(Alliance News) - Panthera Resources PLC on Tuesday said its Rajasthan High Court case will be be rescheduled due to a lack of reply from either the Indian or Rajasthan government.
Shares in gold exploration and development firm Panthera were down 24% at 10.45 pence in morning trade.
Panthera filed a writ petition after its prospecting licence for the Bhukia joint venture was rejected and the High Court issued a notice to the Rajasthan regional government and the government of India, as well as an additional order giving one last change to file a reply by June 17, relisted for Monday this week.
No government reply of any kind has been received to date. The writ petition had been listed for Monday but didn't reach the roster before the end of the court session and has thus been rescheduled.
The stay order for the Bhukia venture is still in place, which Panthera said "protects the rights of the joint venture over the entire area of the prospecting licence application".
Panthera Res. (PAT)