First Class Metals is seeking gold, base metals and/or battery metals in Canada. The cash raised will finance ongoing exploration at North Hemlo and other projects.
AIM-quoted Power Metal Resources (LON: POW) has a 28.2% stake in First Class Metals, having sold its Schreiber-Hemlo project interests in Ontario for 333,334 shares at 300p each in September 2011 and then subscribed for a further 9,588 shares at the same price. There was a subsequent bonus issue. The value of the stake has increased from £1.03m to £1.85m. There are warrants to subscribe for 517,705 shares at 10p each.
The sh...
