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Power Metal Resources highlights period of intense activity, in commentary to interim results

The company is undertaking exploration at Kisinka and Haneti

Power Metal Resources -

Power Metal Resources PLC (LON:POW) closed out the six months to March 31, 2020, with net assets of £2mln, after booking a £240,000 loss.

The metals exploration and development company had a busy first financial half, as it struck deals on assets in Botswana and the USA, and undertook exploration in Tanzania and the Democratic Republic of Congo.

 Subsequent to the period end, deals were also done in Australia, and further progress made on the African portfolio.

"POW now has a diverse business model, with a new and developing gold joint venture interest in Australia and base metal interests in Africa,” said chief executive Paul Johnson.

“As a company we are targeting large scale metal discoveries and in the board's opinion each project interest we hold has the potential to deliver a large-scale discovery or discoveries. From a corporate perspective POW is still undertaking due diligence on new project opportunities albeit the emphasis now is the operational and corporate development of existing portfolio interests.”

Quick facts: Power Metal Resources

Price: 0.6268 GBX

AIM:POW
Market: AIM
Market Cap: £3.46 m
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