Power Metal Resources (POW)

Sector:

Mining

Index:

FTSE AIM All-Share

1.55p
   
  • Change Today:
      0.050p
  • 52 Week High: 2.03
  • 52 Week Low: 0.83
  • Currency: UK Pounds
  • Shares Issued: 1,614.65m
  • Volume: 12,578,732
  • Market Cap: £25.03m
  • RiskGrade: 378

Power Metal stakes more ground at Soaring Bay uranium project

By Josh White

Date: Thursday 31 Mar 2022

LONDON (ShareCast) - (Sharecast News) - Power Metal Resources updated the market on its Soaring Bay uranium property on Thursday, with its footprint increasing 71% to 79.07 square kilometres after the staking of more uranium-prospective ground.

The AIM-traded firm said Soaring Bay is part of its larger uranium portfolio that includes seven wholly-owned interests now covering an area of 450.01 square kilometres in northern Saskatchewan, Canada.

It said anomalous Radon-222 soil gas results had been identified over 700 metres in strike length, extending into the new staked ground.

A historical review, meanwhile, identified multiple occurrences of radioactive pegmatites, with scintillometer results up to 15,000 counts per second.

The company said the increased area also included two "highly anomalous" uranium-in-lake results, underlining the properties' general prospectivity.

Government data recorded four uranium occurrences on the property, with results returning 0.11% to 0.8% uranium.

"Work on our uranium interests has accelerated with further support in-house to take this important area of our business forward," said chief executive officer Paul Johnson.

"We have seven properties surrounding the Athabasca Basin in Saskatchewan Canada and, following technical review of our data compilation, the Soaring Bay uranium property has delivered an exciting set of results."

Johnson said the 12 kilometre structural feature identified with anomalous soil gas radon was a "great find".

"This included 700 metres of anomalous readings some of which fell outside of the property footprint.

"Fortunately, we were able to secure the additional ground, which remained un-staked, to cover this highly anomalous area in full.

"Work continues at pace on our Athabasca uranium interests and further updates are expected in the near future."

At 1552 BST, shares in Power Metal Resources were down 2.22% at 1.32p.

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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 1.55p
Change Today 0.050p
% Change 3.33 %
52 Week High 2.03
52 Week Low 0.83
Volume 12,578,732
Shares Issued 1,614.65m
Market Cap £25.03m
RiskGrade 378

POW Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
58.96% below the market average58.96% below the market average58.96% below the market average58.96% below the market average58.96% below the market average
80% below the sector average80% below the sector average80% below the sector average80% below the sector average80% below the sector average
Price Trend
62.69% above the market average62.69% above the market average62.69% above the market average62.69% above the market average62.69% above the market average
58.04% above the sector average58.04% above the sector average58.04% above the sector average58.04% above the sector average58.04% above the sector average
Income Not Available
Growth
23.74% above the market average23.74% above the market average23.74% above the market average23.74% above the market average23.74% above the market average
34.38% above the sector average34.38% above the sector average34.38% above the sector average34.38% above the sector average34.38% above the sector average

POW Dividends

No dividends found

Trades for 03-Oct-2022

Time Volume / Share Price
15:58 451 @ 1.55p
15:56 500 @ 1.51p
13:56 5,347 @ 1.55p
13:43 102,960 @ 1.53p
13:09 227 @ 1.51p

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