Power Metal Resources

Power Metal Resources has begun a programme to define drill targets at the Balthaga project in Saudi Arabia after fulfilling initial earn-in obligations and securing a 20% interest. The two‑phase exploration programme initially involves mapping and rock sampling, with geochemical infill soil sampling along the Hugban intrusion corridor planned from mid‑March 2026. The project covers 13 contiguous licences totalling 1,290 km² and is considered prospective for granite-hosted rare earth and critical metals; Power Metal aims to increase its interest to 30% through further exploration expenditure. » More on de.investing.com

The High Court of Justice has approved the plan proposed on 19 September to reduce the share capital of Power Metal Resources. Paid-up capital will be reduced by £0.009 per Deferred Share and £0.00099 per Deferred A Share; the Share Premium Account and Capital Redemption Reserve will be cancelled to create distributable reserves. The number, nominal value and rights of the issued ordinary shares remain unchanged; registration at Companies House by 24 December will bring the measure into effect. » More on de.investing.com

Power Metal Resources said the court hearing on the planned capital reduction has been moved to 9 December 2025. The adjourned session will serve as a confirmation hearing where creditors or shareholders can lodge objections. The measure aims to create distributable reserves and, if approved, would likely take effect around 24 December 2025, subject to court orders and filings at Companies House. » More on de.investing.com