Member Info for Edhellas

http://www.allenbycapital.com/research/research-pat.html

Upgraded to 33p.

We are running low on cash now though, if India is going to happen we need it to happen fast before shares get diluted.

Modi trying to get foreign investment in India is good news, something MB also brought up in the recent interview.

I had written India off earlier this year but if Cairn get their billion, there's hope for us. Mark's comment on the India team still working round the clock and his confidence in reaching an agreement are reassuring.

Yep I listened to it, will likely do so a few more times to cement it all.

I bought in at 33p and averaged down to 27p, so for me the current share price is a disappointment and I don't see it recovering to those levels for a good while.

That said I'm not selling a single share, still confident that 27p will be peanuts in the long term.

I won't be buying anymore though, as I've missed many opportunities while holding PAT and I need to diversify. ~75k shares has enough upside to be life changing if we get one of several mines open, and I need to de-risk now as almost everything I have is in PAT.

Tech stocks are my bread and butter and I think I'll head back to them to recover my paper losses from PAT. Still frequenting this board though.

Haven't watched it yet, but for those who haven't seen it:

https://twitter.com/i/broadcasts/1BRJjnbrPMvJw

Very disappointing results. PAT indicated results around 1moz+ previously, and we were told the MRE would be up 6+ months ago.

To wait all this extra time for 700k is a wash imo. Open pit is good, but a 20% stake in that is peanuts. How much value does this realistically add to the SP? Maybe worth 5p if the funding deal with DFR goes through. Let us hope for better Bassala/Kalaka results.

Cora has a 1-2moz mine in their hands which is currently more developed than Labola, $25m of funding, higher % ownership, and a mcap of £33m.

Doesn't inspire me with confidence that the mcap is so low, PAT was briefly trading above that last year just because of Bhukia. We're at 40% ownership of a similar sized resource, potentially down to 20/30% soon. Let us hope for an amazing MRE this year and solidified funding from DFR next year.

If positive results could lift our support level from 10p to 15-20p that'd do me for the short term I suppose.

I'm down 60% so far having discovered the stock around the Bhukia hype. I'd like to keep adding to average down but can't afford to.

Cairne asked for 5.5 billion and were awarded 1.2 billion.

I see India as a long shot still and not something to count on anytime soon, but a positive result for a 6.7m oz mine would lead to a gigantic dividend.

Think PAT will be fine in the coming months, the gold price might affect us somewhat but we're not attached at the hip to the broader market, good/bad results will lead to big swings.

Looking at ggp, less than 2p precovid and trading from 18-36p since then thanks to their positive news flow. When gold prices dropped 25% last March, ggp still kept climbing. If we get similar results we have a good chance of beating the market too.

More positive results today. I think the trades will come after the MRE is out and we've got the DFR deal under wraps. Gonna take a little while but it's worth waiting for.

https://twitter.com/PantheraPlc/status/1437209865181548546?s=19

I'm not betting on any particular SP short term, but that tweet seems indicative of good results imo. Get Labola up and running asap so it can finance Bassala!

After the results from Bassala are in, I would like to ask Mr Bolton what the plans are. We know we'll be going back with an RC or diamond drill to get deeper results, but then what?

After that I'd prefer if we start looking at feasibility studies instead of trying to further prove up the resource to be honest. A lot of junior mining companies spend years drilling to prove up the resource and run out of money or time, never digging anything up. I hope PAT are smart enough to get one of the PAT-owned projects turned into a mine, so it can finance the rest of the projects. Don't want to end up issuing hundreds of millions of shares in the next few years because the money dried up.

8 more targets from this set of results, then there are 9 more which need to be drilled.

That won't be the end though. We'll still need deeper drilling after those 9 additional targets, ideally we want 250m depth.

It's very possible we'll get some extra targets later down the line too.

Panthera announces agreement with Diamond Fields Resources for $18m funding for the Labola Project, 25th August 2021:
https://www.lse.co.uk/rns/PAT/us18-million-labola-funding-wmjvf42md1p99w9.html

Interview explanation from Mark Bolton, 25th August 2021:
https://www.proactiveinvestors.co.uk/companies/news/958580/panthera-resources-outlines-us18-million-labola-funding-deal-958580.html

Drilling completed at Labola, 13th August 2021:
https://www.lse.co.uk/rns/PAT/drilling-completed-at-labola-pdz59bipaqkpi61.html

Extract (Partial):
Work by Panthera and Moydow has shown that excellent potential exists confirm the historic database with a view to reporting a maiden resource estimate in accordance with JORC or NI43-101 guidelines. The recently completed drilling programme was designed to confirm the historic database and support Moydow's efforts to prepare a maiden resource estimate as well as to test two high priority exploration targets.

The drill cuttings from this programme are being analysed using both convention fire assay techniques as well as by the accelerated cyanide leach technique "LeachWELL" that uses a much larger sample (2-5kg) and hence minimises the statistical effects of coarse gold, which is known to be common in this area and is the main target of the artisanal miners.

The confirmatory "twin" drilling has focussed on the two largest areas identified by previous explorers.

In addition to the confirmatory drilling, two areas with no previous drilling have been targeted, designed to identify additional mineralisation. This drilling was designed to test a 350m gap in previous drilling along the western zone, and the possible northern extensions of mineralisation along the central zone. Both these areas have associated artisanal mining activity and IP chargeability and resistivity anomalies.

Labola drilling commences, 28th May 2021:
https://www.lse.co.uk/rns/PAT/drilling-commences-at-labola-6ujp3okujh8fiz0.html

Extract (Partial):
Highlights

· 5000 metre RC drill programme commenced at Labola (Wuo Land)

· Drilling will primarily support a maiden resource estimate

· Several exploration targets will also be drill tested

· Assay results expected from quarter three of 2021

Other ongoing work at Labola in support of a future mineral resource estimate includes:

· combining of all previous data into a single database;

· compiling and examining quality assurance and quality control (QaQc) data for the previous drilling and locating drillhole collars on the ground where possible;

· re-logging of drill core from several drill-holes, designed to establish controls on mineralisation;

· commissioning of up to date (February 2021) 0.3m resolution satellite imagery (Worldview 3) and production of a digital terrain model (DTM), 1m and 0.5m topographic contours, and rectified 0.3m resolution imagery; and

· identification and mapping of all artisanal workings and estimation of volumes of material moved.

The drill results from the planned work programme are anticipated from quarter three.

Labola interview with ProactiveInvestors and Mark Bolton, 16th December 2020:
https://www.proactiveinvestors.co.uk/companies/news/936664/panthera-resources-says-new-data-for-labola-gold-project-reveals-resource-growth-potential-936664.html

This mostly discusses the previous RNS from 11th December 2019.

All previous data was collected by Moydow, 11th December 2020:

Extract (Partial):
Panthera Resources Plc (AIM: PAT), the diversified gold exploration and development company with assets in West Africa and India, is pleased to announce that its associated company, Moydow Holdings Limited (Moydow), has secured all the previous drilling, geological, geochemical and geophysical data on the Labola Project, collected by High River Gold Mines Limited (HRG), later acquired by Nord Gold SE (Nordgold).

Highlights

· Data obtained include:

- 40,518m drill logs and assay results from some 282 RAB, RC and Diamond drill holes

- 784 rock chip and 3316 soil sample assays

- 495km2 of regional geophysics (magnetic and radiometric) - country scale data

- 260km2 of detailed airborne geophysics (magnetics, radiometric, time-domain EM)

- 25km2 of ground geophysics (gradient array IP)

- 165km2 geological and regolith mapping

- High definition Orthophoto (50km2) and Lidar topographic survey (250km2)

- First pass metallurgical testwork

· The data will greatly assist the programme required to estimate a maiden mineral resource at Labola

· Multiple additional targets are apparent in the geophysical and geochemical data

· Preliminary and limited metallurgical testwork results suggest the material will be amenable to gravity and conventional CIL extraction


The acquisition of the HRG data complements the previous data and core which includes 25,008 metres of RC and Diamond drilling in some 147 drill holes.

Purchase Agreement, 30th May 2019:
https://www.lse.co.uk/rns/PAT/labola-gold-project-successful-dd-outcome-2zvupy1rwvh4phg.html

Extract (Partial):
Panthera has informed the vendor of its decision to proceed and made the initial option fee payment of US$50,000. The agreement allows Panthera up to five years to explore and develop the project and it may obtain a 100% interest in the project by payment of US$1,000,000 to the vendor at any time within this five-year period. An additional payment of US$1,000,000 will become due if a JORC compliant resource exceeding 1,000,000 ounces of contained gold is defined and a 1% net smelter royalty capped at US$2M will be payable from production.

Negotiating an acquisition, 21st January 2019:
https://www.lse.co.uk/rns/PAT/labola-gold-project-acquisition-78xv8zfrasu3k8w.html

Extract (Partial): Previous explorers have announced combined JORC and 43-101 compliant resources of over 600,000oz averaging (approximately) 1.2g/t Au. Panthera believes these estimates require verification and accordingly, should only be considered as exploration targets.

· Significant potential for higher grade mineralisation can also be seen based on previous drill results:

2m @ 130.6g/t Au from 66m

11m @ 8.2g/t Au from 147m

6.5m @ 7.26g/t Au from 318m.

· Panthera will commence its exploration process with due diligence focussed on compiling historical data, re-log and re-assay core, confirming previously reported mineralisation and identifying areas for drilling to confirm, infill and extend those areas.

Geoff Stanley, Managing Director said "This agreement offers a great opportunity to fast track Panthera's path to an economic resource in Burkina Faso. The large strike extent of artisanal workings and the significant amount of previous drilling significantly de-risks the project and we are optimistic it will allow us to plan a major drill-out for later this calendar year."