Power Metal Resources PLC (AIM:POW) CEO Sean Wade joined Proactive's Stephen Gunnion following a successful £1.3 million strategic capital raise, which he said reflected strong investor confidence.
The funds involve major strategic investors, including a Saudi Arabian investor, reinforcing the company's focus on the region. This move aims to strengthen the shareholder base and clear up loose stock.
Wade discussed the allocation of funds, emphasizing high-impact exploration activities and corporate costs. He hinted at the possibility of further financing, asset-level financing, or IPOs, demonstrating the evolving capital structure.
In terms of projects, Power Metal Resources is set to commence drilling at the Molopo Farms nickel prospect in Botswana, targeting a district-scale nickel asset. Wade highlighted the extensive efforts to maximize the chances of a major magmatic nickel discovery.
He said investors can expect more news flow in the short to medium term, with updates on the Molopo drilling progress, soil sampling results from Tati gold project, and advancements in projects in Saudi Arabia.