Business
Interim Results
Power Metal Resources PLC reported a profit for the period attributable to owners of the parent of £5.44 million, a significant increase from the £1.3 million loss in the same period last year, resulting in earnings per share of 4.71 pence compared to a loss per share of 1.22 pence. The company's total assets reached £31.07 million, up from £28.71 million at the end of the previous year, and net assets increased to £28.3 million from £22.9 million. The company sold its remaining holding in Guardian Metal Resources PLC post period-end, for a total cash consideration of £13,584,904 before costs. Power Metal also announced a proposed investment of up to £3 million in Minestarters for up to a 49 per cent stake. Disclaimer*
About this update from Power Metal Resources Plc
[{"type":"text","content":"\n\n29 September 2025\nPower Metal Resources plc\n(\"POW\", \"Power Metal\" or the \"Company\")\nInterim Results\nPower Metal Resources plc (AIM:POW, OTCQB:POWMF), the London-listed natural resources exploration company and project incubator with a global project portfolio, announces its unaudited interim results for the six-month period ended 30 June 2025 (the \"period\"), for the Company and its subsidiaries (together the \"Group\").\nKEY DEVELOPMENTS IN THE HALF YEAR TO 30 JUNE 2025\n- Block 8 Oman: Exploration work was conducted by Power Arabia Limited (\"Power Arabia\") across the Block 8 exploration concession in Oman (\"Block 8\"), focusing on the Al Maider and Al Mansur prospects, which both have the potential to host significant mineralisation.\no At the Al Maider Prospect, assay results from an initial 13 rock and float samples returned significant results of 4.46% and 1.75% copper and further rock chip sampling returned results of up to 7.84% copper, supporting the prospectivity of the target.\no At the Al Mansur Prospect, gravimetric geophysics (\"Gravity\") survey work defined five anomalies, with in-fill Gravity work further defining two targets for additional workstreams, subsequently named AM1 and AM2.\n \n- Uranium Joint Venture: During the period, significant progress was made at a number of properties that constitute Power Metal's uranium-focused joint venture (the \"Joint Venture\" or \"JV\") with UCAM Ltd (\"UCAM\"), known as Fermi Exploration (\"Fermi\"), which comprises POW's entire portfolio of uranium licences:\no Tait Hill: Significant intrusion-related uranium target - the Antler Zone - identified at the property. Rock samples taken from the Antler Zone returned Tait Hill's highest uranium values to dates, including 1.68% uranium in pegmatite.\no Fortin River: Project acquired in February by mineral staking. Preliminary geophysical results indicate the presence of a significant uranium target.\no Reitenbach: Property expanded by 27.5% by direct mineral claim staking. Geophysical surveys and fieldwork reveal promising targets. Small field programme commissioned to refine and narrow the prospective area for future work.\no Drake Lake-Silas: Drill targets established targeting Iron Oxide Copper Gold (\...