Power Metal Resources chief executive Paul Johnson said going forward the company will focus on a smaller group of retained projects with acquisitions targeted at uranium opportunities.
“Where appropriate we are pursuing accelerated value crystallisation by preparing parts of our business for spin-out/disposals," he added.
“Power Metal is at a key point with all projects having been the recipient of varying extents of exploration, which has been a substantial exercise given the breadth of our portfolio.
“There is an underlying confidence and optimism that permeates the Power Metal business and the team within it.”
Johnson’s comments accompanied half-year results to the end of March 2022 showing losses of £1.69mln (£0.59mln) and net assets at the period end of £8.01mln up from £5.97mln six months earlier.