viewPower Metal Resources

Full year results from Power Metal Resources highlight rapid pace of development

The company has built a strong portfolio against a backdrop of rising commodities prices

Power Metal Resources -

Power Metal Resources PLC (LON:POW) lost £1.6mln in the year to 30 September 2020.

The company closed out the financial year with a private and listed shares and warrants portfolio worth around £1.48mln, including a £415,000 fair value uplift in the valuation of the portfolio of listed investments in other junior natural resource companies held by the company over the course of the year.

At the year end the company held cash of £913,000.

Warrant exercises since the year end have raised a further £2,638,470 for the Company.

"The audited results for the year ended 30 September 2020 demonstrate the pace of business development at Power Metal,” said chief executive Paul Johnson. 

“In the previous financial year the company emerged from the refinancing in February 2019 with a new sense of energy and a promise to deliver an exciting investment proposition in resource exploration and development. As at today's date Power Metal is a global exploration company with precious and base metal projects across three continents. Power Metal is well funded with a strong working capital position and an objective to continue to build our "balance sheet" working capital to move the company toward financial self-sustainability.”

The company currently has exposure to active exploration programmes across a number of projects in Africa, Australia and North America

Quick facts: Power Metal Resources

Price: 2.35 GBX

Market: AIM
Market Cap: £26.32 m


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 on route to exploration after priority licences win

The award of three priority licences in Australia’s highly prospective Ballarat has been described as 'game changing' for awardee Red Rock Australasia (RRAL). The gold exploration focused joint venture between Red Rock Resources (LON:RRR) and Power Metal Resources (LON:POW) now has 215 sq km...

3 weeks, 4 days ago

2 min read