Which US presidential candidate does gold prefer?
Gold loves chaos and should be hitting new highs, especially with inflation coming down and with it, two rate cuts likely before year’s end.
Power Metals Resources (LSE: POW; US-OTC: POWMF) CEO Sean Wade says there are plenty of catalysts for the London-listed prospect generator just listed on the OTC.
The company, which holds a portfolio including precious, base and strategic metal exploration in North America, Africa, Saudi Arabia and Australia, was admitted to the OTCQB market in April, giving it access to a wider pool of capital in North America, he said at the Rule Symposium in July in Boca Raton, Florida.
“We’ve had a fantastic response on the OTC listing just this week, with people coming up and talking about the company and then buying shares. It’s made a huge difference,” he said in an interview.
A major unnamed uranium player is set to take a 70% stake in a package of uranium assets in the Athabasca, which Wade says will unlock a large sum of cash. Power Metal also plans a spin-out and an initial public offering for its Australian uranium assets by year-end.
The company further is raising about £15 million ($26.6 million) in a pre-IPO round for their Power Arabia business to capitalize on precious metals opportunities in the Arabian Shield.
Watch the full interview with The Northern Miner’s western editor, Henry Lazenby:
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