10:57 AM EST, 12/12/2025 (MT Newswires) -- Power Metals ( PWRMF ) up 7.5% on last look, said Friday it has sealed a $5 million pre-payment deal for cesium oxide concentrate with NYSE-listed Albermarle. The pre-payment commitment is conditional on Power Metals ( PWRMF ) securing necessary approvals and permits to commence mining at Case Lake, Ontario.

The company will receive $2 million following execution of the pre-payment commitment. The remainder $3 million will be received when Power Metals ( PWRMF ) delivers its Environmental Compliance Approval for the project in 2026.

Winsome Resources is also assigning its Case Lake offtake rights to Albemarle, but will retain its 15.8% equity stake in Power Metals ( PWRMF ), a statement said.

"This agreement is a significant step for Power Metals ( PWRMF ) and a strong outcome for our shareholders. The pre-payment structure provides access to funding without dilution, allowing us to advance Case Lake while preserving the value of the Company. With the Project's extremely low capital requirements, under C$8 million required, this support positions us well to move toward production and unlock the full potential of our cesium opportunity," said board chair Johnathan More.

Power Metal shares are up $0.065, to $0.925 on the TSX Venture Exchange.

Price: 0.92, Change: +0.06, Percent Change: +6.98