- Power Metal Resources said it was making final preparations for a drilling planning related to the Molopo Farms Complex project in Botswana.

The project was being developed by Kalahari Key Mineral Exploration, in which Power Metal had an 18.3% shareholding.

Power Metal had also elected to earn in to a 40% direct interest in the project by spending $500k on exploration, notably target drilling, in 2020.

'Kalahari Key continue to make progress toward the objective of drilling major nickel sulphide targets in Botswana,' chief executive Paul Johnson said.

'The team at Kalahari Key are continuing to work with the Botswana authorities to secure approval of the Environmental Management Plan, which is the final regulatory step before launch of the drill programme.'

Two Shields Investments, which has a 17.8% stake in Kalahari Key, welcomed Power Metal's announcement.

At 9:22am:

[LON:POW] share price was -0.1p at 1.2p

[LON:TSI] Two Shields Investments Plc Ord 0.1p share price was +0.01p at 0.11p

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