Power Metal Resources - recent tip gains but more to come? HotStockRockets updates...

Versarien cheerleader explains why it is okay to murder Tom Winnifrith for journalism HERE

Recent tip Power Metal Resources (POW) “is pleased to  announce that following the successful completion of project due diligence, Power Metal has agreed terms to acquire an option to earn-in to the Alamo gold project in west-central Arizona, USA” – and the shares have currently responded significantly higher...

Supply @ ME – remembering the fraud Quindell and Equities First: is this a carbon copy? Read from Nigel Somerville HERE

The project is a package of mining claims covering an area of approximately 766 acres originally identified as prospective for gold following the discovery of native gold nuggets near surface in a number of locations within the project boundaries. For the option, Power Metal is to issue 8 million new shares at a stated 0.6p each and 8 million warrants exercisable at 1p each.

Read HERE: AEX Gold lists on AIM because, of course, it will be different this time. Not!!!!!

The company details it “can earn-in to up to a 75% interest in the Alamo gold project by expending US$250,000 (circa £199,560) on property and final earn-in payments over a four year period and exploration spend of $850,000 (circa £678,504) over a three year period” and is “now finalising the initial exploration programme which is likely to be centred on geochemical sampling and project mapping”.

Read HERE: Cora Gold – pleased to announce an “Additional New Discovery”, BUT...

As noted on the tip, this is early-stage stuff, but it is from a current market cap of still below £7.5 million and, together with the company’s various other project interests with upcoming potential catalysts and particularly in the currently ‘hot’ Victoria Goldfields, Australia and its spin-off potential, we consider our initial circa 1p target to sell may prove conservative in the current stockmarket environment. Thus, although already well up from our 0.60p offer price tip just over a week ago, currently at worst a hold.

This article first appeared on HotStockRockets - to catch the next red hot share tip from the HotStockRockets team THIS AFTERNOON for just £5.50 click HERE

Filed under: Power Metal Resources, Versarien, [email protected], AEX Gold, Cora Gold, HotStockRockets

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