Member Info for Edhellas

"In India, emphasis will continue to be placed on attaining a prospecting licence for the Bhukia Gold Project, an established gold resource and the Company’s primary asset. Once acquired, the extensive amount of exploration already completed will be leveraged and further drilling is expected to define a substantial JORC-compliant resource base and allow the completion of a bankable feasibility study.

In West Africa, the Group now has the opportunity to re-prioritise its activities following the successful addition of the Labola property in southern Burkina Faso to its already exciting portfolio of properties. Expanding Labola’s previously defined resource will become one of the Company’s priority activities, which compliments recent drill success achieved at Naton and the definition of multiple exciting targets elsewhere in West Africa. The first RC drilling program at Naton achieved excellent results with ore grade intersections encountered at 4 of the 5 structures tested, and further drilling is clearly required. Whilst in southern Mali high-quality drill-ready targets have also been defined at Bassala and Kalaka, the Company intends to continue exploring these areas and define a JORC compliant resource"

A BFS on india will be huge if we get our license. Also WA looking good.

What is the filing number / CNR of the case please?

Cascades:

"Ultimately we believe Cascades will be a multi million ounce deposit" - Mark Bolton in Proactive Investors interview. 16th February 2023. https://youtu.be/F6AyA4L_49w

"We believe by Q4 2023 we should have visibility on whether >2m oz is plausible on any reasonable timeframe." -Allenby Capital (17th February 2023) - https://www.allenbycapital.com/client/panthera-resources-plc/

We should get an updated mineral resource for Cascades/Labola in the coming months. I hope they comment on the feasibility of reaching 2moz+ in the next 2-3 years.

@NTBD this General Meeting seems to only be for the right to allot shares, unlikely to contain any news. We had a similar General Meeting in Jan 2019.

Tomorrow for the general meeting. I don't think they'll announce LCM funding at the meeting though, that'll be sometime in the next week imo.

I understand taking some profits but I find it an odd time to do so, only 2 days until the GM, and the LCM DD is due any day now.

Thanks for the response Prof, much appreciated!

Https://twitter.com/lhowie3/status/1632021126636347392?t=saDmNl7xAzzXt5R8EMNhjA&s=19

Retweeted by Panthera recently:

"Now on the cusp of getting an award of a 7.5m oz Gold Project.

The GoR relies on 3 weak arguments that have been repeatedly raised & previously rebuffed by Multiple tribunals, committees & courts of India.

$10.5m now secured to settle resolution

ReRate Inbound"

A few pics from Kalaka. I'm not particularly interested in the less developed projects now that India and Cascades are so well positioned. Good to have such a diverse portfolio of potential projects nonetheless.

I remembered an old email I had from Panthera, 4th March 2022, which has changed my mind about the order of expected news:

"Thank you for your email.

As you may appreciate, a new partner has little relevance unless the grant of the Bhukia licence can be resolved. It is my opinion that the licence impasse can be resolved and accordingly it remains the focus for the Company. Until this is the case, it would be improper for me to speculate on the possible future actions, positive or otherwise, by the GoI.

Concurrent with these efforts Fasken has been working on our BIT claim should our efforts in India prove fruitless. The recent Cairn settlement bolsters our view that a BIT claim has material value for Panthera shareholders.

Kind regards

Mark Bolton

Managing Director

Panthera Resources Plc"

If a new partner has little relevance in Mark's opinion (without the license), then this 'Major Update' does seem more likely to be a deal with the government of India rather than a JV partner. Again it's just speculation and I may be reading too much into his wording.

This is taken from the previous annual GM last year:

"Resolution 5 – Directors’ Authority to Allot Shares

This is an ordinary resolution to grant the Directors the authority to allot and issue shares and

grant rights to subscribe for shares in the Company for the purposes of Section 551 of the

Companies Act 2006 (the “Act”) up to the maximum aggregate nominal amount of £400,000,

representing approximately 30.6 per cent of the Company’s current issued share capital. This

Resolution replaces any existing authorities to issue shares in the Company and the authority

under this Resolution will expire at the conclusion of the next annual general meeting of the

Company.

Resolution 6 – Disapplication of Pre-emption Rights

Resolution 6 proposes to dis-apply the statutory rights of pre-emption in respect of the

allotment of equity securities for cash under Section 561(1) of the Act. This is a special

resolution authorising the Directors to issue equity securities as continuing authority up to an

aggregate nominal amount of £400,000, representing approximately 30.6 per cent. of the

Company’s current issued share capital, for cash on a non-pre-emptive basis pursuant to the

authority conferred by Resolution 5 above. The authority granted by this Resolution will expire

at the conclusion of the next annual general meeting of the Company"

The raise in May is different to the raise in the AGM, this is the only reasoning we have:

"The Board recommends that Shareholders approve a 26.2% disapplication of pre-emption rights at the coming GM, in order to provide your Board with the flexibility to quickly and efficiently raise any further funds that might be necessary."

We might need funds to push some more activity in West Africa but I believe it's to help us secure a JV partner and facilitate talks with the government. Purely speculative on my part.

I think it's AGM to raise funds first, which may be required to help us get this JV partner without losing too much of our share in Bhukia.

LCM litigation funding will follow, then the JV partner will be announced in the coming months.

I'm happy to to proved wrong if things move faster though.

9p paid a couple of times today

Yes it's 26%:

"This is an ordinary resolution to grant the Directors the authority to allot and issue shares and grant rights to subscribe for shares in the Company for the purposes of Section 551 of the Companies Act 2006 (the “Act”) up to the maximum aggregate nominal amount of £400,000, representing approximately 26.2 per cent of the Company’s current issued share capital. This Resolution replaces any existing authorities to issue shares in the Company (to the extent not already utilised) and the authority under this Resolution will expire at the conclusion of the next annual general meeting of the Company. "

In the RNS announcement it mentions they wish to allot new shares, and specifies it's up to £400,000 if I remember correctly.

We should hear from LCM by the end of next week, and that "major update" from the interview won't be far behind. Hopefully the profit taking is delayed until after that news.

I don't like to ramp but I'd suggest everybody hold as much as they can. The fewer shares up for grabs, the faster the share price will climb if we get the good news we're hoping for.

They finally went through (almost all orders), 91255 shares at 6.9p I just wish these went through back at 4.1p! I started buying at the very top of the share price, 37p each, 31k shares.

Now I've got 282k shares, average price 10.4p. Still in the red but there's hope now. If India goes well, can definitely get back in the green.

I've got 14x orders of £500 on Trading 212 that just aren't going through. Been trying to buy since they were 4.1p!

I've got a £6600 order up on trading 212 but it's been there for days now (market price), nobody biting.

Has anybody bought shares via trading 212 recently?

Can't seem to get my hands on any, but also don't want to wait 2-4 weeks to transfer to my other provider...