Video: LSE-listed uranium junior Power Metals lands in North America

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: