Power Metal Resources PLC (AIM:POW) said it intends to apply for a listing on the OTC Market in the US to provide easier trading accessibility to investors.
"The planned application for an OTC listing will give us the opportunity to address a much wider international investor base and therefore substantially improve liquidity in the shares,” said chief executive Sean Wade.
The AIM-listed metals and exploration company also added that as of 30 June 2023, its shareholder equity position was £15.5mln compared to £10.2mln on 30 September last year.
“Importantly our shareholder equity per share has grown over recent years demonstrating that the financings undertaken have fed through to increasing value for shareholders,” Wade added.
There has also been 38% growth in gross assets, rising to £15.8mln as of 30 June from £10.7mln last September.
Commenting on the group’s corporate initiatives, Power Metal said three project disposals have led to a significant equity position in Kavango Resources, First Class Metals and Golden Metal.
Currently, these assets are valued at £6.7mln and represent a small proportion of the historic interests previously held, a statement said.
Power Metal said it is eager to build a more extensive portfolio through disposals and is currently pursuing a few corporate initiatives, such as the advancement and ownership of the Haneti Project in Tanzania with joint venture partner Katoro Gold.
Alongside the corporate initiatives, the company is pursuing exploration at a number of properties in and around the Athabasca Basin.