Member Info for ejt7777

Lawrence, I respectfully disagree. We know GoR are kicking the can down the road, but MB was out in India over the summer and late autumn - we don't know why, or what was achieved. Panthera hasn't issued a Notice of Dispute to GoI when it said they would - again, we don't know the context behind this.
Moving away from India, the Corporate Presentation of May 2022 only goes up to the end of 2022 - we have no published plans for any prospect beyond the end of the year.
Given how the share price has tanked (and it is now firmly a bottom-drawer stock for me), what is the investment case for 2023?

Sadly unlikely to see an end to this stalemate - the can has been kicked down the road again (surprise surprise) to 14/2/23.

Mark needs to update us ASAP.

Agreed. Let's get the (inevitable) disappointment of the 5th out of the way, and then MB had better update us on plans for PAT in '23 pretty sharpish thereafter. The corporate presentation from May is now out of date, proposed actions in India not completed (what was MB doing out there a few weeks ago?), what is the business case to sell to current and prospective investors to get them to part with their cash next year?

Anyone else struggling to buy more today? Stuck my order in on T212 at 10:30 and it still hasn't processed. Mind you, T212 isn't the best platform in the world...

Morning JL.

Further to the RNS on 12/10, we are still awaiting some rock sampling results from Bido. Apart from that, Bassala's 2022 drill campaign is complete, and Labola looks to be quiet too this quarter (some environmental / CSR stuff aside). The company's Corporate Presentation from May contains timelines until the end of 2022 only, hence Mark is going to need to update the market with Panthera's 2023 plans in the near future.

I don't hold my breath re: Bhukia for resolution on 5th Dec either (but live in hope), but Mark being in India at the moment suggests that there is focus on this prospect right now. *IF* he pulls it off (big, big IF)...

Hi Ed,

As JL has said, 5th Dec. Take a look at the 'SP' thread started by Pollack with around 8 replies for current known info on it.

Cheers

Good job I don't retire for another 30 years then...

@mickey oh absolutely - Faskens would try to squeeze the Govt as much as it could.
A quick google was used to figure out the value of gold in the ground to a prospector - the results ranged from $10/oz to $150. Even at the bottom end of that scale it's about 10x current MCap, and at the upper end it's about $1.7bn (hence the extra couple of zeros on the MCap comment by Mark).
Given the glacial pace in India at the moment, if December is unsuccessful I think Mark should escalate to the next level.

Fair comment John

In all likelihood, Bhukia probably isn't going to get resolved in December and yes, I agree, the courts over there are a complete farce. I'm approaching the December date with hope rather than expectation.

However, there are a couple of anomalies from which I would like explanations from Panthera regarding this prospect:

- Mark was in India in August, and no explanation/subsequent feedback given. Likewise, we know he's there now. What's he up to? Negotiating a JV? Settlement? Negotiating with the courts behind closed doors?
- Why haven't we issued the Notice of Dispute to Govt of India yet? I suspect that this is related to the above, but that is an educated guess rather than anything more tangible.
- There were 2(?) hearing dates over the summer, but the last published order/judgement was in March. Again, why were no updates published by the courts following these sessions, and why the extended 5-month delay to the next hearing?

The latter point probably relates to your observations on the Indian legal service, however the former two are within Panthera's gift to inform its shareholders on. That feels binary to me: either we've done/achieved nothing, or talks are ongoing and MB doesn't want to jeopardise them.

Rightly or wrongly, Panthera's share price and Bhukia are intertwined, and this will remain a 'bottom drawer' stock for me until it gets resolved one way or the other.

Cheers
Ed

As an aside, I was reflecting on a settlement value. The corporate presentation from May '22 states that Bhukia has a JORC compliant 6.7MOz gold, plus copper. The value of gold in the ground varies, but using $10/Oz as an ultra conservative, lower end of the scale would value Bhukia at $67M, or approx. 10x our current MCap.

I get why JL is frustrated too, Pollack. However, while he's happy to fill the forum with macro information, whenever anyone posts a query about this stock's prospect in India he's very quick to dismiss it.
Resolution of Bhukia one way or the other is required to allow the company to move forward, and the sooner the better. My expectations for 5th December are suitably managed though.

I think we can both agree with a fair degree of certainty that MB's primary focus in India isn't sightseeing!

Regardless of the outcome on 5th December, I would like Panthera to provide an update to shareholders, as two of the target timescales for Bhukia will have passed. I don't hold my breath for that though.

John. I know you dgaf, but someone who does care about it asked for some information.

Hi Pollack,

- Court dates: via the court website (https://hcraj.nic.in/cishcraj-jdp/) - it's case registration no. CW/13521/2018. Let me know if you need a guide to access the case info. However, the lack of any interim judgments since March seems a little odd.
- The timeline of events was from the last corporate presentation (https://pantheraresources.com/investors/presentations/)
- MB's movements from following @PantheraPlc on Twitter

Hope this helps.

The facts, as we know them:
- Mark was last in Bhukia in August (judging by Panthera's Twitter feed), and is clearly there now.
- The next court date is three weeks today on 5th December
- Looking at the timescales on Slide 19 of the corporate presentation from May '22:
- no new joint ventures have been announced (timeline targeted end H1 for this)
- no Notice of Dispute has been issued to the Government of India
- no settlement has been agreed with Government of India

In terms of Mark being in India at the moment, I *hope* it is to either agree a JV which unlocks the courts or to try to negotiate a settlement, and that he has held off issuing the Notice of Dispute to facilitate progressing these. Without any additional information, it's conjecture at this stage.

-79% here

As it's still in the middle of the night in the USA (4:35am in New York as I type at 9:35 in the UK), I very much doubt court will be sitting...

Expecting either an intraday RNS or tomorrow morning.

Oh, hello new board member with an unsubstantiated statement which tells us all what we want to hear.

The open tomorrow could be interesting

I'd suggest you do your own research and take both rampy and de-rampy comments with the vat of salt they deserve