No signs of running out of puff for Power Metals
“We don’t hold onto news, you should be getting news out to market on a regular basis which is what Power Metals do”
With numerous investor updates, Power Metal Resources is as chatty as its chief executive Paul Johnson. No stranger to building companies in the mineral and metal space, Johnson and his team are searching for both the precious and the industrial metals they believe are ready to be unearthed in multiple jurisdictions.
In the Botswana Molopo Farms Complex the feeder zone geological proposition was confirmed suggesting the company is doing the right kind of drilling in the right kind of place. With information being processed from the first hole, the rig is being taken to the second hole as part of the multi probe programme.
Once that programme is complete Johnson says there will be considerable residual working capital. It’s his ambition to turn the company from a cash burn model into a model that generates its own capital, though he admits that cash burn is negligible because: “As we spend money, people send us money with warrant conversions.”
In British Columbia, the summer channel sampling at the Silver Peak silver project revealed bonanza silver grades and significant copper and lead grades. Johnson believes there’s,”an awful lot of silver. We’re just calculating the magnitude.”
And if that wasn’t enough to make even the most chatty run out of puff, the company is ready to go in Australia where there’s an office at Ballarat. The company is waiting for licence grants and Johnson’s hopeful the first few applications will yield very good results in terms of gold.
Listen to Paul and Sarah Lowther discuss the most recent operational updates, the company’s approach to finance and the ambition to make the business model a capital generating one.
Watch Paul talk to www.lse.co.uk’s Donald Leggatt about the company’s stakes in nine early stage mineral assets globally.
The author was remunerated but does not hold shares in the company
