Uranium & Rare Earths Acquisition – Australia

19 November 2021

Power Metal Acquires the Selta Uranium and Rare-Earth Element Project, Located in the Northern Territory, Australia, through Subsidiary First Development Resources Limited

Power Metal Resources plc (LON:POW), the London listed exploration company seeking large-scale metal discoveries across its global project portfolio, announces it has signed an Agreement ("Agreement") for the 100% acquisition (the "Acquisition") of the Selta Project ("Selta" or the "Project"), located in the Northern Territory, Australia.

A map showing the location of the Selta Project may be viewed through the following link:The Acquisition will be undertaken by Power Metal subsidiary, First Development Resources Limited ("FDR"), in an all FDR share transaction to acquire a 100% interest in URE Metals Pty Limited ("URE"), a private Australian company which wholly-owns the Selta Project.FDR is a special purpose company set up by Power Metal to act as a vehicle for a planned listing on the London capital markets; with a […]

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