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Power Metal glow up on uranium

6 October 2022 12:11
LON: POW

Power Metal Resources have added the Badger Lake property to its uranium portfolio, making it a hefty 829.58 square kilometres of territory in Canada’s Athabasca Basin.

Badger Lake is encircled by other uranium focused companies in the prolific basin host to the world’s highest-grade deposits in the midst of a global shift towards nuclear.

Exploration is moving forward across the Athabasca portfolio, with a successful programme over the wholly owned Thibault Lake, Clearwater and Tait Hill properties all resulting in multiple locations of anomalous radioactivity.

And half a world away in Botswana, potentially transformational drilling for large scale Molopo Farms nickel discoveries is ongoing after the reveal of multiple top priority conductors.

The company said with so few uranium investment opportunities in the London markets, the buildup of its uranium portfolio was significant.

“A key part of our Company, seeing us uniquely well positioned for what we expect to be a significant increase in the level of interest in junior resource companies offering uranium exposure,” chief executive Paul Johnson said.

Power Metal are additionally compiling fact sheets highlighting historical data over its Reindeer Lake, Old Woman Rapids and Porter Lake uranium properties.

POW’s London Stock Exchange-listed share price is currently trading at 1.5 British pence (11.27 am UTC+ 8 hours).

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