Member Info for Moneymunch

The points raised by the GoR contradict their own recorded positions taken at various times and are against the principles of Indian Corporate law and against the principles of the amended Mining Act, which provides for seamless transfer from Reconnaissance to Prospecting to Mining. This also goes to the heart of the nation's foreign investment policies and the Prime Minister's vision to 'Make in India'

Panthera intends to move rapidly to further protect the JV's rights in the Courts of India, and will also be investigating recourse through bilateral treaties that exist between the UK and India and Australia and India"

It is clear the Government of Rajasthan is errant in rejecting MMI's application. Some comments Panthera would make regarding the points 1. - 5. above are as follows:

https://uk.advfn.com/stock-market/london/panthera-res-PAT/share-news/Panthera-Resources-PLC-Bhukia-Prospecting-Licence/78107619

The following was released in August 2018 and illustrates just how strong Panthera's legal position is to their rightful claim over Bhukia's permit license...which was further validated a month later by the High Court protection order....since then, Galaxy and Hunch have carried out extensive legal and technical due diligence on Panthera's rightful claim, hence their investment, and combined with the new administration now in place in the Rajasthan Government and Mining Department, a successful conclusion and rightfil award is firmly in our favour imho...Gla holders...Transformational upside on permit license approval...Tick Tock Boom!!! :-)

1/8/18

Company Action to be Taken:

The permitting process for Bhukia has been long and protracted, with successful legal intervention required on numerous occasions to protect the Company shareholder's rights and advance the project. Accordingly, the JV has built an exceedingly strong base from which to launch a legal challenge to this latest attempt by the GoR to deny its rights.

The Board have taken detailed legal advice from multiple highly respected, industry leading, law firms and are moving immediately to file a Writ Petition with the High Court of Rajasthan pursuant to the protections granted by its January 22(nd) Order. The Board are highly confident that it will secure the Stay Orders required to completely protect the JV's rights over the entire area of the former RP, which will then put it in a strong negotiating position regarding the grant of the PL.

It is a well documented fact that the JV has met all the necessary criteria for the grant of a PL and it is now a requirement under the laws of India for the GoR and the Government of India to grant it. The Board anticipate full Stay Order protection within 10 weeks, with a possibility that the Court will grant an Interim Stay Order within the next month.

In addition to the legal proceedings, the Company will also start a dialogue with the Government of India given the concerns surrounding how the GoR has conducted itself in contradiction to the country's legal framework and their own previous communications.

Geoff Stanley, Panthera Resources Managing Director, commented;

"I am immensely disappointed that, after working under a valid RP for three years and defining a resource, after 10 years of work on this permit, after having negotiated with the GoR an agreed plan for its grant, and after almost a year of positive feedback from the Principal Secretary of Mines, that the GoR has used all of the same issues that have been addressed and settled repeatedly at various times in the past as reasons to reject the PL application. The intention, motives and timing of the actions of the GoR are highly questionable, as they allowed the JV to work in the area under a RP, spend significant resources to identify a JORC compliant resource and now after all these years are yet again attempting to deny the JV its legal rights.

Rajasthan's new Government are the Congress Party...Centre Left...:-)

Rajasthan's old Government was the BJP party ( Right Wing Hindu Nationalism) and they are the one's who have tried to reject Panthera's rightful claim...Rajasthan's new Government , elected in December 2018 are Centre Left, and it is this new Government along with the new Rajasthan Mining Department officials who will decide on the way forward ( 8 senior officials from Rajasthan's mining dept were arrested on large scale corruption charges in January, and so a new set of decision makers in all departments) ..Galaxy and Hunch Investments have carried out extensive technical and legal due diligence on Panthera's rightful claim, and the Writ Petition and Stay and Protection order indicates that Panthera's case is rock solid, hence their investment into the project, and their BSE IPO listing planned for this year will no doubt will be a very attractive proposition to many potential Indian stake holders and key administrators...Panthera's case has never looked stronger....and only 5 weeks before the next High Court hearing that's listed for 15/4/19 on the Rajasthan High Court website....Gla holders....Transformational upside on permit license approval...Every chance!!!..:-)

The current JORC compliant resource of 1.7m Oz at Bhukia, equates to a massive $2.2 Billion at current price of gold, and a staggering $7.8 Billion on the 6m oz resource target...Panthera's current market cap on their 67.6m shares in issue is c £6m, and so what price and fair value on market cap on permit license approval...£20m,£30m, £50m and more??? A market cap of £67.6m at £1 a share would still look like the bargain of the century with so much gold potential..Gla holders..Tick Tock Boom!!!:-)

Galaxy's second $250k payment scheduled for this month, will speak volumes on expectations of permit license approval, and with negotiations underway with key administrators, is there a chance that this could be settled out of court if the new Rajasthan Government and Mining officials have no objections to Panthera's rightful claim??? If everyone is agreement, then positive news on proceedings could arrive sooner than the High Court hearing listed for 15/4/19....we're now approaching the most exciting and potentially transformational period in the coming days and next few weeks...Gla holders....Panthera will be the Star share of 2019 and beyond on Bhukia's permit license approval...Every chance!!! :-)

Nice one opulentia, Panthera owns 15% of Aforo, amongst others....website updated to include Galaxy's current 5% of Indo Gold...Gl ;-)

https://pantheraresources.com/about/history-structure/

28/12/19

Geoff Stanley, Chief Executive Officer of Panthera Resources, commented:

"During this period Panthera has been able to build on the transformation of the Company that began with its AIM listing late in 2017. Strong Stay Order protection of our key Bhukia PL rights puts us in a good position to negotiate a PL grant. A partnership with Galaxy Gold (and its main Indian investor, Hunch Ventures and Investments) was negotiated, which validates the technical merits and strength of our legal claim as well as providing a strong valuation measure.

14/1/19

Bhukia Permitting Update

As previously reported, the recent Rajasthan state elections resulted in a change of government. Following this change a new Attorney General and Associate Attorney General were appointed for the state in mid-January. The government's response to our recent Writ Petition requires review by the new appointees prior to submission to the court. While the government's response was due within four weeks of the 26 September 2018 Court hearing where our Writ Petition was admitted and stay protection granted, we anticipate further intermittent delays as the Court is likely to provide the government leniency following the election and change of administration. We will update the market as the case progresses, but in the meantime we have begun the process of engaging with the new administration with a view to negotiating the grant of the Bhukia prospecting licence.

20/12/18

The transaction brings Indian capital to support the development of Bhukia, it provides key corporate, bureaucratic, technical and administrative capabilities in India, and allows IGL an opportunity to participate in Galaxy's BSE listing process, which is planned to commence 2019. Galaxy and Hunch's Indian legal and technical due diligence also provides strong validation of the strength of the Bhukia PL application and demonstrates a current valuation for Panthera's share of Bhukia that alone significantly exceeds the market capitalisation of Panthera".

BSE Listing Opportunity

Galaxy is planning to commence the process of listing on the BSE during 2019. The term sheet signed between Galaxy and IGL requires both parties to work toward agreeing a joint approach to this listing opportunity, which may result in a merger of the two companies if a suitable valuation framework can be agreed. The board of Panthera considers the potential for having one of its subsidiaries or listing some or all of its Indian assets on an Indian exchange as highly attractive. It 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.

Administrative, Permitting, Legal and Logistic support

Galaxy and Hunch will provide extensive in country support and assist IGL's effort to prepare for exploration to re-commence at Bhukia. This support will be multifaceted but will at a minimum include administrative and legal support, introductions and negotiations with key administration officials, and strategic, financial and permitting advice, among other things.

With negotiations underway by Panthera and Galaxy with the new Rajasthan administration and other key officials, and Hunch Capital's strong government, corporate and institutional connections to the mining industry in India as well as Galaxy's intentions to list on the BSE which would enable Indian institutions to participate in Bhukia's development , then presumably negotiations must be going well, hence Galaxy's first $250k payment 19/2/19, which indicates supreme confidence in a successful conclusion.....the second $250k payment is due by 31/3/19 and it looks as if the High Court Hearing is listed 15/4/19, and so i can't imagine Galaxy and Hunch making this second payment unless they're convinced that the new administration and other key players with a vested interest are now sympathetic and supportive on Panthera's rightful claim , and the High Court hearing will be a mere formality in confirming the award of the permit license....and so confirmation of Galaxy's second $250k payment in the next 3 weeks will be a very strong signal that they expect a favourable outcome....watch this space!!! Gla ;-)

Lol maestro, legally , according to the High Court, it's still there's.....this forum and elsewhere was awash with so called clever b'stards with the same opinion as yours when the sp was c2p...Ho Ho Ho....they've all disappeared....Ha ha ha....no one has ever said that this is a given, but anyone who denies the possibility must have his head firmly up where the sun don't shine....all the ducks I lining up nicely and only 5 weeks to go before the potential upside of Upsides....50p plus plus plus would still make this look cheap as shit on permit license approval...Gla holders..hold on tight, along with the smart Money.....Momentum building, excitement building...On and Up!!! :'l

26/9/18

Geoff Stanley, Managing Director of Panthera Resources plc, commented:

We are very pleased that the Courts of India have again proved to be effective in protecting the Company's rights to the Bhukia project. This strong protection offers additional paths to resolve the permitting process with the GoR, puts us in a strong negotiating position, and validates our rights. The Bhukia project may represent one of the most significant undeveloped gold and copper deposits currently known, and despite these ongoing delays, we are confident of our rights and believe opportunity to advance such a high-quality project is within reach. I look forward to updating the market as further progress is achieved toward the goal of being able to grow the existing JORC (2012) resource of 1.74 million ounces by drill defining the larger exploration target, which currently stands at over 6.0 million ounces.

Panthera are currently the RP/PL ( Reconnaissance Permit & Prospecting) holders of Bhukia, and so the latest mining policy approved by the Indian Government could be highly significant in Panthera's PL application!!!??? gla ;-)

"The provisions include the introduction of Right of First Refusal for RP/PL holders and encouraging the private sector to take up exploration. "

India approves NMP 2019 for sustainable mining sector development

1st March 2019

The Indian Cabinet has approved the 2019 National Mineral Policy (NMP 2019), which aims to develop the mining sector in a sustainable manner.

NMP 2019 replaces the current National Mineral Policy, which as been in place since 2008, and aims to ensure effective regulation. It will also address the issues of project-affected persons especially those residing in tribal areas.

The new programme aims to have an implementable policy that brings in further transparency, better regulation and enforcement and includes provisions that give a boost to the mining sector.

The provisions include the introduction of Right of First Refusal for RP/PL holders and encouraging the private sector to take up exploration.

https://www.mining-technology.com/news/india-nmp-2019-sustainable-mining/

At a hearing on 26 September 2018, the Court admitted the Writ Petition, issued notice to the GoR and asked for a response within 4 weeks.

The Court also gave interim protection to the Bhukia JV by ordering the Government to restrain from dealing with the area comprised in the PLA, until further orders. This was the predicted outcome for the Company and it provides excellent protection of Panthera's rights and allows the Company several good options to advance the permit to its rightful grant.

The Court heard the matter in detail and found the grounds for rejection to be without merit as they questioned the validity of the sanctioned Reconnaissance Permit in favour of the Bhukia JV and the preferential rights accrued in favour of the company after it successfully completed reconnaissance work under the permit. The interim order was passed ex party, at the first effective hearing and reflects the strong case the company has to protect its legal rights and to have the rejection order reversed.

ps Moshp.....Gl ;-)

Galaxy's second $250k payment scheduled before end of month, and only 5 weeks to the all important High Court hearing......considerable upside on the rightful award of the World Class Bhukia gold prospect and its 6m plus oz resource target. Gla Holders...Exciting times ;-)

Rajasthan High Court Principal Seat Jodhpur
Case DetailsCase Type : CW
Filing Number: 36276/2018Filing Date: 01-09-2018
Registration Number: 13521/2018Registration Date: 05-09-2018
CNR Number: RJHC01-060720-2018

Case Status
First Hearing Date
:

Next Hearing Date
: 15th April 2019

Stage of Case
: ORDERS / APPLICATION

Coram
: 1635
Bench
: Single Bench
State
: RAJASTHAN
District
: Banswara
Judicial
: M/B WRIT SECTION
Causelist Name
: Daily

Petitioner and Advocate1) METAL MINING INDIA PVT. LTD.

Advocate- VIKAS BALIA DINESH PAL SINGH CHARAN,ASHOK CHOUDHARY,PRAMOD VYAS

Respondent and Advocate1) STATE OF RAJASTHAN

2) DIRECTOR

3) UNION OF INDIA

https://services.ecourts.gov.in/ecourtindiaHC/cases/ki_petres.php?state_cd=9&dist_cd=1&court_code=2&stateNm=Rajasthan#

Obviously the permit approval isn't guaranteed, but their lies the tremendous upside opportunity if it is...there's a new Government in Rajasthan since December 2018, the Congress Party who are much more liberal and forward thinking than the old BJP Government...8 senior officials from Rajasthan's mining department who no doubt were involved in the decision making process were arrested on large scale corruption charges in January and so you have a complete change of personnel who were originally opposed to Panthera's rightful claim....the High Court has already granted Stay and Protection order to Panthera and so let's see what happens on the next hearing which looks to be listed on 15/4/19....5 weeks...you also have Galaxy and their backer Hunch Ventures who have strong governmental , corporate and industry connections who have carried out extensive technical and legal due diligence on Panthera's rightful claim and are investing $1.25m into the project... $250k already received last month and another $250k scheduled this month which indicates supreme confidence in a successful outcome...Galaxy also plan to list on the Bombay Stock Exchange to ensure Bhukia is open to Indian investors and so no doubt there will be plenty with influence who will already be taking up positions to ensure a successful outcome...and with only 67.6m shares with 36.3% not in public hands and a tiny market cap..a positive outcome will see this fly....Gla holders...On and Up!!! :-)

Proactive Investors

Panthera Resources investee company secures £1mln of investment and acquires German asset

Share 

07:57 08 Mar 2019

Anglo Saxony Mining will use the cash investment to push on with a pre-feasibility study

The company's flagship Tellerhäuser project is in Germany

Panthera Resources PLC (LON:PAT) said investee company Anglo Saxony Mining has secured £1mln of investment from Baker Steel.

The cash will allow it to push on with a pre-feasibility study of its flagship Tellerhäuser project, an undeveloped tin deposit in Germany, after a successful round of pilot plant test-work.

In the same announcement, it was revealed the privately-run business has agreed to buy the Gottesberg tin asset, some 28-kilometres from Tellerhäuser in an all-share deal.

Panthera, which is focused on gold exploration and development in India and West Africa, owns 17.2% of Anglo.

There's plenty of listed explorers with market caps approaching £100m and more , but very few with the same prospects anywhere close to Panthera's. Gla holders:-)

Only 67.6m shares with 36.3% not in public hands, and so only 43m shares in the market with the majority tightly held for near term transformational upside on permit approval for their Indian world class gold prospect ( High Court hearing only 5 weeks away...More news expected from Panthera's West African , Mali and Burkino Faso gold prospects in the coming weeks, as well as the imminent second $250k cash payment from Galaxy....and another $750k from Galaxy and £1.5m cash from Panthera's strategic investor, Republic Investors, by the time all approvals are in place for Bhukia, and then potential considerable added value from Galaxy's planned listing on the Bombay Stock Exchange, that will incorporate Panthera's Indian subsidiary, Indo Gold and open up Bhukia to the Indian market and investors......Gla Holders....Panthera's current £6m market cap, just on Bhukia's 6m plus oz resource target offers breathtaking upside if all goes to plan...On and UP!!! ;-)

Panthera Resources Plc

("Panthera" or "the Company")

Anglo Saxony Mining - Shareholder Update

Panthera Resources plc (AIM: PAT), the gold exploration and development company with assets in India and West Africa, also holds a 17.2% interest in Anglo Saxony Mining ("ASM").

ASM is a privately held European exploration and development company with its flagship project being Tellerhäuser, an undeveloped tin deposit in Germany. Panthera has recently received a shareholder update from ASM outlining the successful metallurgical pilot plant test-work, receipt of an additional £1.0 million from Baker Steel and acquisition of a second globally significant tin resource, the text of which is set out below:

Funding

Anglo Saxony Mining Ltd (ASM) is pleased to announce that it has received from Baker Steel Resources Trust (BSRT) the third tranche of the convertible note loan, comprising an additional £1,000,000.  These funds will now but used to complete the on-going pre-feasibility study for Tellerhauser.

This investment was dependent upon positive results of the Pilot Plant test work and the commercial test work being conducted by ALS in Tasmania.  These results have been even better than the ASM technical team anticipated and prove that the mineralisation can be successfully processed into a saleable tin concentrate.  This is in contrast to the previous test work conducted during the 1970s and 1980s by a joint Soviet/GDR joint venture which suggested that only a low grade, unsaleable concentrate could be produced, and confirms the revised geological and mineral processing interpretations of the ASM technical team.

ASM is very pleased with the results of the test work to date and will continue to refine this work to maximise the economic benefits and design an effective processing facility.

Additional technical details will be reported in the next newsletter once all results have been received and assessed.

Gottesberg:

An agreement to purchase the Gottesberg tin deposit, approximately 28km west of our flagship Tellerhäuser tin deposit, has been reached with Tin International AG, and the transfer of the licence has been approved by the Mines Authority in Saxony.  Consideration is a mix of cash and ASM shares.

The proximity of this deposit to our Flagship Tellerhäuser deposit, combined with its large resource base, higher grade zones, and excellent mineral processing characteristics mean significant synergies exist for combining these two deposits into a single integrated tin operation in Saxony.

This is an excellent development and gives ASM several operating and development options, as well as doubling its existing tin resource base.

Galaxy's second $250k payment scheduled before end of month, and only 5 weeks to the all important High Court hearing......considerable upside on the rightful award of the World Class Bhukia gold prospect and its 6m plus oz resource target. Gla Holders...Exciting times ;-)

Rajasthan High Court Principal Seat Jodhpur
Case DetailsCase Type : CW
Filing Number: 36276/2018Filing Date: 01-09-2018
Registration Number: 13521/2018Registration Date: 05-09-2018
CNR Number: RJHC01-060720-2018

Case Status
First Hearing Date
:

Next Hearing Date
: 15th April 2019

Stage of Case
: ORDERS / APPLICATION

Coram
: 1635
Bench
: Single Bench
State
: RAJASTHAN
District
: Banswara
Judicial
: M/B WRIT SECTION
Causelist Name
: Daily

Petitioner and Advocate1) METAL MINING INDIA PVT. LTD.

Advocate- VIKAS BALIA DINESH PAL SINGH CHARAN,ASHOK CHOUDHARY,PRAMOD VYAS

Respondent and Advocate1) STATE OF RAJASTHAN

2) DIRECTOR

3) UNION OF INDIA

https://services.ecourts.gov.in/ecourtindiaHC/cases/ki_petres.php?state_cd=9&dist_cd=1&court_code=2&stateNm=Rajasthan#