Power Metal extends First Development Resources option agreement


Mining company Power Metal Resources said it had secured a further short extension to its option to acquire First Development Resources.

The target was an Australian company with copper-gold focused exploration interests in the Paterson Province in the eastern Pilbara Region of Western Australia.

The original option agreement was announced on 19 January and its exercise period expired on 8 April 2021 before being extended to 16 April

'A further short extension has now been agreed with the vendors to 23 April, which is necessary to allow the Power Metal team sufficient time to finalise due diligence work including work in respect of additional projects in the Paterson Province that may be suitable for acquisition to further build the portfolio,' the company said.

At 8:01am: (LON:POW) share price was 0p at 1.9p

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