial exploration work has indicated the potential for a significant gold discovery.\n \n \n The Financing announced today means Golden Metal\n \n becomes self-financed and Power Metal will no longer be required to fund Golden Metal\n \n operations but instead will be a major strategic Golden Metal\n \n shareholder.\n \n \n \n Alongside self-financing, Golden Metal has its own dedicated management team with broad spectrum knowledge and capabilities, and above all with the energy and focus to drive thi...