Power Metal Resources PLC (AIM:POW, OTCQB:POWMD) has extended the due diligence exclusivity period for its proposed uranium portfolio joint venture with ACAM until 23 August 2024.
Earlier this month, Power Metal and ACAM signed a term sheet with an eight-week exclusivity period.
Significant progress has been made towards completion of the joint venture, Power Metal said, but certain legal due diligence processes remain outstanding hence the revised timeline.
"Whilst no guarantee of completion can be provided, the Parties fully expect completion within that period," said the statement.