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Friday 31 January, 2020

Power Metal

Katoro Gold Update

RNS Number : 5565B
Power Metal Resources PLC
31 January 2020
 

31 January 2020

Power Metal Resources plc ("POW" or the "Company")

Katoro Gold Update

Power Metal Resources plc (LON:POW) the AIM listed metals exploration and development company is pleased to draw investors' attention to the announcement issued yesterday by Katoro Gold plc (LON: KAT)("Katoro Gold" or "Katoro").

The announcement may be viewed through the following link:

https://polaris.brighterir.com/public/katoro_gold/news/rns/story/x43nzkw

Power Metal Resources holds 10,000,000 Katoro shares which represents 5.57% of Katoro Gold's issued share capital.  In addition, POW also holds 10,000,000 warrants in Katoro Gold exercisable at 1.25p (2,500,000 warrants expiring on 15 March 2022 and 7,500,000 warrants expiring on 15 May 2022). 

POW also has a 25% interest in Katoro's Haneti polymetallic project in Tanzania, with a right to increase its interest to 35% by a payment to Katoro of £25,000 in cash by 15 May 2020.

 

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

+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 and development company exploring for the key metals used in power generation, transmission, storage and utilisation. The Board and team of advisors, who have proven expertise in exploration, mining and project generation, have identified an opportunity to utilise the Company's position to become a leader in the London market for investors to gain exposure to the power metal commodity suite, particularly cobalt, lithium, copper and nickel. 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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