16th Oct 2020 06:25
Two Shields Investments PLC - investment company - Notes announcement from Power Metal Resources PLC regarding Kalahari Key Mineral Exploration Pty Ltd, in which Two Shields holds a 17.8% stake. Kalahari operates the Molopo Farms complex - which is targeting nickel sulphide and platinum group metal mineralisation in Botswana. Power Metal has an 18.3% shareholding in Kalahari and has elected to earn-in to a 40% direct interest in the Molopo Farms project by funding USD500,000 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 51% in the project. Power Metal says the USD500,000 cost is fully funded and covered by its existing cash resources.
Two Shields current stock price: 0.14 pence
Year-to-date change: up 12%
Power Metal current stock price: 1.52p
Year-to-date change: nearly tripled from 0.38p on December 31
By Evelina Grecenko; [email protected]
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