SHAREHOLDER Q&A
We have received many questions from investors about Power Metal Resources’ current status and ambitions. We have compiled them into a Q&A below and hope this is useful for those looking at Power Metal Resources.
1. When are any listings going to happen?
The simple answer is as soon as they are ready and as soon as we complete the IPO financings for each entity. We are keen to secure the appropriate amounts of capital and all will be competitively priced relative to their inherent value. Importantly, we want to raise the right kind of capital from the right sources, aimed principally at long term investors.Market conditions have made all IPOs more challenging to finalise since early 2022, and that is something we have had to manage. IPO financings in general have required more effort than a more normalised market would enable. Our IPO programme has been no exception.
Moreover, given the work needed in the IPO technical preparatory process, additional time was required to move the initial planned IPOs to a stage of readiness for financing.
Notwithstanding this, all the material preparations are in place, and we are ready to proceed. Golden Metal Resources is expected to finalise imminently, with First Development Resources following thereafter. We currently expect that there will be further corporate events taking place in 2023.
2. When will the results from Molopo Farms Complex Project due?
We are currently compiling and evaluating all the information from the different work streams and technical analysis. We will report back to the market on results at Molopo Farms and the potential we see with that project as soon as possible.We confirmed in the AGM statement that receipt of assay data (the final tranche of data) was expected to be imminent for Molopo Farms Complex, Tati Project and the Victoria Goldfields exploration campaigns.
As with all material news updates, we will do this through the usual regulatory channels with follow on discussion through various media communications.
It is important to keep in mind that Molopo Farms has attracted a lot of interest, so the information we present to the market, and duplicate in our dataroom, must be comprehensive and thoroughly analysed.
3. Are we in talks with any parties regarding Molopo Farms Complex Project moving forward?
Power Metal is a diversified business with many project interests and Molopo represents just one of our exciting projects.
Discussions with potential partners across the portfolio do occur and there is an over-riding need to maintain a level of discipline in our external communication on these matters.
When we are required to disclose news of this kind through our regulatory channels, we will naturally do so on a timely basis.
4. What work has been carried out at Tati Project so far?
We have completed two drilling programmes within the 100% owned Tati Project in 2022. The first campaign was completed in Q1 2022 and was targeting the western part of a ~8km long gold-in-soil anomaly. Near surface drilling results included up to 3m of 5.17g/t Au (from 9m downhole).The second campaign was completed in Q3 2022 and returned multiple bonanza-grade gold intercepts which are summarized in the following RNS and include up to 47.1g/t and 40.6g/t Au over 1m.
A comprehensive 2023 exploration programme is underway, and the first stage of field work (geophysics and trenching) has been completed and we will release findings from that work, and the next planned stage of work drilling, in the near term, as confirmed in our AGM statement.
5. Are you going to release a quarterly update like Paul Johnson was doing?
Yes, it is certainly my intention to give our shareholders regular updates on our progress which may be in the form of a quarterly report, or something similar
6. What & when is work going to start in Canada?
Power Metal has the largest Athabasca uranium portfolio listed in London and therefore is a key strategic focus for the business. We are anticipating proceeding with exploration and corporate work with our properties in the Athabasca region as soon as possible.We have 2 conditional disposals planned and we are liaising with contractors for exact timings for exploration programmes, and we plan to commence work Q2, 2023.
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