Power Metal Resources PLC (AIM:POW) booked a pre-tax loss of £2.9mln for the year to 30 September 2022, and a total comprehensive loss of £375,000.
The company closed out the period with £1.6mln in cash, its results statement showed.
During the period Power Metals was active on a number of fronts, including in bolstering its uranium portfolio, spinning out gold projects into First Class Metals, acquiring the Pilot Mountain tungsten project in the USA, and the disposal of African assets to Kavango Resources PLC (LSE:KAV, OTC:KVGOF).
Drilling was also undertaken in Canada, Botswana and Tanzania, and other exploration took place across the portfolio, in particular in Australia, where the company also has extensive interests.
The company has also been active across its portfolio of properties post the year end.