Golden Metal Resources PLC begins trading on London's junior market today, spun out of Power Metal Resources PLC with its Nevada-based exploration assets and a fresh £2mln of new funding.
The explorer, which has an initial market capitalisation of £7.2mln based on its issue price of 8.5p per share, will be focused on tungsten, gold, copper, silver and zinc within the western US state.
Chief executive Oliver Friesen highlighted the company's "four diverse exploration and development assets located wholly within one of the top mining jurisdictions in the world".
He proffered the Pilot Mountain tungsten project "offers the greatest potential for exploitation, given that the US currently has no domestic primary production of the metal and is looking to reduce its heavy reliance on imports of critical metals from China".
On admission, Power Metal holds a 62.1% stake in Golden Metal.
