viewPower Metal Resources

Power Metal Resources acquires major new landholding in Botswana

Power Metal Resources holds a diverse portfolio of precious and base metals assets around the world

Power Metal Resources -

Power Metal Resources PLC (LON:POW) has acquired a 50% interest in a 2,680 square kilometre portfolio of base and strategic metal project interests in Botswana from Kavango Resources (LON:KAV) to be held in a new strategic joint venture holding company. 

Consideration for the acquisition payable to Kavango comprises £75,000 in cash, six million shares at a price of 1.25p each and five million warrants at 2p.

In addition, Power Metal commits to sole funding of US$150,000 over a two year period for exploration expenditure across the Ditau Camp and Kalahari Copper Belt projects to ensure expeditious and proactive project exploration, with any further expenditure above US$150,000 being funded jointly by Power Metal and Kavango.

"The new acquisition announced today is a significant development for Power Metal, adding further strategic metal projects into the business portfolio and in the secure, stable and supportive operating jurisdiction of Botswana,” Power Metals chief executive Paul Johnson said in a statement. 

“The acquisition also complements Power Metal's interest in the Molopo Farms Complex project, which is seeking a large-scale nickel-platinum group metal discovery in Botswana, and where a maiden drill programme is planned.”

Quick facts: Power Metal Resources

Price: 2.2 GBX

Market: AIM
Market Cap: £18 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Power Metal Resources named herein, including the promotion by the Company of Power Metal Resources in any Content on the Site, the Company...


Red Rock Resources submits new licence applications to explore Victoria...

Red Rock Resources PLC (LON:RRR) chairman Andrew Bell tells Proactive it has applied for new licences in the Victoria Goldfields of Queensland, Australia through its joint venture Red Rock Resources Australasia with Power Metal Resources PLC (LON:POW). Bell says the ground under application...

on 05/19/2020

2 min read