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Power Metal Resources all keyed up for drilling at Molopo Farms in Botswana

Power Metal Resources has a diverse portfolio of assets around the world

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Drilling is one step closer on the Molopo Farms nickel and platinum group metals project in Botswana, in which Power Metal Resources PLC (LON:POW) has a significant stake alongside Kalahari Key Mineral Exploration Pty.

A drilling contract has been signed with the same contractors that were instrumental in discovering the T3 copper project now owned by Sandfire.

Power Metal currently has an 18.26% shareholding in Kalahari Key and has elected to earn in to a 40% direct interest in the Molopo Farms project by funding US$500,000 of exploration expenditure in 2020, notably the diamond drilling of selected targets.

On completion of the Earn-In, Power Metal will have an effective economic interest of 50.96% in the project.

The US$500,000 cost is fully funded and covered by Power Metal’s existing working capital.

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Price: 2.3 GBX

AIM:POW
Market: AIM
Market Cap: £19.96 m
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on 05/19/2020

2 min read