Power Metal Secures 20% of Saudi Balthaga Project as Data Reboot Uncovers New Critical Metals Targets

Power Metal Resources Plc ( (GB:POW) ) has provided an update.

Power Metal Resources has completed the initial US$350,000 earn-in expenditure at the Balthaga project in Saudi Arabia, securing a 20% stake and the right to increase its interest by a further 10% through additional near-term spending. A comprehensive re-assessment of the project, based on newly acquired geological, geochemical and geophysical data from the Saudi Geological Survey and historic work, has significantly refined the geological model and identified 12 revised targets prospective for granite-related rare metals such as lithium, tin, tungsten, niobium, tantalum, beryllium and rare earth elements. The work confirms Balthaga’s location within a highly evolved and mineralised crustal terrane, highlights specialised Dahul and Huqban granite intrusions enriched in multiple critical metals, and delineates zones of elevated prospectivity scores in stream sediments and soils, including a major fault-bound corridor within Huqban. Although ore-grade rock samples have not yet been recovered, the technical synthesis, independently reviewed by SRK Consulting, underpins plans for further soil sampling, trenching and drilling, bolstering the project’s role in EV Metals Group’s mine-to-refine strategy and aligning with Saudi Arabia’s Vision 2030 ambitions to build a domestic critical minerals sector.

Spark’s Take on GB:POW Stock

According to Spark, TipRanks’ AI Analyst, GB:POW is a Neutral.

Power Metal Resources Plc’s overall score reflects strong revenue growth and a solid balance sheet, partially offset by operational challenges and negative cash flows. The stock’s undervaluation provides an opportunity, while technical indicators suggest caution due to bearish trends.

To see Spark’s full report on GB:POW stock, click here.

More about Power Metal Resources Plc

Power Metal Resources PLC is a London-listed mineral exploration and project incubation company with a global portfolio, focused on discovering and advancing mineral assets, particularly critical and specialty metals. Through its majority-held subsidiary Power Arabia Ltd, the company is active in the Arabian Shield in Saudi Arabia, where it partners with regional players to develop projects targeting rare earth elements and other high-value battery and technology metals.

Average Trading Volume: 404,293

Technical Sentiment Signal: Hold

Current Market Cap: £16.76M

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