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FOR IMMEDIATE RELEASE |
PANTHER METALS PLC
("Panther" or the "Company")
(Incorporated in the Isle of Man with company number 009753V)
1 November 2023
Appointment of Directors, Grant of Options and PDMR Notification
The board of directors ("Board" or "Directors") of Panther Metals plc (LSE: PALM) is pleased to announce the appointments of Katherine O'Reilly and Tracy Weslosky as non-executive directors of the Company. These appointments follow the resignation of Mitchell Smith, the Chief Operations Officer of the Company and Kate Asling, a non-executive director of the Company. The resignations took effect on 31 October 2023 and the subsequent appointments of Katherine O'Reilly and Tracy Weslosky take effect today, 1 November 2023.
Darren Hazelwood, Chief Executive Officer, commented:
"To deepen the strength on the Board I am pleased to announce the appointment of Katherine (Katie) O'Reilly and Tracy Weslosky.
Katie is a United Kingdom based qualified accountant and highly experienced Corporate Finance professional with a strong background in business strategy, finance and control across multiple sectors in both public and private companies.
Tracy has similarly enjoyed a successful career in capital markets and has extensive experience in equity fundraising and investor relations in Canada. Based in Toronto, Tracy co-founded Critical Minerals Institute (CMI) which is dedicated to the use of critical minerals in a decarbonised economy.
We look forward to having their expertise on the Board.
I offer my heartfelt thanks to Kate and Mitchell for their support, guidance and integrity in building Panther into the successful company we are today, and we wish them continued success in their other endeavours".
In accordance with Listing Rule 9.6.13(1):
Director | Current directorships | Former directorships in the last 5 years |
Katherine O'Reilly | Project Rio Topco Limited; Project Rio Midco 1 Limited; Project Rio Midco 2 Limited; Project Rio Bidco Limited; Jungle Creations Limited; Future Food Brands Limited; Project Rio EBT Trustee Limited; Mining Analyst Consulting Limited; O'Reilly Capital Holdings; Treasure Island Resources Limited; and 21/21A Thirsk road Management Company Limited | N/A |
Tracy Weslosky | N/A | dynaCERT Inc. |
In relation to the appointment of Katherine O'Reilly and Tracy Weslosky, there is no additional information required to be disclosed in accordance with Listing Rules 9.6.13 (2) - (6).
In addition to the appointments, the Company today announces that Katherine O'Reilly and Tracy Weslosky have been granted the following Options:
Name | Number of New Options Granted | Exercise Price per Ordinary Share (pence) | Total Options Held Following This Grant |
Katherine O'Reilly | 600,000 | 6 | 600,000 |
Tracy Weslosky | 600,000 | 6 | 600,000 |
Following these Options, the Company has granted options over an aggregate of 7,500,000 ordinary shares.
Set out below is the information required by Article 19(3) of the EU Market Abuse Regulation No 596/2014:
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Katherine O'Reilly | |
2 | Reason for the notification | ||
a) | Position/status | Non-Executive Director | |
b) | Initial notification/Amendment | Initial notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | Panther Metals plc | |
b) | LEI | 213800FE9904CN3DJU27 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
a) | Description of the financial instrument, type of instrument Identification code | Share Options ISIN of ordinary shares: IM00BKDM2T52 | |
b) | Nature of transaction: | Share options grant | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
6 pence | 600,000 share options | ||
Aggregated information - Aggregated volume - Exercise Price |
600,000 6 pence | ||
d) | Date of the transaction | 1 November 2023 | |
e) | Place of the transaction | Outside of a trading venue | |
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Tracy Weslosky | |
2 | Reason for the notification | ||
a) | Position/status | Non-Executive Director | |
b) | Initial notification/Amendment | Initial notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | Panther Metals plc | |
b) | LEI | 213800FE9904CN3DJU27 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
a) | Description of the financial instrument, type of instrument Identification code | Share Options ISIN of ordinary shares: IM00BKDM2T52 | |
b) | Nature of transaction: | Share options grant | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
6 pence | 600,000 share options | ||
Aggregated information - Aggregated volume - Exercise Price |
600,000 6 pence | ||
d) | Date of the transaction | 1 November 2023 | |
e) | Place of the transaction | Outside of a trading venue | |
For further information please contact:
Panther Metals PLC:
Darren Hazelwood, Chief Executive Officer: +44 (0)1462 429 743
Brokers:
Tavira Financial Limited
Christopher James Kipling +44 (0)20 3833 3743
SI Capital Limited
Nick Emerson +44 (0)1438 416 500
Notes to Editors
Panther Metals PLC is an exploration company listed on the main market of the London Stock Exchange. Panther is focussed on the discovery of commercially viable mineral deposits. The Company's operational focus is on established mining jurisdictions with the capacity for project scalability. Drill targets are assessed rapidly utilising a combination of advanced technologies and extensive geological data to decipher potential commercial viability and act accordingly. Panther's current geological portfolio comprises of three highly prospective properties in Ontario, Canada while the developing investment wing focuses on the targeting of nickel and gold in Australia.
Obonga Project
Panther Metals acquired the Obonga Greenstone Belt in July 2021 and have already identified five prospective primary targets: Wishbone, Awkward, Survey, Ottertooth and Silver Rim. A successful Phase 1 drilling campaign at Wishbone in Autumn 2021 revealed the presence of significant VMS-style mineralised systems on the property - the first such discovery across the entire greenstone belt. Intercepts include 27.3m of massive sulphide in hole one, and 51m of sulphide-dominated mineralisation in hole two. Both drill holes contained multiple lenses. Anomalous high-grade copper in lake sediment close to the target area has also been identified, increasing confidence in the prospectivity of the location.
Awkward is a highly anomalous magnetic target, interpreted to be a layered mafic intrusion and magmatic conduit based on mapped geology and airborne geophysics. Historic sampling in the area returned anomalous platinum and palladium (Pt, Pd) values, while historic drilling on the periphery of the target intersected non-assayed massive sulphide and copper (assumed to be chalcopyrite), non-assayed disseminated pyrite and chalcopyrite in coarse gabbro, and non-assayed 'marble cake' gabbro (matching the description of the Lac des Iles Mine varitexture gabbro ore zone).
Two additional named targets, Survey and Ottertooth, both displays further coincident magnetic and electromagnetic anomalies and are adjacent to the contact between intrusive and extrusive mafic rocks. Historic drilling at Survey intersected several meters of massive sulphides in multiple intersections (main parts of the anomaly remain untested) while Ottertooth remains untested in its entirety.
Dotted Lake Project
Panther Metals acquired the Dotted Lake Project in July 2020, it is situated approximately 16km from Barrick Gold's renowned Hemlo Gold Mine. An extensive soil programme conducted in 2021 identified numerous gold and base metal targets, all within the same geological footprint. Following the installation of a new trail providing direct access to the target location, an initial drilling programme in Autumn 2021 confirmed the presence of gold mineralisation within this system with anomalous gold continuing along strike and present within the surrounding area.
Manitou Lakes Project
The Manitou Lakes gold project is located approximately 300km's east of Thunder Bay, Ontario and covers a total area of around 98sq km's.
There are over 200 known gold occurrences on the Manitou Lakes project area with the wider Eagle/Manitou Lakes greenstone belt hosting numerous historic gold producers and is prospective for Archean age orogenic gold and associated base metal deposits.
Exploration work conducted by Shear Gold on the Project to date has identified numerous gold bearing structures and favourable geological host rocks through early-stage mapping and surface sampling. The work has focussed on two target areas, being the West Limb Gold Property and the Glass Reef Gold Property, both of which host historic gold mines which have never been systematically explored using modern techniques or drill tested
Fulcrum Metals Plc
Fulcrum Metals PLC (LON: FMET) is an AIM listed exploration company which finances and manages exploration projects focused on Canada, widely recognised as a top mining jurisdiction.
FMET currently holds a beneficial 100% interest in highly prospective gold and base metals projects in Ontario and Uranium projects in Saskatchewan.
Fulcrum's strategy is to focus on discovery and commercialisation of its Projects through targeted exploration programmes. The primary focus is to make an economic discovery on the flagship Schreiber-Hemlo Properties and establishing the prospectivity of its wider Ontario and Saskatchewan portfolio with a view to securing potential joint venture and/or acquisition interest.
Panther Metals Plc own 20% of the issued share capital of Fulcrum Metals Plc and a 2% NSR on the Big Bear project.
Panther Metals Australia
Following the listing of Panther Metals' Australian assets on the Australian Securities Exchange ("ASX") in December 2021. The ASX listing has provided the Australian projects with the necessary capital to advance drill-ready targets focused on nickel and gold (within the Tier 1 Mining Districts of Laverton WA and in the NT). Through this spin-out Panther holds an attractive investment prospect, without any disruption to the Company's capital structure and without any financial obligations.
Conclusion
Panther Metals understand that the commercial realities of building an exploration company requires expertise in geology, finance, and the markets within which they operate. The Company's extensive network of industry leaders allows it to meet these objectives. Ultimately however, drilling success is the only route to discovery: the fundamental objective of any exploration company. Once Panther's world-class geological team identify the anomalies, they work hard to get drilling. The drill hole is the only place where substantial and sustained capital growth originates and it's with that operational focus Panther Metals will continue to advance.