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PANTHER METALS PLC
("Panther" or the "Company")
(Incorporated in the Isle of Man with company number 009753V)
18 September 2023
Fulcrum Metals: Drill Planning Update
Panther Metals PLC (LSE:PALM) the company focused on mineral exploration in Canada, is pleased to note the Fulcrum Metals PLC ("Fulcrum", LON: FMET) announcement detailing drilling programme plans for the Big Bear property and the Tully Gold Project in Ontario, Canada.
Panther currently holds a total of 9,971,839 ordinary shares in Fulcrum representing a 19.99% interest in the entire issued share capital of Fulcrum, plus 714,286 warrants exercisable at 17.5p with a two-year life from 14 February 2023 and a further 476,190 warrants exercisable at 26.25p with a three-year life. Panther also retains a 2% net smelter return ("NSR") royalty over the Big Bear property.
Fulcrum have submitted a drill permit application for a drilling programme to test multiple gold targets at Big Bear during 2024. This planned programme will focus within a 3km long gold prospective corridor which contains 4 drill-ready targets and a further 5 targets for follow-up work.
The Tully Gold Project, within the Timmins-Porcupine Gold Camp, has a reported historic total gold resource of 107,000 ounces; with 76,000 ounces at 6.56g/t Au in the Indicated category; and 31,000 ounces at 5.17g/t Au in the Inferred category. Fulcrum report they are in the process of planning a winter confirmatory and infill resource drilling programme of at least 1,500 m.
Further details of the planned targets and the project backgrounds are available in the Fulcrum announcement which is available to view at https://fulcrummetals.com/news/
Darren Hazelwood, Chief Executive Officer, commented:
"Given our equity holding and project history, Panther are pleased to note that Fulcrum have submitted a drilling permit application for a multi-target drill programme at Big Bear during 2024. In the nearer-term the planned winter drilling programme at the Tully Project, which has an existing historic gold resource of over 100,000 ounces, has the potential to bring a material uplift to the value of Fulcrum, especially given the high-grade nature of the historic gold drill intersections that will be confirmed and the open-ended nature of the mineralised body.
We look forward to further updates from Fulcrum."
For further information please contact:
Truly exciting project ....major gold ......exciting times ahead
4 percent now....expect we should break past 5.00-6.00+ this week
Great news
Look at those grades.......
https://www.lse.co.uk/rns/FMET/drilling-update-on-tully-gold-project-big-bear-plsg3g4cf88h3nb.html
792,000 buying pressure building very strong momentum now
Moving up ...mm ready to tick up
Risers now ...climbing up the leaderboard....nice to see
Solid afternoon performance .....can we finish in the top 5 risers at close
Collaborative event next week
637,000...buys coming in ....can we break past 4.00 by 3.30pm and rally to finish the week
Now on the leaderboard
500,000 good buying pressure
Up 11 percent now
Moving up
Majority all buys today
Up 8 percent
Expect we may rally this afternoon....
1] the current market cap is covered by their investments in FMET and PNT [that they themselves are at all time lows even with todays encouraging news] currently valued at £2.6m combined, resulting in PALMS mining assets having no value attributed at all. Yes, even dogs like decades old TYM have their assets valued at £2.5m, PALM, £zero. Add a poxy £2.5m to PALM's mcap and the sp is 6p.
2] Any uplift in FMET or PNT puts an even better foundation to the SP
3] Assets all in Tier 1 jurisdictions removing geo-political risk with very encouraging prospects.
4] Aug 31 CL placing at 4.1p half taken by insiders- a few sellers thinking CL is bad; its not - it avoided going to the market that is unable to raise at reasonable levels and showed BOD and shareholder alignment. But the ask has been loaded to the tune of 5m shares looking at the trades from Aug 31 - I am expecting a large trade to balance all the buys [about 5m ] and I'm guessing its Peel Hunt selling up - they had around 5.5% - figures tally. Currently well bid at 2.82, Someone has bought 3.5% last week and NT for over 300k points to an inflection point for the sp.
PR seems to be on the increase and BOD well respected.
Around 35% directors and /or sticky after Peel's exit.
And the bit I like in the finals:
"Your board is committed to finding ways to add maximum value within the shortest possible timeframe and accordingly is forever on the lookout for opportunities to develop and enhance the project pipeline of the Company." and
with a investor meet on the 19th, will we learn more. about "We have therefore developed the business to a point at which the portfolio may be rapidly commercialised" - from the finals again.
Four tier 1 assets full of goodies valued at £0 and uranium and more with FMET [cashed up, like PALM] points to a unique risk reward opportunity rarely found imo.
Can u explain it in layman's terms? how does the 17% factor in?
Assume the drop yesterday due to peeps reading CLs and mistaking it for death spiral finance - it being quite the opposite. This is how you make money lol
Is there enough sound money out there to play with AIM stocks?
It’s the Canadian assets that holds the true value.
Assay results should be good, CEO seems upbeat on twitter
Mcap is tiny compared to the assets it has
buying before the herds arrives
Game changing Assay report expected by CEO