JOHANNESBURG (miningweekly.com) – Gold exploration and development company Panthera Resources, with key assets in India and West Africa, started trading ordinary shares on the LSE’s Aim market on Thursday.
On admission, the company had 61.8-million at a listing price of 20p apiece, giving Panthera an estimated market capitalisation of £12.4-million on admission.
Panthera CEO Geoff Stanley noted that the listing marked an important milestone for the company. “Our listing provides the London market with a very exciting investment opportunity, particularly within our flagship Bhukia project, where we expect to define a world class, open pittable, gold-copper deposit.
“Progress on the granting of the Prospecting Licence has gathered positive momentum at both the government of India and the government of Rajasthan levels. The board is optimistic that final approvals can be obtained in the next six to 18 months,” he highlighted.
Further, Stanley pointed out that the approval of the Bhukia prospecting licence, the company’s operating focus will be geared towards our portfolio of assets in Burkina Faso and Mali.
These project areas are situated within prospective Birimian greenstone terrains with structural settings typical of where gold deposits are found. The company, with its regional connections and capabilities, is also now in a strong position to capitalise on other prospect opportunities in Burkina Faso, Mali and Ghana.
“Given the highly-experience management team and board, the secure balance sheet, as well as the great range of assets, we are confident that Panthera Resources will deliver excellent results for its shareholders and we look forward to providing the market with updates as work progresses,” said Stanley added.