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LONDON (Alliance News) - Gold firm Panthera Resources PLC on Wednesday said a payment owed to it has been delayed, but should be received shortly.
Panthera shares were 9.0% lower on Wednesday at a price of 8.65 pence each.
Panthera got the first USD250,000 payment in February after Galaxy agreed to take 10% in a Panthera subsidiary for USD1.3 million.
The delayed payment is the second tranche, worth another USD250,000, and had been due by the end of March. However, it has been held up due to administrative issues relating to India's financial year and its recent election.
Panthera said Galaxy has reassured it the payment will be made by the end of May.
