SI Capital: Broker Note 17 June 2020

Regulatory Disclaimers and Disclosures

The SI Capital recommendation structure is based on relative upside/downside to target price. The target price is set on a rolling 12 month view. Upside or downside of 10% or more is categorised as Buy or Sell respectively, and less than 10% a Hold. Our Distribution of Recommendation statistics table can be viewed at

We aim to cover company’s results or major events, but we do not guarantee to do so and coverage may cease at any time.

Although reasonable care has been taken SI Capital plc to ensure the facts stated and opinions given and projections made in this document are fair and accurate, SI Capital Limited has not independently verified all the information given in this document.

The contents of this document have been prepared by, and are the sole responsibility of and have been issued by SI Capital Plc for the purpose of section 21 of the Financial Services and Markets Act 2000 and is intended only for investors who are professional clients and eligible counterparties as defined by the FCA, and may not be distributed to retail clients as defined by FCA. In the event that any such person should come into possession of this document, it is recommended that they should seek independent advice from a suitably qualified professional advisor before taking any decisions in relation to the investments detailed herein. The investments mentioned in this document may not be suitable for all recipients or be appropriate for their personal circumstances. The information in this document is believed to be correct but cannot be guaranteed. Opinions constitute our judgement as of this date and are subject to change without warning. The views expressed in this report accurately reflect the personal views of the author as at the date of the report. The author did not receive compensation or other payments in connection with the specific recommendations or views expressed herein. This document is not intended as an offer or solicitation to buy or sell securities. Si Capital, its officers and employees may have positions in the securities mentioned herein. Past performance is not necessarily indicative of future performance and the value of investments may fall as well as rise and the income from them may fluctuate and is not guaranteed. Clients may not recover the amount invested. Some securities carry a higher degree of risk than others. The levels and basis of taxation can change. When we comment on AIM or ISDX Markets shares you should be aware that because the rules for these markets are less demanding than those of the Official List of the London Stock Exchange the risks are higher. There is a higher risk of losing the money you have invested. Furthermore, the marketability of these shares is often restricted, you may have difficulty in selling your shares and there is often a big difference between the buying and selling price so that if you have to sell them immediately after purchase you may get back much less than you paid for them. If you are in any doubt, you should consult your investment advisor.

Owing to its size and structure and analysts’ involvement with existing and prospective clients, SI Capital does not hold its research out as being impartial. As non-independent research, it is classified as a marketing communication under FCA rules and has not been prepared in accordance with the legal requirements designed to promote the independence of investment research; and it is not subject to any prohibition on dealing ahead of the dissemination of investment research.

SI Capital may actually or may seek to do business with companies covered in its research reports. The firm’s policy on managing actual or potential conflicts of interest and other relevant disclosures can be viewed at

Si Capital may distribute research in reliance on Rule 15a-6(a)(2) of the Securities and Exchange Act 1934 to persons that are major US Institutional investors, however, transactions in any securities must be effected through a US registered broker-dealer. Any failure to comply with this restriction may constitute a violation of the relevant country’s laws for which SI Capital Plc does not accept responsibility.

Surrey office: 46 Bridge Street, Godalming Surrey, GU 71HL.

Read the report by SI Capital, 17 June 2020


Power Metal Resources plc
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United Kingdom