First Development Resources First Day of Dealings
First Development Resources commenced trading on AIM after raising £2.3m gross; Power Metal holds 43.44%.
- FDR gross proceeds raised £2.3 million
- FDR market capitalisation on Admission £7.06 million
- Power Metal's stake in FDR 43.44%
Select text to share a quote on X · sign in to keep highlights & notes in your POW notes
Power Metal Resources PLC (AIM:POW), the London-listed exploration company with a global project portfolio, is pleased to announce that First Development Resources PLC ("FDR") will commence trading on AIM at 8:00am today, under the ticker FDR.
As part of the admission to trading on AIM ("Admission"), FDR raised gross proceeds of £2.3 million. On Admission, FDR will have a market capitalisation of £7.06 million, and Power Metal will hold 43.44% of FDR's issued share capital.
Sean Wade, CEO of Power Metal Resources, commented:
"I am thrilled to notify our shareholders that First Development Resources has successfully been admitted to trading on London's AIM market.
"This achievement is testament to the dedication and hard work of Tristan Pottas and the whole FDR team, and I look forward to seeing future market updates from the company as it progresses its highly prospective exploration assets, now with access to a world-leading market and potential investor base.
"The listing of FDR is another successful case study for our business model, and serves as further validation of our ability to identify, develop and crystallise the value of promising mineral assets."
Shareholders wishing to learn more about First Development Resources, may view the company's website through the following link: www.firstdevelopmentresources.com
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.