Power Metal Resources to Raise Fermi Uranium JV Stake to 45%

05:39 AM EDT, 09/28/2026 (MT Newswires) -- Power Metal Resources (POW.L) will increase its ownership in the Fermi uranium joint venture in Saskatchewan, Canada, to 45% from 30%, according to a Monday release. To secure this larger share, the London-listed metals exploration company will invest 1.9 million pounds sterling to fund the next phase of exploration alongside its private investment partner, UCAM, which will retain 55% ownership. The funds will cover phase 2 drilling at the flagship Perch River Project and a geophysical survey at the Reitenbach property. Power Metal will use its own resources alongside UCAM exercising existing warrants in the exploration company to fund the deal.