AIM-quoted Power Metal Resources (LON: POW) has spun-off Golden Metal Resources. The company owns the Nevada mining interests of Power Metal Resources, which comprise four assets - three wholly owned plus an earn-in option over a fourth.
Management believes that these are underexplored assets with good prospects. The Golconda Summit has the potential for a major gold discovery and this, along with the Pilot Mountain project will be the main focus.
Power Metal Resources has retained a 62.1% stake. Trading started at 8.75p and ended the first day at 8.125p. There were 1.12 million shares ...
