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This is a legal case, so I would assume (but am no expert) there is a balancing act between ensuring the market is informed in a timely manner and not informing the market before the arbitrators or the respondents, which could undermine the case.

The lack of SP movement today suggests no leaks.

This isn't LCM's first rodeo, nor is it Mark's.

SoC will have been submitted by now. RNS will follow.

What's a factor of 10 between friends...

We're pretty close Prof - 6.7Moz at $40/oz in-ground is $2.7bn

The headline "Panthera sues Government of India for $Xbn" on the front page of Proactive etc. will increase the profile and interest in the case and the company, especially as the next milestone is relatively soon (26th July, I think?).

The claim quantum will help to determine whether Panthera is over or under valued at the moment, as well as the potential future reward to assess risk/reward.

In short, I think it will affect the SP in the immediate term, hopefully positively.

Let's just avoid another day on here like yesterday.

"the case is being presented on Panthera's behalf **BY** a leading international provider of dispute financing solutions, which is independent of Panthera..."

My understanding is the same as Gall's - that the SOC could not be unilaterally delayed by Panthera; any request to delay would require prior agreement with the arbitration panel (and possibly the other side, too), and then notifying via an RNS.

For those with the jitters about Panthera, just remember this: the case is being presented on Panthera's behalf to a leading international provider of dispute financing solutions, which is independent of Panthera. The case is being heard at an international tribunal with its seat in London, arbitrating on the application of international law via treaties between India and Australia. It's not a 'pump and dump' by Mark or Panthera - it is legal due process being led by experts in their respective fields in a reputable jurisdiction.

There will be news, and it will land imminently. Patience.

Great minds think alike, Magoo

I think that, given the past behaviours and actions of the Govt of Rajasthan, if I were Panthera I would want the arbitration process to continue in parallel until any settlement cash is in the bank.

I do agree though that settlement seems the likeliest option, potentially sooner rather than later.

PAT can't be late with this one without informing the market as the deadline has been set by the court.

For what it's worth, my thought process with this is that it's a bit like buying a house. Completion is due on Friday, any sooner is a bonus.

I'm sure that the market will be informed by 8am on Monday.

It'll be submitted when it's submitted, and the accompanying RNS will land when it lands. Pretty relaxed about it tbh.

My guess is the SoC will happen at some point between now and the close of business on 16th May.

7.5 trading days left (max) - not long to wait.

Unless there are some interesting gems like the VSA video in the interim, there's not a lot else to say on PAT that hasn't been said already.

@Deck, in one of the VSA videos a while back the host believed Panthera should have been at 40p at that time (Feb/March-ish).

It's not going to be below $1bn. 6.7Moz at $40/oz in ground is $2.7bn, so that's my guess.

I certainly wouldn't want to be out next weekend...

50p/share is roughly 5% of a $3.3bn claim.

Maybe a touch on the optimistic side...

Thanks; was just wanting to confirm whether the RNS is expected to be:

- SoC submitted and we'll tell you the details later, or

- SoC submitted and it's for $Xbn, here are all the details

and hence to manage my expectations accordingly.

It really could land at any time.

Just wondering if anyone knows if there's likely to be a delay between SOC submission and the details therein being made public? I.e. if it's submitted, does Panthera have to wait for receipt to be acknowledged by the court and the info passed to the other side before the details are made public?

I'm expecting the SOC to be in the region of $1-3bn. Not long to wait to find out!