Member Info for ejt7777

Or 15 trading days. Maximum.

It's been a long time coming (a *very* long time for some of us!).

Good luck all.

Deck, apologies, I think we were at cross purposes yesterday.

Yes, there's about 250m shares.

Best,

Ed

@Deck, from the RNS on 16th April:

"Gold exploration and development company Panthera Resources Plc (AIM: PAT), with assets in West Africa and India, announces the issue of 881,748 new ordinary shares of 1p each in the capital of the Company (the "Ordinary Shares"), at an average issue price of 6.84 pence per new Ordinary Share (the "Issue Price") to settle certain director and warrant conversion."

500k shares were for a minor raise of funds, the remainder for directors etc.

Hard to say. 851,000 shares due for admission on/around today.

However, the drop today was fairly minor and the spread at close was about as small as it has been for PAT. Hopefully onwards and upwards from here.

Today was share admission day - it's game on from here.

The logic is sound. It's also why I think any out-of-court settlement offer over £300m would be considered seriously by Panthera (just IMO).

Fitzy,

I believe the VSA target of 40p is pre-SOC publication - happy to stand corrected. I'd be disappointed if we didn't challenge the all-time high SP when the headline "Panthera sues Government of India for $Xbn" on Proactive.

Still too many variables at play to accurately predict the SP either post-SOC or if a favourable award is made IMHO.

18 and a bit trading days to go until the backstop date of 16th May, although I wouldn't be surprised to see the SoC published sooner.

I don't think the share price will be in the teens for much longer.

Might be delayed for confirmation that the tax bill has been paid - then we're really at the races.

I agree with np - Panthera Resources is well worth investigating. An arbitration play with a great team behind them and a legally-bound backstop date of 16th May for the release of their next news.

A process-related question: is the statement of claim submitted to the arbitration panel and made public at the same time, or is there a lag please?

My understanding is that it's made public on submission but I just wanted to check.

Hi George,

For reference I know that Panthera Resources is trying to offload its Kalaka gold project in Mali at the moment.

@stever400 it was VSA.

Honestly? I just think they're not quite ready to release the "full project update" yet.

16th May has been set by the courts - I reckon it was set on a Friday upon the basis that it was the end of a working week rather than with any shareholder impact in mind. Whether or not PAT decides to release the SoC earlier is a matter for Mark and the lawyers.

I have a different mindset with PAT than my other investments - to an extent we are passengers on a journey that is being dictated by the courts, and overall it's more important to satisfy their requirements and comply with the process than short term market sentiment. Having said that, even if the SoC was announced at 1:17am on a Sunday morning, I'm sure the market would react as soon as it opened the following day.

I can't remember where I heard / read it. but I think the process following SoC is basically we have two rounds of back-and-forth where the other side have a period of time to digest, request for more information and counter the SoC, and PAT then gets time to digest, respond to their requests for info and counter their claims etc. followed by a final deliberation and judgement.

I understand our Panel Chair isn't one to hang around, so hopefully we will get the timeline quickly following SoC and it will be nice and efficient.

Depends on your timeframe - I reckon it'll be somewhere between 15-30p at SoC, and the value on settlement or award is dependent on too many unknown factors to accurately assess right now, not least whether all of that value goes onto the share price or some of it is paid via a dividend. I agree with Gall and would *guess* that 30x is on the optimistic side though.

Another 1.2M delayed share trades from yesterday published this evening...

I wouldn't be surprised if the SoC is ready to go but is yet to be issued - why would PAT let the other side have any more time to digest and respond than is bound by the courts? This is why I think we'll see it nearer the 16th May than sooner.

As ever, I'd be more than happy to be proven wrong.

I get where you're coming from, Cat. If Bhukia had been sold by a reliable operator and bought by a credible, reputable miner promising a relatively short development time to production, maybe a royalty % may have been an attractive settlement offer.

However, we have been dealing with an incredibly unreliable partner who sold the asset to a suspect outfit (sorry, I mean individual who bought it personally via his company - nothing to see there, I'm sure) offering a highly inflated royalty % to the GoR. A royalty only delivers cash when the gold is mined, and there's nothing about the transaction that offers a reliable prospect of that in a reasonable timeframe.

As a result, given a choice between some guaranteed cash or X% of a mine whenever it comes to fruition, taking the cash has to be the only sensible option in this case.