Member Info for JP2000

Generally agree, if you control events then yes you should be responsible & it might be a good idea to keep quiet at times.

It becomes more opaque negotiating with a major because timelines & processes are different. They were negotiating a deal on Awkward (a big headline grabbing player), DH was adamant 6 months ago but doubtless got a low ball land grab offer. It shows maturity to look at the risk/reward, to decide to hold off.

The funding today was exactly what I expected. Where else was it going to come from other than a JV/deal at a discounted rate.

Let’s hope the last interview saying this is the beginning of a transformation comes true.

There's a grain of truth in what you say.

To understand; DH is an entrepreneur, had the balls to put the Winston & Pick deals together. As of yet it hasn't been executed & frankly nobody knows what's happening but I wouldn't have had the gumption to even see the opportunity.

Panther has always been chronically underfunded because it hasn't made a breakthrough (yet) & that massively impacts the ability to plan ahead & deliver. Look at Awkward, needs 3 drills c£200k, could sign a JV today & get £1m but if those drills find commercial grades then its worth £10-20m to Panther and c£50m with development.

DH has been clear about minimising dilution as the raise today demonstrates. Broadly Panther wants to use debt/trade financing for the large capital spend i.e. tailings production. Panther will list on the CSE next year on the back of Winston MRE/plans & probably raise £2m in new equity.

My message to SFH is arrange a call with Darren to discuss your concerns or consider selling out as nobody wants this constant whining.

The shorters on LSE don’t care, any excuse to slag DH off

DH is personally stumping up the money

The only logic is POW don’t want to return cash to shareholders & the Apex investment locks £4m away for 4-5 years before any commercial production & no obvious exit strategy.

Google, advanced search with region set to Zimbabwe. It’s really not difficult to find.

Within 6 months of staring in Zim, he’d been named in an affidavit and those details can be googled in Zim press. The allegations are not flattering.

But I suspect it’s more about cash for expansion and Purebond wanting to see a quicker return so they’re not endlessly financing.

Trash should have been fired in 2023.

Always seemed a bit bonkers but the tokenisation of assets does seem feasible. Pick Lake contains $3bn of metal in situ so that would be a prime candidate. My preference is to unify with Winston using it as collateral for tailings development/build. Of course it depends on Panther completing the Pick option in the next week.

Indicated resource of just 11,000oz is pretty underwhelming, ok they have other targets at Hillside & NS probably has 2-3 times more gold but investors can only value assets or cashflow.

AUD not CAD & previous payments offset. £1.2-1.3m.

Pyrite is not gold or copper.

Out of interest how large is your short 2-3 % ?

Dangerous, you know Pick Lake deposit contains $3bn of metal so once the deal closes this could move sharply higher. Kerem Usenmez knows the project inside out.

"Well paid" DH puts more money into the company than it pays him! suggest that comment is wide of the mark.

"slow progress", investors want spectacular assays (it can happen), the reality is that larger miners will drill 60 holes in a campaign with success on the 58th drill. Yes I get frustrated but DH is saying near term focus is on tailings & hopefully Awkward.

Does this mean transformational news in the next week because something major needs to happen by Wednesday?

There's a range £2.5-3.5m to cover next 6 months to end of Mar'26

£1.5m Pick Option

£250k Awkward campaign (Feb?)

£300k PLC expenses & wages

£100k Update N I43 101 Pick

£100-200k NI 43 101 Winston Tailings

£100-200k CSE Listing fees & legal

£100-200k Tailings metallurgy, plant design, permits

£50-100k resource modelling

£? Assays any amount not already paid.

So yes I stand by £3m which is there, thereabouts.

Not spoken to Darren for a long time & he's very quiet at the moment. The elephant in the room is they need c£3m for the next 6 months of which A$2.75m is due in 2 weeks time so you'll get your answers shortly.

Pick Lake has a historical NI 43 101 :

1.06 million tonnes

Grading:

14.1% Zinc

1.0% Copper

0.4 g/t Gold

Plus there's an opportunity to expand this with updated commodity prices & additional exploration & retesting of old cores for Gallium or Germanium. The upshot is if Panther can complete the option deal then they have a substantial asset to leverage against. The alternative is a strategic investor taking a large equity stake or a listing on CSE with flow through funding although BoD have stated they want to keep dilution low .

My view is it will be £1-2m perhaps with a bonus once NI 43 101 established.

The only predictable thing is the timeline will tak much longer than expected.