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Power Metals Corp V.PWM

Alternate Symbol(s):  PWRMF

Power Metals Corp. is a Canada-based diversified mining company. The principal business of the Company is the acquisition, exploration and evaluation of resource properties. Its exploration project includes Case Lake property. Case Lake Property is located in Steele and Case townships, 80 km east of Cochrane, NE Ontario, close to the Ontario-Quebec border. The Case Lake pegmatite swarm consists of six spodumene dykes: North, Main, South, East and Northeast Dykes on the Henry Dome and the West Joe Dyke on a new tonalite dome. The Case Lake Property is 10 km x 9.5 km in size and consists of 475 cell claims. The Case Lake pegmatite swarm occurs along a sub provincial boundary between the metasedimentary Opatica Sub province to the north and greenstone Abitibi Sub province to the south. The Company has staked the Pelletier Project consisting of approximately 337 mineral claims that account for total surface area of 7000 hectares in northeast Ontario , approximately 50 km south of Hearst .


TSXV:PWM - Post by User

Post by trader53on May 15, 2024 5:27pm
169 Views
Post# 36042080

Canaccord Buying!

Canaccord Buying!House 33 Canaccord Bought 260,000 shares today and had over 150,000 buy orders left on the bid. My guess is this buying came out of Canaccord Australia. Rather than just sitting on the bid they were lifting offers all day! If I am right, I have to assume Winsome are loving what they are seeing at Case Lake. With positive results I would also expect that we will see Waratah come into the market either with a flow thru equity raise and or accumulation from the open market. Remember Waratah owns 26,000,000 shares of Winsome and only 3,000,000 shares of PWM. With a 4.5 billion dollar fund I cannot imagine they would be happy with such a small position. Any suggestion of production my guess is they would want to take an equity position along with their royalty of 2% through lithium royalties. + 13.5% stock move today!
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