Power Metal Resources PLC (LON:POW) has noted that Katoro Gold PLC (LON:KAT) has raised £215,000 in new money.

Power Metal holds 10mln shares in Katoro Gold, or 4.7% of the company, as well as 10mln warrants exercisable at 1.25p.

Katoro’s fundraising was done at 1.25p.

Power Metal also has a 25% interest in Katoro’s Haneti polymetallic project in Tanzania, with a right to increase its interest to 35% by a payment to Katoro of £25,000 in cash by 15 May 2020.