Winsome Managing Director Appointed To Power Metals Corp Board

HIGHLIGHTS

• Winsome Resources Managing Director appointed to Board of Power Metals Corp
• Expands on recent acquisition of shares and offtake agreement from former Chinese owner Sinomine Rare Metals Resources
• Terms also being finalised for future collaboration on multiple projects

Mr Evans’ appointment follows Winsome’s recent acquisition from Chinese company Sinomine Rare Metals Resources of 5.72 per cent of Power Metals’ shares, an equal number of Warrants priced at CAD$0.40 and the rights to offtake from its Case Lake caesium, lithium and tantalum project in Ontario. Mr Evans will replace a resigning Sinomine director.

Power Metals aims to work with Mr Evans, given his previous experience, and that of the broader Winsome team, to fast-track development of the Case Lake Project. For further information with respect to Power Metals and the Case Lake Project, refer to the Company’s announcement dated 2 December 2022.

Mr Evans served as COO of Altura Mining, during development of its Pilgangoora mine in Western Australia, now owned by Pilbara Minerals and targeted to be one of the world’s largest hard rock lithium mining operations.

At the same time, Power Metals and Winsome are setting out terms under which both companies can cooperate and combine assets to develop Case Lake and other projects into the future. These terms will be defined in a formal Collaboration Agreement, expected to be finalised in early 2023.

WINSOME RESOURCES MANAGING DIRECTOR CHRIS EVANS SAID:

“I am honoured to accept this role on the Board of Power Metals Corp. With Winsome recently becoming a substantial shareholder in Power Metals and acquiring the rights to offtake from the Case Lake Project, this position is a natural fit and provides a great opportunity to assist and influence future directions.

“Both companies bring significant experience and opportunity to the table, and it is our intention to leverage the combined experience and assets as we move forward with development of Case Lake and other projects held by each company.”

POWER METALS CORP CHAIRMAN, JONATHAN MORE SAID:

“We welcome Mr. Evans to the Board of Power Metals. He has done an amazing job to date with Winsome Resources and his track record is impeccable. Our next step is to form a formal Collaboration Agreement between our two companies. This will bring immense value to all of our shareholders as we will be able to leverage our combined assets and experience.”

Click here for the full ASX Release

This article includes content from Winsome Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.