Power Minerals Secures AU$1 million Funding for Project Advancements

Power Minerals Limited (ASX: PNN) has secured a AU$1 million funding facility from its managing director, Mr Mena Habib, to bolster near-term project advancements and working capital needs. The loan, unsecured and lasting six months, will complement Power's existing funds and support ongoing exploration and development plans.

Additionally, the company anticipates significant capital inflows, including AUD$1.5 million from the sale of the non-core Santa Ines Copper-Gold Project to Fuyang Mingjin Development Co., Ltd, and US$1 million from the second tranche of a strategic investment by Summit Nanotech Corporation for the Incahuasi salar at Power's Salta Lithium Project in Argentina. Interest at 5% per annum will be capitalized and payable at the loan term's end.

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