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On 5 January 2022, Paul Johnson, Chief Executive Officer of Power Metal Resources plc, purchased 1,000,000 ordinary shares in the Company at 1.65p per share, investing £16,500. Following this purchase, Mr. Johnson holds a beneficial interest in 76,000,000 ordinary shares, representing approximately 5.27% of the Company's issued share capital.
| Date | 5 Jan 2022 |
| Time | 13:11:52 |
| Category | Director/PDMR dealings |
| ID | 5414X |
05 January 2022
Power Metal Resources plc ("Power Metal" or the "Company")
Director Dealing
Power Metal Resources plc (LON:POW) the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces that today, Paul Johnson, Chief Executive Officer of the Company purchased 1,000,000 ordinary shares of 0.1 pence each in the Company ("Ordinary Shares") at a price of 1.65p per Ordinary Share through his Self-Invested Personal Pension ("SIPP") (£16,500 invested).
Following the above purchase Mr Johnson has a beneficial interest in a total of 76,000,000 Ordinary Shares, representing approximately 5.27% of the issued share capital of the Company.
PDMR Disclosure
The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further detail on the director's share dealing.
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1
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Details of the person discharging managerial responsibilities / person closely associated
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a)
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Name
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1. Paul Johnson
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2
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Reason for the notification
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a)
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Position/status
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1. Chief Executive Officer
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b)
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Initial notification /Amendment
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Initial Notification |
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3
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Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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a)
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Name
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Power Metal Resources Plc
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b)
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LEI
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213800VNXOUPHTX53686 |
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4
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Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
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a)
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Description of the financial instrument, type of instrument |
ordinary shares of 0.1p each |
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Identification code |
ISIN: GB00BYWJZ743 |
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b)
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Nature of the transaction
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1. Purchase of Shares
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c)
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Price(s) and volume(s) |
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Price(s) |
Volume(s) |
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1.65p
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1,000,000
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d)
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Aggregated information |
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- Aggregated volume |
1,000,000 |
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- Price |
1.65p |
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e)
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Date of the transaction
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5 January 2022 |
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f)
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Place of the transaction
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XLON |
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Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
For further information please visit https://www.powermetalresources.com/ or contact:
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Power Metal Resources plc |
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Paul Johnson (Chief Executive Officer) |
+44 (0) 7766 465 617 |
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SP Angel Corporate Finance (Nomad and Joint Broker) |
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Ewan Leggat/Charlie Bouverat |
+44 (0) 20 3470 0470 |
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SI Capital Limited (Joint Broker) |
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Nick Emerson |
+44 (0) 1483 413 500 |
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First Equity Limited (Joint Broker) |
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David Cockbill/Jason Robertson |
+44 (0) 20 7330 1883 |
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NOTES TO EDITORS
Power Metal Resources plc (LON:POW) is an AIM listed metals exploration company which finances and manages global resource projects and is seeking large scale metal discoveries.
The Company has a principal focus on opportunities offering district scale potential across a global portfolio including precious, base and strategic metal exploration in North America, Africa and Australia.
Project interests range from early-stage greenfield exploration to later-stage prospects currently subject to drill programmes.
Power Metal will develop projects internally or through strategic joint ventures until a project becomes ready for disposal through outright sale or separate listing on a recognised stock exchange thereby crystallising the value generated from our internal exploration and development work.
Value generated through disposals will be deployed internally to drive the Company's growth or may be returned to shareholders through share buy backs, dividends or in-specie distributions of assets.
Power Metal Exploration Programmes Underway/Results Awaited
Power Metal has exploration programmes completed or underway, with results awaited, as outlined below:
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Project |
Location |
POW % |
Work Completed or Underway |
Results Awaited |
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Alamo Gold Project |
USA |
Earn-in to 75% |
Excavation of multiple test pits and mapping & sampling. |
Field and assay results from on-site work programme. |
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Authier North Lithium |
Canada |
Earn-in to 100% |
Soil & rock sampling completed |
Laboratory assay results of samples collected |
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Ditau Project |
Botswana |
50% |
Preparatory exploration work underway on target I10 leading to planned accelerated drilling targeting rare-earth elements and base metals
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Field programme findings and defined drill targets for near term drilling. |
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Kalahari Copper Belt |
Botswana |
50% |
Exploration programme underway across the South Ghanzi Project and further exploration at the more recently acquired South Ghanzi Extension and Mamuno licence areas |
Field programme findings and defined drill targets for near term drilling |
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Molopo Farms |
Botswana |
53%1 |
Kavango Option to acquire an interest in local project holding company. Option fee payable through defined work programme |
Results from various work activities underway as part of the Kavango Option |
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Tati Gold/Nickel |
Botswana |
100% |
Reverse circulation drill programme completed |
Laboratory assay results awaited |
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Victoria Goldfields |
Australia |
49.9% |
Ongoing exploration across 848km2 of granted exploration licences
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Results from field programme including drill programme underway |
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Wallal Gold/Copper Project |
Australia |
83.33%2 |
Passive seismic and 2D seismic processing work programme completed |
Results awaited |
1 should Kavango exercise their option to acquire Kalahari Key, Power Metal interest would reduce to 40% of the Molopo Farms Complex project
2 assuming all licences held by URE Metals Pty Limited are granted as outlined in the Company's announcement of 19.11.21 resulting in the issue of First Development Resources Ltd shares to URE vendors