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Power Metal to execute earn-in option for 40% stake in nickel-copper-PGM project

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Power Metal to execute earn-in option for 40% stake in nickel-copper-PGM project

Power Metal Resources PLC said Dec. 31, 2019, that it has decided to earn in to a 40% stake in Kalahari Key Mineral Exploration (Pty.) Ltd.'s Molopo Farms Complex nickel-copper-platinum group metals project in Botswana.

To earn the 40% interest, Power Metal has to spend US$500,000 on project related expenditure to support drilling of key nickel-copper-PGM targets in 2020.

Power Metal holds 18.26% of Kalahari equity and upon earn-in completion, the company will hold an effective economic interest of 50.96% in the project.