TIDMGMET TIDMPOW
RNS Number : 6699B
Golden Metal Resources PLC
05 June 2023
5 June 2023
Golden Metal Resources plc
('Golden Metal' or the 'Company')
Appointment of Strategic United States Government Advisor
Issue of New Ordinary Shares
Golden Metal Resources plc (LON:GMET), a mineral exploration
company focused on tungsten, gold, copper and silver within Nevada,
USA, announces the appointment of Mrs. Chang Oh Turkmani as a
Strategic United States Government Advisor to the Company with
immediate effect.
As Strategic United States Government Advisor to the Company,
Mrs. Turkmani will be responsible for helping the company advance
its critical minerals strategy within Nevada and the broader United
States.
Golden Metal will be providing an update to the market in
regards to its United States awards strategy shortly which will
include further details on the awards process, timelines, and
specific awards that the Company intends to pursue, with a
particular focus on seeking US government supported funding for the
Pilot Mountain Project.
Biography:
Mrs. Turkmani is a respected, multilingual businesswoman with
extensive experience in the import and export of industrial
commodities, as well as the mining, manufacturing, construction,
energy trading, shipping, environmental remediation, renewable
energy, and investment advisory industries. She leverages her
expertise in investing in critical minerals ranging from lithium,
cobalt, nickel, tungsten, and rare earths, government procurement,
structuring major infrastructure projects, and strategic planning
to help oversee corporate execution.
Mrs. Turkmani is Managing Director and Principal of The Mega
Company, based in Washington, DC - a role she has held since 1990.
The Mega Company is a private American development company and
import and export business that principally deals with industrial
raw materials and goods, including iron ore, metallurgical coal,
rock phosphate and cement. She is Principal of American
Construction Technologies, Mega Distribution and Key Logistics
Centre, based in Bucharest, Romania, where she is responsible for
the development, construction and management of one of the largest
US developments in the highly specialized field of
temperature-controlled warehouses and logistics. Mrs. Turkmani led
the companies through significant organic growth and infrastructure
development.
Other leadership roles include Managing Director at CDM Global,
which is an environmental remediation and industrial waste
management, environmental due diligence, permitting and impact
assessment business, and Crest Energy, which is in the production
of renewable energy and wholesale trading of electricity.
Originally qualifying as a lawyer with Dow, Lohnes & Albertson,
she moved to work for Patton, Boggs & Blow in Washington,
DC.
She holds a Bachelor's and a Master's degree from Northwestern
University and a Juris Doctorate from Georgetown University Law
Center in Washington, DC where she has been Adjunct Professor of
Law for more than 16 years teaching Pre-negotiation Strategies for
Cross-Border Transactions. She is a qualified lawyer in the US,
having specialised in International Trade, Cross-Border
Negotiation, Due Diligence, and Dispute Resolution. She received a
U.S. Presidential Appointment to be a Board member on the National
Cancer Advisory Board, is a Board member of the American Romanian
Business Council, and a Board Member and Finance Chair of Alianta -
a U.S. non-profit organisation working to strengthen the cultural,
economic and security ties between the United States and Romania.
In addition to numerous accolades, she was knighted Dame by the
Order of Knights Templar.
Oliver Friesen, CEO of Golden Metal, commented:
"Let me be the first to welcome Mrs. Turkmani to the Golden
Metal team. She brings a wealth of experience and connections
within Washington D.C. and the US Government which will be hugely
valuable to Golden Metal as we rapidly push forward the defense and
critical metals strategy of our flagship Pilot Mountain
Project.
"Significant amounts of non-dilutive grant funding have recently
been made available by various US government departments including
the Department of Defense (DOD), Department of Commerce (DOC),
Department of Energy (DOE) and Department of Minerals (DOM) among
others. With Mrs. Turkmani now engaged as a Strategic United States
Government Adviser to the Company, we look forward to rapidly
advancing this strategy and communicating to the market the steps
being taken in this regard."
Further Details
Mrs. Turkmani will be paid a fee equivalent to GBP34,250 per
annum and she is engaged for a 2 year period, with the possibility
of extension. The total contract value over 2 years is therefore
GBP68,500, to be satisfied through the issue to Ms. Turkmani of
805,882 new Golden Metal ordinary shares of 1.0p ("Ordinary
Shares") at an issue price of 8.5p per Ordinary Share ("Contract
Shares").
The issue price of the Contract Shares equates to Golden Metal's
share price on its admission to AIM on 10 May 2023.
Following issue of the Contract Shares, Mrs. Turkmani's total
interest in Golden Metal, including those acquired during the IPO
financing by The Mega Company (which is beneficially owned by Mr
Salah Turkmani, the husband of Mrs. Turkmani), will amount to
3,747,058 representing to 4.41% of the Company's issued share
capital.
Admission and Total Voting Rights
Application will be made for the 805,882 Contract Shares to be
admitted to trading on AIM which is expected to occur on or around
9 June 2023 ("Admission"). The Contract Shares will rank pari passu
in all respects with the existing Ordinary Shares currently traded
on AIM.
Following Admission, the Company's issued share capital will
comprise 85,000,255 Ordinary Shares. This number will represent the
total voting rights in the Company and may be used by shareholders
as the denominator for the calculation by which they can determine
if they are required to notify their interest in, or a change to
their interest in, the Company under the Financial Conduct
Authority's Disclosure and Transparency Rules.
For further information visit www.goldenmetalresources.com or
contact the following:
Golden Metal Resources plc Tel: +44 (0) 20 7583 8304
Oliver Friesen (CEO)
Cairn Financial Advisers LLP Tel: +44 20 7213 0880
Nominated Adviser
Sandy Jamieson/Jo Turner/Louise
O'Driscoll
--------------------------
First Equity Limited Tel: +44 20 7374 2212
Broker
Jonathan Brown/Jason Robertson
--------------------------
The Projects:
Pilot Mountain Project
The Pilot Mountain project is an advanced exploration and
mineral resource definition stage project located in Mineral County
in western Nevada. The project covers an area of 14.80 km(2)
(3,656.1 acres) and is located 200km southeast of Reno and 18km
east of Mina, Nevada. It is well situated for the supply of power,
water and skilled labour and proximity to transport infrastructure
in Mineral County and is centred around four existing mineral
deposits: Garnet; Good Hope; Gunmetal and Desert Scheelite, all of
which possess significant skarn-style tungsten-copper-silver-zinc
mineralisation. The Pilot Mountain project consists of 176 active
lode mining claims and 4 filed mill site claims. The four mill site
claims filed at the former Dunham mill site have secure access to
groundwater supply sufficient for the proposed project.
Golconda Summit Project
Golden Metal is the operator of the Golconda Summit project,
which is held under an earn-in right to acquire up to 100 per cent.
of the project from the mineral claim owner pursuant to an option
agreement. The Golconda Summit project is an exploration stage gold
and silver project located in Humboldt County and situated at the
confluence of the Getchell and Battle Mountain - Eureka
metallogenic trends, and consists of 44 lode mining claims,
covering a total area of approximately 3.22 km(2) (795.4 acres)
located approximately 27km east of Winnemucca.
Garfield Project
The Garfield project is an early exploration stage copper, gold
and silver property consisting of 39 lode mining claims covering
3.23 km(2) (797.9 acres) located in Mineral County, Nevada,
approximately 14km due east of the town of Hawthorne and 120km due
west-northwest of Tonopah.
Stonewall Project
The Stonewall project is an exploration stage gold-silver
property prospective for epithermal gold-silver mineralisation. The
property consists of 19 lode mining claims covering 1.59 km(2)
(392.5 acres) located on the northern flank of Stonewall Mountain,
on the western edge of the Nellis Airforce Range Restricted Access
Area, in Nye County, Nevada, approximately 24km south-east of the
historic gold mining town of Goldfield and 60km due south of
Tonopah.
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END
STREAEKSELXDEFA
(END) Dow Jones Newswires
June 05, 2023 06:53 ET (10:53 GMT)
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