POW - Power Metal Resources CEO lays out timeline for early 2024
(NewsDirect)
Power Metal Resources PLC (AIM:POW) CEOSean Wade speaks to Thomas Warner from Proactive after the metalsexploration company announced two major developments: the confirmationof a drill contract for a campaign at the Molopo Farms Complex Projectin Botswana as well as advancements in the Uranium Energy Exploration(UEE) IPO.
Wade details thecompany's strategy with the Molopo drill project, emphasising ameticulous approach in geophysical mapping and data analysis to targetthe T1-14 area effectively. He explains the complexities and costs ofexploration programs, underlining the importance of thoroughpreparatory work to maximise the chances of discovery.
Theupcoming drill program, spanning weeks to months, will delve into 800mof depth, with initial visual analysis providing insights before labresults. The CEO also discussed the significant step forwardrepresented by the UEE IPO. The pre-IPO financing raised over£420,000, despite challenging market conditions, setting the stagefor a more substantial capital raise in the new year. This movedemonstrates Power Metal Resources' dual strategy: prioritisinghigh-priority exploration projects while also employing a'merchant bank' model to crystallise value for shareholdersthrough capital market activities.
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