proactive29 Oct 2020 14:41
Alastair Ford
12:29 Thu 29 Oct 2020
https://www.proactiveinvestors.co.uk/companies/news/932707/panther-metals-well-positioned-to-make-major-gold-exploration-strides-in-australia-and-canada-932707.html
Panther Metals well positioned to make major gold exploration strides in Australia and Canada
Panther Metals has a highly experienced management team and a highly attractive portfolio of assets
Panther Metals PLC -
Shares in Panther Metals PLC (LON:PALM) have almost doubled in value since they were listed in London in January this year. What’s more, allowing that there was a bit of a bit of post-IPO selling, they’ve more than tripled in value since February, the last point in time at which we can say the market was unaffected by coronavirus.
Because, allowing for the coronavirus then trashing the value of everything in March, and Panther’s shares have risen almost sixfold.
This may seem like a rollercoaster ride, but it isn’t. Because following the coronavirus nadir, the 1.85p hit in mid-March, there’s been only one clear direction of travel for shares in Panther Metals: up.
The shares are currently trading at 11p, supported by three key factors.
The first is the market’s awareness of the quality of Panther’s team. Darren Hazelwood, the driving force behind the company, is the major shareholder and a man with huge experience in natural resources. Chief operating officer Mitchell Smith runs Global Energy Metals (CVE:GEMC) over in Canada and has extensive capital markets experience. Non-executive director Kerim Sener is well known in the UK for having built up and made an unarguable success of Ariana Resources (LON:AAU), while the company’s other non-executive and competent person Nick O’Reilly cut his teeth amongst other places at SRK Consulting.
So, that’s one tick.
The second is the positioning of the portfolio of assets.
The company has gold properties in Canada, and gold properties in Australia. With the possible exception of certain US states, it’s hard to imagine any better jurisdictions anywhere in which to be advancing gold projects. And gold itself looks like just about the best asset for any junior company to be in at the moment, having proved once again this year, that in time of crisis it’s the place to be.
The current gold price is just shy of US$1,900, as investors have sold down below key supports amidst a general coronavirus-related market rout this week. But remember what happened last time there was a major stampede for the exits back in March? – the gold price initially fell in line with equities, as investors looked to cover losses incurred elsewhere. But once that initial wave of selling was over, the bulls returned in considerable force. Will it be the same pattern this time round?
That’s hard to know, but what is clear is that if you’d asked most new Panther Metals investors back in January whether they’d be happy with US$1,870 gold, they’d have bitten your arm off.
So it’s a propitious
Sign In
Follow the stocks
