First Development Resources is a minerals exploration company spun out from AIM-quoted Power Metals Resources (LON: POW) and it is focused on three prospective projects in Western Australia and one in Northern Territory.
The core project is at Wallal in Western Australia, and a drilling contractor has been appointed. Infrastructure is being prepared for drilling to commence as soon as possible at the copper gold project.
The cash raised in the flotation will fund the work programme and the overheads of the group. The first phase of Wallal project drilling should cost £315,000, and then ...
