Power Metal Resources PLC (AIM:POW, OTCQB:POWMD) has inked an agreement with Saudi Arabian mining firm Al Masane Al Kobra (AMAK) for the Qatan exploration licence. It envisages Power Metal taking a 49% interest in Qatan, a set of exploration licences spanning a 72.247 square kilometre area of Saudi Arabia, near AMAK's existing copper and zinc mining operations Power Metal can earn this stake by spending $3 million on exploration.
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