Panthera Resources (PAT)

Sector:

Mining

Index:

FTSE AIM All-Share

 10.75p
   
  • Change Today:
      0.000p
  • 52 Week High: 37.00
  • 52 Week Low: 6.00
  • Currency: UK Pounds
  • Shares Issued: 90.88m
  • Volume: 112,925
  • Market Cap: £9.77m
  • RiskGrade: 725
  • Beta: 0.01

Panthera inks deal for $18m funding on Labola Project

By Josh White

Date: Wednesday 25 Aug 2021

LONDON (ShareCast) - (Sharecast News) - West Africa and India-focussed gold exploration and development company Panthera has entered into definitive agreements to restructure its ownership interests in Moydow, and underlying assets, which would provide funding of up to $18m to the Labola Project.
The AIM-traded firm said the $18m farm-out agreement was secured on Labola Project with Diamond Fields Resources, with the Kalaka and Nigeria projects set to be spun out from Moydow into a new entity, dubbed 'Maniger'.

Panthera would secure a 50% interest and operatorship of Maniger, with the translation described by the company's board as one that would "minimise dilution" to its wider asset portfolio.

"Panthera continues to focus on both progressing its projects whilst also managing its own - and its investors' - financial and risk exposure to those assets," said managing director Mark Bolton.

"Since partnering with Moydow last year, the Labola Project has progressed rapidly, and we remain enthusiastic about its outlook.

"The proposed transaction with Diamond Fields provides significant finance to progress the Labola Project to the next stage, primarily the bankable feasibility study."

Bolton said Panthera's "significant ongoing interest" in Labola of up to 30% would ensure that the company would benefit from any success, while not diluting shareholders' exposure to its other assets including Bassala, Bido and India.

"The 'spin-out' of the Kalaka and Nigeria projects preserves our interest independent of Labola.

"In summary, the transaction secures significant multi-year financing for Labola, ameliorates potential concentration of risk and maximises shareholder exposure to the growth opportunity from our wider asset portfolio."

At 1345 BST, shares in Panthera Resources were up 4.91% at 13.9p.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

PAT Market Data

Currency UK Pounds
Share Price 10.75p
Change Today 0.000p
% Change 0.00 %
52 Week High 37.00
52 Week Low 6.00
Volume 112,925
Shares Issued 90.88m
Market Cap £9.77m
Beta 0.01
RiskGrade 725

PAT Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
29.61% below the market average29.61% below the market average29.61% below the market average29.61% below the market average29.61% below the market average
21.05% below the sector average21.05% below the sector average21.05% below the sector average21.05% below the sector average21.05% below the sector average
Price Trend
1.37% below the market average1.37% below the market average1.37% below the market average1.37% below the market average1.37% below the market average
5.34% above the sector average5.34% above the sector average5.34% above the sector average5.34% above the sector average5.34% above the sector average
Income Not Available
Growth Not Available

PAT Dividends

No dividends found

Trades for 15-Oct-2021

Time Volume / Share Price
14:23 68,725 @ 10.90p
10:40 39,000 @ 10.56p
09:01 200 @ 11.00p
08:15 5,000 @ 10.55p

PAT Key Personnel

COO Antony Truelove
CFO Mark Cranny

Top of Page