Power Metal Resources (POW)

Sector:

Mining

Index:

FTSE AIM All-Share

14.50p
   
  • Change Today:
      1.00p
  • 52 Week High: 22.50
  • 52 Week Low: 10.00
  • Currency: UK Pounds
  • Shares Issued: 110.67m
  • Volume: 690,703
  • Market Cap: £16.05m
  • RiskGrade: 378

Power Metal Resources cautiously upbeat on Haneti drilling

By Josh White

Date: Monday 14 Feb 2022

LONDON (ShareCast) - (Sharecast News) - Power Metal Resources updated the market on the inaugural diamond drilling programme on its nickel-copper-cobalt-platinum group element Haneti Project in central Tanzania on Monday.

The AIM-traded firm said the programme was completed successfully, with a total of 900.04 metres across three drill holes, as planned.

Core logging and sampling was underway, with samples being prepared for thin section petrographic analysis and laboratory assay testing for nickel, copper, platinum, palladium, cobalt, chromium and gold at SGS Tanzania.

Large intersections of serpentinite and gabbroic rocks were identified in the Mwaka drill holes MWDD01 and MWDD02, with indications of peridotitic sequences.

The latter would be subject to confirmation through the thin section petrographic analysis.

Mihanza hole MHDD01, meanwhile, intersected massive serpentinite from surface, and serpentinised meta-gabbroic rocks at depth.

"This drill programme was safely executed and delivered on schedule and within budget," said chief executive officer Paul Johnson.

"Now that the physical drilling has been completed we move into the core logging, sampling and testing phase, and clearly there are various elements to this.

"We are cautious with early interpretations until the core logging and testing is complete."

Johnson said the company had seen thick sections of ultramafic rocks, and postulated that the anticipated geological model had been demonstrated from the core recovered.

"We are encouraged by the technical and geological success so far and look forward to providing further updates as and when they become available."

At 1152 GMT, shares in Power Metal Resources were up 2.69% at 1.41p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

POW Market Data

Currency UK Pounds
Share Price 14.50p
Change Today 1.00p
% Change 7.41 %
52 Week High 22.50
52 Week Low 10.00
Volume 690,703
Shares Issued 110.67m
Market Cap £16.05m
RiskGrade 378

POW Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
34.92% below the market average34.92% below the market average34.92% below the market average34.92% below the market average34.92% below the market average
66.41% below the sector average66.41% below the sector average66.41% below the sector average66.41% below the sector average66.41% below the sector average
Price Trend
46.29% below the market average46.29% below the market average46.29% below the market average46.29% below the market average46.29% below the market average
21.68% above the sector average21.68% above the sector average21.68% above the sector average21.68% above the sector average21.68% above the sector average
Income Not Available
Growth
54.22% above the market average54.22% above the market average54.22% above the market average54.22% above the market average54.22% above the market average
62.50% above the sector average62.50% above the sector average62.50% above the sector average62.50% above the sector average62.50% above the sector average

POW Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
16:29 64,186 @ 14.64p
16:28 876 @ 15.00p
16:28 50 @ 15.00p
16:28 926 @ 14.00p
16:28 137,889 @ 14.50p

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