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Those 11.8 million options at 6.7p raises nearly £1 million for PAT

29 March 2023

Panthera Resources Plc

("Panthera" or "the Company")

Equity Financing

Panthera Resources plc (AIM: PAT), the gold exploration and development company with assets in India and West Africa, is pleased to announce that it has arranged an equity capital fundraise with new and existing investors for approximately £1,005,150 (before expenses) by way of a placing and subscription (the "Placing" and the "Subscription" respectively) (together the "Equity Financing") of a total of 23,650,590 ordinary shares of 1 pence each in the Company (the "New Ordinary Shares") at a price of 4.25 pence per new Ordinary Share (the "Placing Price"). Novum Securities Limited ("Novum") are acting as brokers in connection with the Placing (the "Broker").

Details of the Equity Financing

The Equity Financing comprises a placing of 4,235,294 New Ordinary Shares (the "Placing Shares") and a subscription of 19,415,296 New Ordinary Shares (the "Subscription Shares") at the Placing Price. The Equity Financing has been conducted as a private placement and subscription under the Company's existing allotment and pre-emption disapplication authorities and participation has not been made available to members of the public. The Equity Financing is conditional, inter alia, on admission of the New Ordinary Shares to trading on AIM ("Admission") becoming effective.

By buying/converting those options shows several things

1. It's $ incoming to PAT it's a cash windfall

2. It shows belief none takes up their option rights UNLESS THEY EXPECT THIS TO GO HIGHER

3. There is a chance they're taking up the option and selling them straight back but I don't see this SO MORE LIKELY there was limited liquidity they're taking the options to then be able to create a market

It's a VERY GOOD HEALTHY SIGN IMO

1.5 million options converted today alone it looks lije

They're options trades from March placement imo

Think there were 11,825295 options with the placing back in March at 6.68p

So there's a 40% profit or so in it for whoever took up the placing

Almost certainly that's what these trades are nearly 2 million executed in the last few days as I see it

24331 shares

Will add some more I want to build to £25k

Agreed Vern and legal stuff is never talked about in share talk!!!!

Imo we could see continued rise throughout the rest of today

I'm happy with my 8k but probably should of loaded up on the mid morning dip when it was showing up 16% I believe

Still a very good risk reward play and that is what will drive this over coming weeks

GLA

After considerable delays on due diligence I suspect Fasken and PAT have a clear legal plan and they will be very ready to proceed.

So expect the the legal draft is ready to send

The next two weeks will get real very fast imo

Churchill was coal at a time when with the feeling against fossil fuels was intense. No one wants coal.

PAT is very different imo

Wow I am RARELY HAVE I EVER BEEN SOO PLEASED TO BE PROVED WRONG!

This is going to get real very soon then good luck to us all I'm hoping my £8k original investment will see a decent return!

No RNS tomorrow and another delay come tuesday

7% down does not indicate a lovely result.....

Insiders always know it's why they're insiders I'm not feeling this!

Down 3.5% feeling miffed

Deck 100% spot on agree with you

These delays are getting tedious seen them many times before on other firms.

The share price is stuck

Frankly although I'm invested I'm not feeling excited I'm feeling more can kicking and bluff

But let's see I'm in so will stick it out.

Well I'm fully grounded and the fact the share price is up 1.7% doesn't indicate the insiders are truly convinced this is dead cery. Otherwise friends and family would be piling in.

I'm still suspicious that LCM are and have agreed to be used as a bargaining weapon but clearly upto now it's not working.

I'm not getting too excited yet!

Nothing so far

135k buy is FAR MORE TELLING