Member Info for Moneymunch

Hi opulentia, it almost looks like a done deal now imho, and let's not forget that although Modi and the BJP won a land slide general election, the State of Rajasthan is consoled by the Congress Party after ousting the BJP in the assembly elections in December 2018 and it was the previous BJP Rajasthan officials who had tried to overturn Panthera's rightful claim during their 5 year tenure....and so the new administration are now doubt much more supportive and sympathetic to Panthera 's rightful legal claim, especially given the high unemployment in Rajasthan and the new impetus and direction of Modi to reignite India's economy, along with the new mining policy and planned BSE listing etc.....Chief Minister Ghelot is very likely to give the green light and maybe already has given the nod approval. Gl ;-)

Good for you opulentia, only a couple of weeks to go for a potential game changing, breathtaking rise on permit approval....Excitement building Gl :-)

Ps looks like Geng is complete wrong ....yet again...ha ha ha....On and Up!!! :-)

Lol Geng...get real....you were predicting 5p 2 weeks ago and so you obviously keep missing out on Panthera's stellar performance..Ho Ho Ho...this will bounce big again when the few profit takers are done..potential transformational news only a couple of weeks away...BOOM TIME FAST APPROACHING!!! :-)

Nothing goes up in a straight line and so nothing more than a few profit takers after last weeks impressive rise imho which provides a new support level for the next surge North... and every chance that this is near enough a done deal and so this will bounce big in run up to D Day , the next high court hearing scheduled 8th July, and then Boom time on permit approval. Gla holders, hold on tight and enjoy the ride..;-)

New York (CNN Business)Gold bugs are finally having a moment. The price of gold topped $1,400 an ounce Friday. That's the highest level since September 2013.

The price of gold is now up nearly 10% this year. Gold has gained momentum thanks to expectations of a rate cut by the Federal Reserve as soon as next month.

Rate cut hopes have helped push the dollar lower -- and gold tends to rally when the dollar gets weaker because that makes it more attractive to foreign buyers.

"Gold, the anti-dollar, is on fire," noted Kit Juckes, global fixed income strategist at Societe Generale, in a report after the Fed meeting this week.

The continued drama surrounding trade talks between the United States and China is helping push gold higher too.

Unless US President Donald Trump and Chinese President Xi Jinping come to a deal at next week's G20 meeting in Osaka, Japan, gold prices could keep climbing -- especially since the market doesn't expect the Fed to do anything that would push the dollar higher.

"We expect a dovish Fed, US-China trade tensions and lower real US interest rates to support gold prices," said UBS Global Wealth Management's Chief Investment Officer Mark Haefele in a report.

Gold has also been boosted by geopolitical tension with Iran after a US drone was shot down by Iran's Revolutionary Guard this week. On Friday, Trump tweeted that the United States was "cocked & loaded" on Thursday night to strike Iran before deciding to stand down.

Investors often flock to gold as a safe haven in times of increased volatility because it's a tangible asset whose value is not tied to the actions of central banks.

"Gold has historically been a pocket of strength in periods where uncertainty increases sharply," said CFRA investment strategist Lindsey Bell in a report this week.

And as questions linger about how much this epic market rally -- now more than ten years long -- can last, investors may continue to look at gold as a way to protect themselves in case stocks fall sharply.

Bell added that gold is "a smart and defensive way to diversify a portfolio in the later innings of a bull market for which uncertainties have increased."

The Vedanta Resources chairman, who was one of the three industrialists invited for a pre-Budget meeting that Modi had with over 40 economists and sectoral experts Saturday

Agarwal said that India's import bill of USD 400 billion will soon be USD 1 trillion if it does not ramp up production of oil and gas, minerals and metals such as gold. "If we can double the oil production and raise gold output to 300 tonnes, the entire current account deficit (CAD) will be wiped out," he said.

Mining in 200 blocks should be approved immediately and big blocks of coal, bauxite, copper and iron ore should be auctioned, he said, adding there should be no production cap such as ones existing in Goa and Karnataka on iron ore.

He emphasised that increased mining can add USD 500 billion to the economy and create two crore jobs. "Existing oil block contracts should be extended on the same terms and no retrospective tax should be imposed. Also, all forest and environment clearances should come in 60 days and corporate tax should be reduced to 20 per cent from current 30 per cent," Agarwal said.

He also said that natural resources and electronics hold the massive potential to create jobs adding that India should focus on sustainable exploitation of underground resources.

Given the backdrop of Galaxy and Hunch Capital's extensive technical and legal due diligence on Panthera's rightful claim to Bhukia's world class gold asset and their decision to make an initial $500k investment into Bhukia's development, and their planned BSE listing to ensure the participation of Indian Institutions and investors, as well as Modi's "single minded pursuit" to re-ignite India's economy along with a new Mining Policy to encourage Foreign Direct Investment and private investors and ease of doing business, including "first right to refusal to mineral reconnaissance permit holders", then the timing of the next hearing, 3 days after Modi's budget bodes very well indeed.

A successful conclusion has never looked more likely imho...Tick Tock Boom!!! Gla ;-)

Thus, Make in India must be supplemented with Find in India, where the world's top mining companies with state-of-the-art technology start mining a wide range of metals and minerals, like coal, iron ore, bauxite, oil and gold, in India on a sustainable basis, with utmost care for the environment. Given the wealth of India's untapped resources, if we produce even half the oil and gold we import, we would be a country with a current account surplus.

The National Mineral Policy 2019, approved by the Cabinet in March this year, aims to increase the production of major minerals by 200% in seven years. The target is achievable if the policy is kept absolutely simple and transparent, without a circuitous string of approvals. Further, the policy could be production, and not revenue based, because the entrepreneur or the businessman, who risks their investment, must earn a decent return from the project. The government may focus on the long-term and aim for steady returns, rather than pursuing revenue and profits that force prospective investors to stay away.

Modi's budget to be presented 5th July ,3 days before Panther'a scheduled high court hearing 8th July.....all bodes well.Gla ;-)

Budget 2019: PM Modi discusses 'single-minded pursuit' for growth, FDI in banking, divestment | 10 points

During the interactive session, ahead of the presentation of the Union Budget next month, speakers made a case for "single minded pursuit" to achieve growth, sources said.

New Delhi
June 22, 2019

Days before his newly-elected government's maiden budget, Prime Minister Narendra Modi on Saturday interacted with economists and industry experts on current economic situation and took note of their suggestions. In the interactive session organised by Niti Aayog on 'Economic Policy - The Road Ahead', over 40 economists and other experts participated. During the interactive session, ahead of the presentation of the Union Budget next month, speakers made a case for "single minded pursuit" to achieve growth, sources said.

The meeting between PM Narendra Modi and the economists was dominated by discussions on road map for increasing revenue mop-up and taking reform steps to push GDP growth, which has slipped to five-year low of 6.8 per cent in 2018-19. Further opening of banking and insurance sectors for FDI, speeding up disinvestment process and management of water resources were also among the focus areas of PM Narendra Modi's interaction with economists and industry experts. Sources said that key issues like creation of jobs, boosting exports amid trade wars and initiating more structural reforms too were focus of the interactive session.

During the session, Vedanta's Anil Agarwal made a case for further liberalisation of the coal and mining sector.

Finance Minister Nirmala Sitharaman will be presenting the full Budget for 2019-20 on July 5 in the Lok Sabha. It will be first full Budget of the Modi 2.0 government. The budget is expected to address issues like slowing economy, financial sector troubles like rising NPAs and liquidity crisis in NBFCs, job creation, private investments, exports revival, agrarian crisis, besides raising public investment.

The combination of reforms in areas like agriculture, labour and land, coupled with the creation of a conducive investment environment, backed by the easing of tax laws, will surely re-ignite the economy's growth engines. While Modi's mission of Make in India can be taken to the next level with progressive reforms for domestic industries, it is about time we had a mining revolution along the same lines as the Green Revolution and the White Revolution. Given the country's rich and diverse ecology, India should further open up key sectors like mining and oil & gas for copious FDI flows that will not only curb needless imports but also generate millions of jobs at the direct level as well as in ancillary industries.

Lol...No chance.......more like a high octane fuel injected rocket burner when news lands.....On and UP!!! Gl ;-)

The Tiger is awakening and getting ready to Roar!!! Gla ;-)

Right time, right place opulentia ....everything firmly crossed for a successful conclusion....the sp performance certainly suggests all is progressing well......and now looks like the majority of shares, there can't be many left in free float, are held very tightly for the potential multi-bag on permit approval.....Momentum building, excitement building. Gl :-)

On and Up!!!:-)

and an additional c£1.5m cash coming from Panthera's Strategic Investor, Republic Investment Management, with all approvals in place for the re-commencement of exploration work- . Gla ;-)

Panthera has a binding investment agreement with Republic Investment Management Pte Ltd. (Republic) of Singapore for three tranches of equity investment totalling A$6.7m by Republic and co-investors (represented collectively by Republic) into Panthera. The Company received Tranche 1 in July 2017 and Tranche 2 in January 2018 totalling A$4.0m. The final Tranche 3 of A$2.67m at A$0.65 per share is due at the time the Bhukia PL is granted and the necessary environmental and forestry permits for drilling are obtained. The funds will be used to finance a ramp up in exploration activities designed to confirm the Geological Survey of India non-JORC resource of 108 million tonnes grading 2.0g/t Au and define it to JORC compliant standards.

moneymunch

ps Galaxy's planned listing on the Bombay Stock Exchange, which will include Panthera's Indian subsidiary will very likely provide significant funds and capital for full development and production at Bhukia, and no doubt add considerable value to Panthera. Gl ;-)

Galaxy will earn a further 7.14% interest in IGL at the time that Panthera makes the decision to recommence exploration on the project.

Galaxy will earn a further 5% in IGL on a board decision to commence construction at Bhukia.

Previous work on at the Bhukia Project by the Geological Survey of India outlined a non-compliant resource containing 6.7Moz of gold at a grade of 2.0 g/t Au, while a limited drill programme by the company outlined a JORC-compliant resource of 1.7Moz of gold at a grade of 1.4 g/t. Mineralisation extends from surface, supporting the view that the project should be able to be developed as a large, bulk-mineable, open-pit operation with a low strip ratio. Metallurgical work to date suggests the gold is non-refractory and that the most appropriate processing route is likely to be flotation followed by regrinding and CIL, with 85-90% recoveries expected.

Loads of cash on permit approval , Galaxy's third payment ( $750k ) will be made on permit approval. Gl ;-)

Galaxy and Hunch Ventures have carried out extensive technical and legal due diligence on Panthera's rightful claim, hence their investment, which indicates supreme confidence.....not long to go now before we find out if they're on the Money!!! Gla Holders ;-)

Panthera and Galaxy are working closely to negotiate Indo Gold Ltd ( Panthera's Indian subsidiary ) participation in the listing of Galaxy on the Bombay Stock Exchange (BSE) possibly through a merger to the acquisition by Galaxy. We believe that this, together with the granting of the Bhukia PL have the potential to add considerable value to the company.

The company continues to generate encouraging exploration results from its portfolio of gold exploration licenses in West Africa and the $500k payment under the agreement with Galaxy is a demonstration of the faith that Galaxy have in their ability to help advance the process towards the grant of the PL over the Bhukia project (IGL 70%).

This would allow the company to re-commence exploration on the project which has the potential to develop into a large-scale open pit gold mining project and where current JORC compliant resources are 1.7Moz and the company has a target of outlining 6.0Moz of resources.

Galaxy earning up to 22% stake in Panthera's Indian subsidiary in return for US$1.25 million and ongoing support and services to advance the Bhukia JV project in Rajasthan to the construction phase ” Galaxy is a private Indian company with Australian management that is backed by an Indian venture capital group, Hunch Ventures. It was formed in 2016 to build a portfolio of interests in the Indian gold sector and it intends to list on the BSE in 2019.

Under the terms of the December 2018 agreement, Galaxy agreed to

purchase a 10% stake in Panthera's 100% owned subsidiary, Indo Gold Pty Ltd. ("IGL"), for US$1.25m and

earn up to a further 12% by providing ongoing support and services to advance the Bhukia JV to the construction phase and

work towards Indo Golds participation in Galaxys listing on the BSE, which the company believes will more strongly align Indian capital and investors with the success of the project and allow greater participation by Indian investors in the success of the Bhukia project.

Galaxy agreed to purchase the 10% interest in IGL in two 5% stages. In the first stage a 5% stake was purchased for US$500,000 consisting of two payments the second 5% stake is due to be purchased for US$750,000 prior to the re-commencement of exploration expected H2 2019.

Galactic can also earn up to an additional 12% interest in Indo Gold subject to certain milestones - by providing administrative, legal, permitting and technical support to advance the Bhukia JV project (Indo Gold 70%) in India.

Ps RMR..... if and when the permit is approved, then i suspect the herd will arrive and will be posting in their droves, and opulentia and myself will be some what sidelined in the stampede.......Bring it on!!! ;-)

Cheers RMR and best of luck to you too , i also find it funny how few others post here given the sp performance and near term potential, and over at Advfn i'm virtually the only poster ( see my earlier post for my take on why ) Gl ;-)

ps Correction...50p only equates to a market cap of £33.5m!!! ;-)

Hi Gotatasteforit, i posted the following yesterday, which gives an indication of a likely timing of permit news, and as far as value is concerned, Panthera's market cap is c£8m and there are plenty of Aim listed Gold explorers with no where near the same resource potential, ( as well as India's 6m oz resource target, Panthera have 4 highly prospective projects in West Africa ) that have market caps at £40m, £50m and more, and so confirmation of permit approval should see this re-rate considerably.......30p would only equate to a market cap of £30m, which would still look like an absolute steel. Gl ;-)

8th July or a day or two later at the latest , although Potential transformational news could drop at anytime ..the State of Rajasthan had 6 weeks and their " Last opportunity" to reply to the High Court order 6/5/19 and the next high court hearing is listed for 8th July 2019, and so with 6 weeks up, if no reply is made then presumably Bhukia's exploration permit will be awarded to Panthera and associates, and given the new mandate and direction of Modi's re-elected Government to re-ignite India's economy and focus on job creation , along with the new mining policy and ease of doing buisness to encourage private and foreign investment, then there's every chance that there will no longer be any objections to Panthera's rightful claim, especially with the prospect of a BSE listing to ensure key Indian institutions and investors can partake in Bhukia's development, and so maybe already a done deal.....Gla ;-)