Power Metal Resources Plc (GB:POW) has released an update.
Power Metal Resources Plc, a London-listed exploration company, has announced progress in the establishment of a new uranium-focused joint venture, stating that legal due diligence is complete and transaction documents are nearing finalization. The joint venture will encompass Power Metal’s entire portfolio of uranium licences through a special purpose vehicle, UCAM Ltd. While some administrative tasks are still pending, the company anticipates the completion of the deal by the extended deadline of 27 September 2024.
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