Future Metals is celebrating its first day of dealings on London’s alternative market while focusing on the multi-million tonne potential of the Panton platinum group metals project near Halls Creek in Western Australia.
The company is preparing to commence a detailed exploration of the site, estimated to contain 14.3 million tonnes of combined platinum, gold and nickel resources over 23 square kilometres while enjoying entry onto the London Stock Exchange’s Alternative Investment Market.
While nickel outlook for nickel and gold remains robust, a global semiconductor chip short that began earlier in the year has pushed prices on PGM’s above $US1,000 per ounce in mid-October, recovering from an 11-month low of around $US914/oz in September.
“The company has 100 per cent ownership of the project, which has a substantial and high-grade JORC Mineral Resource Estimate, which is incredibly exciting for Future Metals given PGMs are in high demand,” chairman Greg Bandy said.
The next step will be implementing exploration and development plans for the project comprising further drilling, metallurgical test work, process design and mining, development and other technical studies.
Amendment to Adviser Options
In light of the increase in the Company’s share price since its recommencement of trading on the ASX on 22 June 2021, the Company has agreed with its nominated adviser, Strand Hanson Limited, to amend the terms of the previously approved 6 million options exercisable at 12 cents.
Accordingly, Strand Hanson will now receive 7 million options, exercisable at a share price of AU $.018.
The company will continue to trade on the Australian Stock Exchange under the ticker symbol FME.
FME’s Australian Stock Exchange-listed shares were trading at 20.5c (11.01 am GMT+ 8 hours).