Power Metal Resources PLC on Tuesday announced a proposed share consolidation has been approved by shareholders.

The London-based mineral exploration company said the resolution passed with 80% votes cast in favour of the consolidation.

Following this approval, every 20 ordinary shares of 0.1 pence will become a new ordinary share of 2p each.

Shares in Power Metal Resources were up 7.4% to 0.75 pence in London on Tuesday afternoon.

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