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Another good day today. As predicted a few days ago on this thread - the signing was days away and woukd trigger a rerate. This will allow II's to take a nibble with potentially TR1's to follow.

Altona (REE) along with Panther metals (Palm) are going to be multi multi baggers , with Fulcrum a close third.

REE and Panther Metals could surpass GGPs amazing tradgectory rise a few years back, dont sell and regret it here for peanuts , the bigger prize will come to those with a bit of patience.

Continued from last post .......

The CSE Listing: The "Liquidity Bridge"

The London market often struggles to value Canadian assets correctly. The filing for a Canadian Securities Exchange (CSE) listing in February 2026 fixes this.

Flow-Through Funding: This allows Panther to access Canadian tax-incentivized capital, meaning exploration can be funded with minimal dilution to UK shareholders.

The Audience: It puts PALM in front of North American investors who trade these types of assets at significantly higher multiples.

The Bottom Line -

Any one of these projects—Winston, Wishbone, or Dotted Lake—could be a mahoooosive company-maker. Combined, they represent a risk-reward profile rarely seen at this minute market cap. With the Traxys partnership de-risking the path to production and a major drill program about to bite (with rumours of a JV to follow), the window to buy at these levels is closing.

DYOR - This is a coiled multi metal spring in a Tier-1 jurisdiction.

The Big Black Cat is about to pounce - Sorry I got carried away there 🤣🤣🤣🇨🇦🇨🇦🇨🇦

#thenextggpx3

Investors, particularly Private Investors (which we are) are always looking for the "next big thing" in the junior mining sector. With Panther Metals (PALM), we aren't just looking at one "lottery ticket" project, I think we are looking at a diversified powerhouse with five distinct catalysts—each of which has the scale to transform this micro-cap into a mid-tier major.

Following a relatively small fundraise in February 2026, the company is cashed up and moving at lightning speed Here is why the current valuation is a massive disconnect from the reality on the ground - in my opionion.

1. Winston Tailings: The Traxys "Seal of Approval" those big boys don't get involved and although just officially linked with yhe tailings - they will have first mover advatage on the Magnesium play at Dotted.

The partnership with Traxys is arguably the most significant de-risking event in the company’s history. Traxys is a $10bn+ revenue global commodity giant. They don't partner with "lifestyle" explorers.

The Play: Reprocessing historic high-grade tailings (Gold, Silver, Zinc, Gallium) at Winston Lake.

The Catalyst: SRK is currently finalizing a maiden Mineral Resource Estimate.

Why it’s Bullish: This is a low-CAPEX, rapid-revenue model. Traxys brings the commercial muscle for offtake and structured finance. This isn't years away; this is a near-term cash flow engine that could fund all other exploration internally. The major infastucture at the tailings is already in place (electric, water, roads, security fencing etc - just needs a processing plant and it is up and running. To process the Hundreds of Millions if metal in place. Testing just now, MRE to follow April 26.

2. Wishbone VMS: The "Greatland Gold" Potential

If you want a "company maker," look at Wishbone. Located in the Obonga Greenstone Belt, this is a district-scale VMS (Volcanogenic Massive Sulphide) play.

The Evidence: Previous drilling hit 51m of sulphide-dominated mineralisation. Recent 3D inversion modelling has identified a massive copper-in-lake-sediment anomaly.

The Catalyst: A 2,000m diamond drilling program is launching in Q1 2026.

The Upside: VMS deposits usually occur in clusters. If Panther hits the core of the lens this quarter, the re-rating will be violent. This is pure discovery upside. Watch out for a potential JV here at some stage.

3. Dotted Lake: Sitting in the Shadow of a Giant

Location is everything. Dotted Lake is situated just 16km from Barrick Gold’s Hemlo Mine (which has produced >21moz Gold).

The Critical Mineral Edge: Beyond gold, Panther is now targeting Magnesium. In February 2026, the company initiated metallurgical testwork for high-purity magnesium recovery.

Strategic Value: With the global shift toward lightweight alloys and green tech, a domestic Canadian magnesium source is a mahooooosive strategic asset. Add in the Nickel, Cobalt, and PGE potential across a 20km intrusive body, and you have a polymetallic beast. To be continued next post

Still a few weeks left before the CSE listing , so wondering if they’ve got a real marketing blitz ready or if they’re just going to let the Winston MRE, Wishbone and Dotted Lake results do the talking.

Are the Institutional Investors (IIs) already lined up, making PR unnecessary?

Or (you heard iy here first) is the plan to drop a massive Joint Venture announcement after the PDAC meetings (Sunday–Wednesday) with Darren Hazelwood and Nick having meetings confirmed with "Various Stakeholders" It’d be the perfect time to catch everyone's attention while all the big stakeholders are in Toronto." -

Just for fun - Book open on a partnership or JV for Wishbone drilling within a fortnight - starting with a 1-3 odds on.

#wishboneisthenexthavieronafteraJV

Drone magnetic surveys are a massive game-changer, and this RNS proves we are looking at the next evolution of discovery. By flying lower and tighter than any traditional plane, these drones deliver millimeter-level resolution that uncovers targets previously hidden under deep cover.

We’ve seen exactly how this plays out with Greatland Gold (GGP). Their use of advancedgeophysics to pinpoint the Havieron discovery—now a world-class 8.4Moz gold-equivalent asset—transformed a "bland" magnetic area into a tier-one powerhouse. Other giants like BHP and Canada Nickel have also leveraged this high-spec tech to identify massive anomalies and the world’s second-largest nickel deposits where others saw nothing. This isn't just a survey; it’s the ultimate de-risking tool for finding the next multi-million ounce mahoooosive deposit.

#thenextggpdrillbabydrill

Drone magnetic surveys are a massive game-changer, and this RNS proves we are looking at the next evolution of discovery. By flying lower and tighter than any traditional plane, these drones deliver millimeter-level resolution that uncovers targets previously hidden under deep cover.

We’ve seen exactly how this plays out with Greatland Gold (GGP). Their use of advancedgeophysics to pinpoint the Havieron discovery—now a world-class 8.4Moz gold-equivalent asset—transformed a "bland" magnetic area into a tier-one powerhouse. Other giants like BHP and Canada Nickel have also leveraged this high-spec tech to identify massive anomalies and the world’s second-largest nickel deposits where others saw nothing. This isn't just a survey; it’s the ultimate de-risking tool for finding the next multi-million ounce mahoooosive deposit.

#thenextggpdrillbabydrill

Well, a slightly shorter hiatus than anticipated 😊.

Great RNS and update from Darren and the Panther Team this morning, for me, this is all about the massive scale and potential atnWishbone. The RNSnhighlights a significant, district-scale VMS system with massive sulphide intercepts exceeding 27 meters within the Obonga Greenstone Belt. With high-grade historical assays, extensive permits secured through 2027, and five key targets identified, the project is positioned for a major, multi-target drilling campaign. If the drill bit hits the Payload then then its a gamechanger.

Apart from a second proof reading 🤣, the RNS is just what is needed.

#thenextggp

#drillbabydrill

With this forum being deserted, I will be going quiet on this board for a whole or until the next RNS - the pipeline for the next 60 days looks massive but with no posters or debate here it feels wrong and nearly like I am ramping - which is not my thing, so will take a breather for a while. I am still heavily invested and adding, with a medium-term target of £100m+ market cap.

If Wishbone or Dotted Lake hit, this could eclipse the early GGP days. Unlike GGP, which had to give up most of Havieron to Newcrest for funding, Panther is in a position of strength. Between the Winston Tailings project cash flow and the Traxys LOI, the company has the financial leverage to keep the lion's share of its discoveries."

Will be back posting when we have Company news or when the herds arrive as they surely will.

#thenextggpand thensome.

Taken from another Chat Furum suggesting Panther metals could apply for US funding for Dotted lake Magnesium and possibly for Winston if Gallium is recoverable in the tailings ...

"Panther ($PALM) are eligible for USTDA funding and could also be eligible for US Department of Defense (DoD) funding for the Dotted Lake Magnesium project and the Winston Tailings build.

The Criteria - Under the Defense Production Act, the US treats us in Canada the same as themselves - as a "domestic source." - how good is that for future Canadian investors. This allows projects here in Ontario to access massive US grants via the US-Canada Joint Action Plan to secure critical mineral supply chains.

The Potential: Non-dilutive, DoD grants typically range from $5M to $20M+ USD. USTDA funding up to a few million USD.

The Precedents:

Fortune Minerals: Secured $6.4M from the DoD.

Lomiko Metals: Awarded $8.3M.

Fireweed Metals: Recently bagged $15.8M.

With Panther now starting metallurgical testwork at Dotted Lake, they are hitting the exact milestone where the DoD typically steps in to fund development. Mahoosive potential for a "Uncle Sam" backed rerating if the chemistry stacks up. 🇺🇸🇨🇦"

"Thy need to expidite the 🇨🇦 listing application if at all possible"

Not fact checked by myself but looks legit'.

Took another 3 456 nibble but still below TR1 level - for now.

#thenextggp

Big tick up will be from 5 to 10p as Funds get the goahead to buy in.

It does look like some buying in the background and expect some delayed buys to show up later.

Like GGP, many will sell at 5p, 10p, 20p etc rather than waiting for the real prize.

I fully expect the Company to trigger the 25-day acceleration clause next month - to force all warrant holders to convert. While some see warrant conversions as a hurdle, in this specific case, it’s exactly what the doctor ordered for the next leg up.

Creating Liquidity - To get the big Institutions on board, you need a liquid market. Forcing the conversion flushes those shares into the system, creating the volume required for larger funds to build meaningful positions.

Cleaning the Cap Table - It removes the "overhang" and strengthens the balance sheet.

Institutional Buy-in - As the USTDA grant lands and the DoD interest ramps up, these converted shares provide the entry point for institutional money that has been waiting on the sidelines for enough "float" to trade.

Moving the warrants now clears the path for a much cleaner, more aggressive run toward that 50p+ target. The pieces are falling into place!

The wait is nearly over. Following the confirmation of US Government support on 9 February, the formal signing of the USTDA grant is officially "imminent" (yesyerdays RNS) . This isn't just about the cash; it’s the ultimate "seal of approval" that clears the way for major institutions to finally buy into Altona Rare Earths (REE). But they need to wait till the signature officially happens before they can dive in.

Why this is a game-changer:

Institutional Inflow - Many funds can't touch sub-£10m caps without this kind of sovereign backing. Once signed, expect the shareholder register to transform.

The 5p Target: We’ve seen the shares jump 60% on just the intent to support. With the OTCQB listing application now live to capture US investor interest, moving towards the 5p mark (and beyond) looks like a very realistic short-term trajectory, 50p would be a longer term target.

DoD & Infrastructure: We are now firmly on the radar of the U.S. Department of Defense (DoD). They are increasingly issuing massive grants to secure critical mineral supply chains outside of China. Monte Muambe is perfectly positioned for this, with its rare earths, fluorspar, and high-grade gallium.

Asset Valuation: People are sleeping on the true value here. The scoping study for the rare earth component alone showed an NPV of £283 million (at an 8% discount rate). When you add in a standalone fluorspar mine and the "by-product" value of gallium—both essential for defence and tech—each of these asset streams could easily be worth hundreds of millions as they move toward production.

The market cap is still tiny compared to the strategic importance of what we hold in Mozambique. Once that grant signature drops, the "imminent" tag disappears and the real rerating begins.

This is going to get exciting.

"The signature of the grant agreement is expected to be imminent"

II's will need this signing before any Fund Manager can take a position here. Imminent usually means within days or a week or so at the most. Expect large buying when this is all signed and official and II' possibly take their position.

The SP is primed to continue its climb as we head toward the US dual listing. The recent USTDA support provides a "US Government seal of approval" that fundamentally de-risks the Monte Muambe project, while clearing the warrant overhang removes the technical sell-pressure that has historically capped the price. As these cheap warrants areconverted, the path is cleared for a significant re-rating driven by genuine institutional demand rather than speculative paper.

Furthermore, the "US Multiplier" effect is a massive catalyst; North American investors typically value critical minerals plays much higher than the LSE. With the company now fully funded for its scoping studies thanks to today’s exercise, we are looking at a perfect stormof heavy newsflow and massive new liquidity. For a company with official US backing entering the world’s largest capital market, the current momentum feels like just the beginning

Expect Altona to push for full warrant conversion before the US listing goes live. It makes the company far more 'investible' for US institutions by removing the price overhang. We’ve had one week above the 2.5p threshold; if we get another four, the company can pull the trigger on forced conversions. It’s a smart move to de-risk the finances and create a cleaner entry point for new North American capital."

This should be hitting 8p before the yanks step in.

Vet, unless we get an Tailings operational update or news regarding drilling mobilisation to Wishbone - the newsflow will be April. This may create buying windows before investors take a position. The £1 may take a couple of goes to break through - but so will £10 and then £50 if all goes to plan.

#thenextggpx3

The grant could actually dwarf the Market Cap. Grants are usually "between 5 and 20 million US Dollars".

Totally derisked when the signature is confirmed.

For the institutional heavyweights, it’s all about the dotted line. While the RNS confirms the USTDA commitment, most institutions have strict "de-risking" mandates—they can’t pull the trigger until the grant is officially signed and sealed - we can 😉

This creates a massive window of opportunity for us. Once that signature hits, the project is officially "government-backed," moving it from a speculative play to a strategic asset. That is the green light for the big funds to flood in and the debt funding to be finalised.

The institutions have to wait for the paperwork—we don't. Once that signature is announced, the entry price will be a thing of the past!

That morning RNS is a massive signal! The USTDA backing the PFS is a total game-changer for $REE.

With the US government likely covering 50% of the project costs, the remainder is now a prime candidate for debt funding. This means the "dilution" talk is dead—we are moving straight to non-dilutive financing.

This grant effectively fast-tracks Monte Muambe. The move to the US OTCQB is no coincidence; it's almost certainly a request from a major US investor or JV partner who wants to fund the rest. Once the American market gets a taste of this, there won't be enough stock to go around.

The sleeping giant is awake and heading for a massive re-rate over the next week.

Bottom Line - Even with a $2B build, a $3B annual EBITDA means the plant pays for itself in less than a year. This is the definition of a Tier-1 magoosive operation.

Guys, if anyone actually reads this which is unlikly - those numbers are just my workings, not verified and there are a lot of unknowns and missing info that would enable them to be nailed down further.

But exciting stuff happening at Dotted Lake - that said - Wishbone could be as transformational. But lets crack the tailings first which is the key to inlocking Wishbone and Dotted Lake.