Power Metallic on non-deal New York roadshow
Power Metallic (TSX-V:PNPN) is currently in New York for a non-deal roadshow as the Canadian mineral explorer seeks a potential listing in the US.
Speaking exclusively to Mining.com.au from New York, CEO Terry Lynch is meeting with interested prospective investors, many of which have no mining exposure that are keen to become educated on the company and resources sector.
“A lot of them are taking these meetings just to learn,” Lynch tells this news service.
Lynch says from an investment return perspective, “the mining space is going to offer a superior performance over the next few years and so they’re (US investors) are looking for ways to participate”.
The CEO echoes sentiments of renowned US investor Rick Rule, who told Mining.com.au early July the bull market had already begun.
New York, New York
“We’re very bullish on the mining space overall. We think it’s under-invested and it’s ultimately going to have a great mining cycle. So, it’s a great time to be bullish on mining,” Lynch tells this news service.
“We have what we think are asymmetric opportunities.”
While Power Metallic is currently on a non-deal roadshow, Lynch confirms Power Metallic is going through the process now and is hopeful to list in New York this quarter, “so basically in September”.
The company is not seeking any further advisory mandates.
Listing in New York is seen as an ideal avenue to access capital although Lynch says floating on the Australian Securities Exchange (ASX) is still on the back-burner.
“We thought before we go there (ASX), which is still in the wheelhouse, we would go to New York and just see. Companies go and list in places like this because they feel they’re undervalued, right. They’re thinking, ‘Well, I’ve got to get access to more investors and hopefully better capital market performance’,” the CEO tells Mining.com.au.
“So we’re hoping that New York is the answer for us because it’s relatively simple and straightforward for us to do that. We love the ASX and I love the Aussie investors and we’ve had some great success there”
“So we’re hoping that New York is the answer for us because it’s relatively simple and straightforward for us to do that. We love the ASX and I love the Aussie investors and we’ve had some great success there.”
The move to dual list comes just months after Power Metallic was recently awarded an exploration licence for the Jabal Baudan Project in Saudi Arabia’s Jabal Sayid mineralised belt, as reported.
The Jabal Baudan Project, encompassing more than 200km2, is the largest of the seven exploration packages offered in the Jabal Sayid belt. The region is known for its massive volcanic sulphide deposits, including the Jabal Sayid Mine and the Umm ad Damar deposit.
Power Metallic says the milestone positions the company as one of the few foreign companies with mining concessions in the Kingdom of Saudi Arabia, having secured a bid in the prestigious licensing process.
Lynch says being awarded this licence marks a pivotal step in its strategy to expand its portfolio into one of the “world’s most promising mineral belts”.
“This achievement underscores our commitment to advancing mineral exploration globally and highlights our ability to secure high-value assets in competitive jurisdictions,” he adds.
Power Metallic is a Canadian mineral explorer focused on a diverse range of minerals. The company owns the Nisk Project in Canada, which is considered prospective for nickel, copper, platinum group elements, gold, and silver.
Write to Adam Orlando at Mining.com.au
Images: Power Metallic & Unsplash
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