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Pin to quick picksPanthera Res. Share News (PAT)

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Panthera Resources takes option to purchase 'promising' Labola Project

Thu, 30th May 2019 10:54

(Sharecast News) - India and West Africa-focussed gold exploration and development company Panthera Resources has decided to move to a full option-to-purchase agreement following its successful due diligence investigation of the Labola Project in Burkina Faso, West Africa, it announced on Thursday.The AIM-traded firm said it had informed the vendor of its decision to proceed, and made the initial option fee payment of $50,000.It said the agreement allowed it up to five years to explore and develop the project, and it could obtain a 100% interest in the project by payment of $1m to the vendor at any time within that five-year period.An additional payment of $1m would become due if a JORC-compliant resource exceeding one million ounces of contained gold was defined, with a 1% net smelter royalty capped at $2m payable from production.The board said the Labola gold project consisted of a package of approximately 65 square kilometres of licences that hosted two significant quartz vein structures, which had been mined artisanally over at least a nine kilometre strike.It said it was the first time the package of properties had been consolidated under one ownership, with it representing an "excellent opportunity" to integrate the significant amount of previous drilling and optimise the resource potential of the project.Previous explorers had announced combined JORC and 43-101 compliant resources of more than 600,000 ounces, averaging approximately 1.2 grams per tonne of gold.Panthera said it had undertaken an extensive review of those resources, and believed that with limited additional exploration work there was a "high probability" of being able to upgrade them again to JORC compliance.It said there was "significant" potential for higher-grade mineralisation based on previous drill results, including two metres at 130.6 grams per tonne of gold from 66 metres, 11m at 8.2 grams per tonne of gold from 147 metres, and 6.5m at 7.26 grams per tonne of gold from 318 metres."This is an exciting addition to Panthera's West African gold portfolio with drill defined mineralisation identified over at least seven kilometres of the known nine kilometre strike, and previously identified resource estimates of approximately 600,000 ounces of contained gold," said Panthera Resources managing director Geoff Stanley."The company is well advanced with planning programs to confirm previous resources and define extensions to those resources."The large strike extent of artisanal workings and the significant amount of previous drilling has provided abundant targets for initial exploration work and significantly de-risks the project."
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2 Apr 2024 13:24

IN BRIEF: Panthera Resources issues notice of dispute in India

Panthera Resources PLC - gold exploration company with assets in India and West Africa - Updates on dispute with the Republic of India. Explains this relates to the latter's breaches of its obligations under the 1999 agreement between the government of Australia and the government of India on the promotion and protection of investments. On January 2, says its Australian subsidiary, Indo Gold Pty Ltd formally issued a notice of dispute to India in relation to the Bhukia project. Should attempts to reach an amicable settlement fail IGPL says it will promptly deliver a notice of arbitration to the government of India.

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9 Feb 2024 12:32

Panthera shares rise as Moydow exercises Wuo Land 2 option

(Sharecast News) - West Africa and India-focussed gold explorer and developer Panthera Resources announced on Friday that Moydow Holdings has chosen to exercise its exclusive option to acquire the Wuo Land 2 exploration licence, a part of the Cascades Project in Burkina Faso.

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9 Feb 2024 10:31

IN BRIEF: Panthera says Moydow to buy Wuo Land 2 exploration licence

Panthera Resources PLC - gold exploration company with assets in India and West Africa - Says Moydow Holdings Ltd will buy the Wuo Land 2 exploration licence that comprises part of the Cascades project in Burkina Faso. The option over Wuo land 2 is over 243 quare kilometres and covers approximately 30km strike length of identified mineralization at Cascades

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2 Jan 2024 11:48

Panthera subsidiary notifies Indian government over Bhukia dispute

(Alliance News) - Panthera Resources PLC on Tuesday confirmed that its Australian subsidiary had commenced litigation against the Republic of India.

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29 Dec 2023 13:11

Panthera Resources first-half losses narrow

(Sharecast News) - Gold explorer and developer Panthera Resources reported a total first-half loss of $1.01m, or one cent per share, on Friday, narrowing from the prior year's loss of $1.48m.

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29 Dec 2023 12:45

London close: Stocks mixed after short New Year session

(Sharecast News) - London markets had a mixed performance in a shortened pre-holiday trading session on Friday.

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29 Dec 2023 10:53

Panthera interim loss narrows on lower costs; to focus on India claim

(Alliance News) - Panthera Resources PLC on Friday said its interim loss narrowed as exploration costs stopped.

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29 Dec 2023 07:47

LONDON BRIEFING: FTSE 100 to edge higher, rounding off lacklustre year

(Alliance News) - Stocks in London are expected to edge higher on Friday, as investors reflect on an eventful year and look ahead to what's in store for 2024.

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18 Dec 2023 19:40

IN BRIEF: Panthera Resources raises GBP150,000 via subscription

Panthera Resources PLC - gold exploration and development company - Raises GBP150,000 by way of a subscription of a total of 3.0 million shares at 5 pence each. Intends that the net proceeds of the will be deployed towards the activities in India and West Africa and meeting the company's working capital commitments.

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6 Dec 2023 12:17

Panthera raises GBP745,000 for activity in India and west Africa

(Alliance News) - Panthera Resources PLC on Wednesday announced that it will issue new shares to finance its activity in India and west Africa.

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22 Nov 2023 15:53

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9 Nov 2023 13:47

EARNINGS AND TRADING: MetalNRG hails Gold Ridge findings

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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9 Oct 2023 15:14

Panthera upbeat on assay results from Kalaka drilling

(Sharecast News) - Gold explorer and developer Panthera Resources announced assay results from its recent drilling programme at the Kalaka Project in Mali on Monday.

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9 Oct 2023 11:54

IN BRIEF: Panthera assay finds "significant mineralisation" at Kalaka

Panthera Resources PLC - gold explorer and developer with assets in India and West Africa - Announces assay results from recent drilling programme at the Kalaka project in southeastern Mali. Company is the project's operator and owns a 40% interest, as does DFR Gold Inc. Says significant mineralisation was intersected at the K1A prospect, comparable to historical drilling. Completed eight reverse circulation drill holes for 705 metres advance at K1A. Panthera says assay results include 76 metres at 0.53 grams of gold per tonne in hole KRC_23_005 and 85 metres at 0.52 grams in KRC_23_007. Drilling was however interrupted due to heavy rain, meaning that proposed northern exploration holes currently remain untested.

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