Power Metal Resources’ Post

🤝 Completed Acquisition – Strategic Metals Extraction Power Metal becomes 75% owners of GSA (Environmental) Limited Read the full announcement here: https://bit.ly/3V2UI9H Power Metal Resources PLC (🇬🇧AIM:POW, 🇺🇸OTCQB:POWMF) is pleased to announce the completion of the acquisition of 75% of the Issued Share Capital of GSA (Environmental) Limited (“GSAe”) initially announced on 29 February 2024. ⏩ Following successful completion of due diligence and customary pre-conditions, all parties have executed on the Share Purchase Agreement making Power Metal Resources 75% owners of GSAe. ⏩ GSAe is a privately owned UK-headquartered engineering technology provider and process licensor, which specialises in the extraction of critical and strategic metals from ‘secondary sources’ including power station ash, refinery waste, titanium dioxide waste and spent catalysts focused on creating a suite of by products rather than industrial waste. ⏩ GSAe aspires to be the first-choice global provider of technological solutions to environmental problems posed by toxic metals in waste products. 📢 Sean Wade, CEO of #POWMet, commented: “I am delighted to announce the completion of this seminal transaction for Power Metal. We have very exciting plans for this business and are looking forward to updating shareholders soon on contract signings and progress towards a significant revenue contribution to the Power Metal portfolio.” $POW $POWMF #POW #acquisition

It appears to be all systems go for Power Metal Resources PLC and its wholly-owned Saudi subsidiary, Power Arabia Ltd. In an update, investors were told the latter is in the final stages of negotiating 'several' binding memoranda of understanding for potential joint ventures on existing exploration licences. Subject to the successful execution of one or more of these agreements, initial exploration activities are slated to begin in April, following the conclusion of the Ramadan and Eid celebrations. At the same time, Power Arabia has embarked on a pre-IPO financing round aimed at supporting its regional activities and paving the way for a future listing in London. The initiative has attracted considerable interest from investors within the Gulf and internationally, highlighting the potential of a regionally focused investment vehicle, Power Metal said. More at #Proactive #ProactiveInvestors #powermetalsresources #powerarabia http://ow.ly/LoA2105lyEY

Power Metal Resources PLC (AIM:POW) has signed a non-binding Memorandum of Understanding (MoU) with the Ministry of Investment of the Kingdom of #SaudiArabia (MISA). "The purpose of the MoU is to explore the possibility of joint collaboration efforts toward the identification and realisation of high-value-added investment opportunities utilising the Kingdom's natural resources," said the statement. #PowerMetalResources will offer technical support to potential exploration projects and MISA will provide project opportunities and potential support for such projects as applicable.  Sean Wade, #PowerMetal chief executive, said: "We are honoured to partner with the Ministry of Investment of #Saudi Arabia. “This MoU is indicative of our commitment to exploration in the Kingdom, and it paves the way for us to explore exciting opportunities in one of the world's most resource-rich countries." More at #Proactive #ProactiveInvestors #AIM #POW http://ow.ly/wwQk1058CAW

🇸🇦 Power Arabia Limited Update Power Metal Resources is pleased to update shareholders on the progress being made through its 100% owned subsidiary company, Power Arabia Ltd. Read the full announcement here: https://bit.ly/3wPTAN7 💡Highlights: ♦️ Memorandum of Understanding signed with Ministry of Investment of the Kingdom of Saudi Arabia (MISA) at Future Minerals Forum, as announced on 12 January 2024 ♦️ Power Arabia has been established to encompass all of #POW’s activities across the Arabian Gulf. This could also include projects outside the Gulf in joint venture with entities domiciled within the region ♦️ Several binding MoUs for potential joint ventures on existing exploration licences are currently in the final stage of negotiation and, assuming execution of one or more of these, initial groundwork is expected to commence in April, after Ramadan and Eid al-Fitr. ♦️ Power Arabia is currently undergoing a pre-IPO financing round to fund activities in the region with a view to a listing on the London capital markets in due course ♦️ Conversations are progressing with investors, both from the Gulf and internationally, who have indicated significant interest in a regionally focused investment vehicle 📢 Sean Wade, CEO of Power Metal Resources #POWMet, commented: “I am very pleased to update shareholders on the progress we are making in this exciting part of our business. We have now made several trips to the region and are establishing ourselves as a credible partner for a number of existing licence holders. We are currently looking at formal arrangements to acquire suitable exploration opportunities with various separate entities, of which several are currently close to execution. It is clear that our successful incubator model has resonated with regional investors and we are intending to shortly complete a financing round for Power Arabia with a view to completing transactions in the region and getting started on meaningful exploration work. As has been the case with previous portfolio transactions, POW is expected to retain a significant shareholding in Power Arabia, giving our shareholders substantial upside potential from discoveries, but without diluting their shareholding in POW and asking them to fund all of the exploration costs. Whilst there is never complete certainty of a successful outcome, of either the pre-IPO financing or the listing of Power Arabia on the London capital markets, we are very excited to bring this IPO to London and strongly believe that our model will be successfully replicated across the Arabian Gulf region and will deliver significant value to shareholders.” #SaudiArabia #exploration #MoU #preIPO

14 potential investors show interest in LGL and LGT divestiture Fourteen potential investors have shown interest in the strategic divestiture of Litro Gas Lanka Ltd (LGL) and Litro Gas Terminals (Pvt.) Ltd (LGT), the State-Owned Enterprises Restructuring Unit said. The Requests for Expression of Interest (REOIs) were considered by the Opening Committee appointed by the Special Cabinet-Appointed Negotiating Committee. The 14 REOIs were received from Epdesa Pte Ltd – Singapore, Bharat Petroleum Cop. Ltd – India, Ayaz Anonim Sirketi – Republic of Turkey, Siam Gas and Petrochemicals Public Company Limited – Thailand, BGN Int DMCC – UAE, Confidence Petroleum India Limited – India, OQ Trading Limited – UAE, Tristar Group – UAE, Laugfs Gas PLC – Sri Lanka, United Petroleum Holdings – Malaysia, Vitol Asia Pte Ltd – Singapore, Infinity NGC – Sri Lanka, China National Aero Techno – Sri Lanka and Consulting Engineers & Contractors – Sri Lanka. The REOIs will be evaluated by the Special Project Committee, as per the Special Guidelines on Divestiture of State-Owned Enterprises, approved by the Cabinet of Ministers in July 2023. Deloitte India acts as the transaction advisor for the strategic divestiture of LGL and LGT. Called on the international and local media on January 16, the deadline for submission of proposals ended at 2:00 p.m. yesterday (15). Source: https://lnkd.in/gFAP4hab #LitroGasLanka #FinanceInsights #FinanceNews

The Abu Dhabi National Oil Company is nearing a €14.4bn agreement to take over the German chemicals group Covestro, setting up the Gulf state-owned energy producer to expand its overseas holdings. Covestro has agreed to enter “concrete negotiations” after the UAE’s ADNOC Group boosted its proposal to €62 per share. Adnoc had previously offered €60 per share. The news sent Covestro’s share price 6 per cent higher to €54.52 by early afternoon in Frankfurt on Monday in what would be the largest acquisition in Europe this year and the biggest all-cash deal in the chemicals sector. Credit: Malcolm Moore Arjun Neil Alim and Ivan Levingston via Financial Times #germany #abudhabi #acquisition #chemicalsector #covestro #adnoc https://lnkd.in/ep22NG4c

🙅♂️ ADNOC gives up on Braskem acquisition The Abu Dhabi National Oil Company (ADNOC) is no longer interested in buying Novonor’s controlling stake in the Brazilian petrochemical giant Braskem. Since the decision was made public, Braskem’s share price crashed by almost 15 percent. ADNOC’s withdrawal from the deal comes after long negotiations and due diligence on Braskem. Initially, the Gulf company made a purchase proposal together with the U.S.-based manager Apollo a year ago. In November, ADNOC — this time without Apollo — reiterated its proposal with a non-binding offer, saying it would pay BRL 10.5 billion (USD 2.1 billion) to control Latin America’s largest petrochemical company. Now, it has backed away from the deal. Novonor is an infrastructure group formerly known as Odebrecht. Once towering over competitors, Odebrecht was at the center of the biggest corruption scandal in Brazilian history, uncovered by the years-long anti-corruption task force Operation Car Wash. Novonor currently holds 50.1 percent of Braskem’s ordinary shares and 38.2 percent of its total capital. Selling its stake in the petrochemical would be instrumental in its financial recovery. 🔗Read more in our full article by Fabiane Ziolla Menezes here 👇 https://lnkd.in/dMdNTSNt #OilandGas #Tragedy #Business #Petrochemical

⛏️ Sylvania Platinum, the #PGM producer and developer focused on #SouthAfrica, has announced its Q3 FY2024 results for the three months ended 31 March 2024. The SDOs produced 17,232 4E #PGM ounces over the Period and recorded $20.3m net revenue During the Period, Doornbosch achieved three years LTI free, with only one recorded at all operations. There was no load curtailment at any of the operations this Quarter, with a backup generator installed at Lesedi and the Millsell standby generator to be completed in Q4. Development at the Thaba JV project is on schedule, with the design, bulk power supply, environmental approvals, procurement, and construction elements all progressing with first production still expected for HY2 FY2025. At #SLP’s mineral asset development projects, an updated MRE for the combined Volspruit North and South ore bodies was completed and announced in February which provided a 10% increase in the indicated tonnage from the previous MRE and improved the 4E grade by 4%. #SLP also declared a Special Dividend of 1p, payable on 7 June 2024, following the early settlement of the loan and sale price relating to the Grasvally Chrome Mine. Payment will be made to shareholders on the register at close of business on 10 May 2024. #SLP maintains a strong cash reserve, enabling the funding of expansion and JV initiatives, process optimisation, and upgrading exploration and evaluation assets. The PEA and metallurgical test-works for Volspruit are expected Q4 FY2024. Read the full announcement ➡️ https://ow.ly/gKqp50RsoQ7

#Hess reports 180% profit jump, driven by Payara start-up in #Guyana. Hess Corporation's recent earnings report showcased a staggering 180% profit increase in the first quarter of 2024, highlighting the extraordinary economic strength and potential of Guyana's natural resource sectors. The 'So What?" Robust Regional Economy: Hess’s success is a testament to the thriving market conditions in Guyana, directly benefiting industries like ours in gold mining and sustainable timber. Boosted Investor Confidence: This remarkable growth not only boosts investor confidence but also magnifies the appeal of investing in Guyana, where HRI is strategically positioned to thrive. Check out our other news articles about how Guyana is the leading market in LATAM and the world. Infrastructure and Global Interest: As the oil sector propels infrastructure advancements and global attention, HRI stands to benefit from reduced operational costs and expanded opportunities. There are numerous plans to expand highways, the power grid, and boost education within the country. Validation of Strategic Choices: Hess's achievements validate our strategic decision to operate in Guyana, promising significant returns and sustained growth. 🔗 Stay Connected: Follow our journey and check back for more articles about Guyana developments and HRI projects as they unfold. https://lnkd.in/dTQYB-s8

Meet 𝗠𝗿 𝗟𝗶𝗺 𝗔𝗵 𝗖𝗵𝗲𝗻𝗴, CEO of Dyna-Mac Holdings Ltd! Ah Cheng LIM Dyna-Mac Engineering Services Pte Ltd stands out as a global EPC service provider in the global energy market. The company performs Engineering, Procurement & Construction of modules and specialised structures for offshore facilities and onshore plants for the hydrocarbons industry. Discover how Mr Lim leveraged on the company's bonus warrants issue to boost cashflow and capitalised on additional capacity from its latest acquisition, Exterran Offshore. Following the recent unveiling of robust FY2023 results, Mr. Lim also highlighted bright prospects for the core FPSO market in the coming year. 🔗 𝙍𝙚𝙖𝙙 𝙢𝙤𝙧𝙚: https://www.dyna-mac.com/ #DynaMac #Hydrocarbons #FPSO #GEMCOMM #GC #InvestorRelations #GEMCOMMIndustryInsights #IndustryInsights #GEMCOMMClientFeature #GCCF #GEMDigitalMedia