Source - LSE Regulatory
RNS Number : 7048E
Panthera Resources PLC
03 July 2023
 

3 July 2023

 

Panthera Resources Plc

("Panthera" or "the Company")

 

Arbitration Financing Update

 

Gold exploration and development company Panthera Resources Plc (AIM: PAT), with assets in West Africa and India, provides an update on Indo Gold Pty Ltd's conditional arbitration funding agreement (AFA) for up to US$10.5 million in litigation financing with LCM Funding SG Pty Ltd (LCM), as originally announced by the Company on 28th February 2023.

 

Most recently, on 1 June 2023 the Company announced, amongst other matters, that it had agreed to an extension to 30 June 2023 to allow LCM to complete its detailed due diligence (the "LCM Due Diligence").  While the Company previously did not anticipate a further extension of the due diligence period, the Company confirms that it has agreed to a further extension to the LCM Due Diligence period to 14 July 2023.

 

Following the successful completion of LCM Due Diligence, the parties can then move to complete a Funding Confirmation Notice.  There can be no assurance that LCM's due diligence will be completed to LCM's satisfaction.  

 

Unless otherwise defined herein, the capitalised defined terms used in this announcement have the same meaning as those used in the Company's announcement on 28th February 2023.

 

Contacts

 

Panthera Resources PLC

Mark Bolton (Managing Director)                                                                              +61 411 220 942

                                                                                                            contact@pantheraresources.com

 

Allenby Capital Limited (Nominated Adviser & Joint Broker)             +44 (0) 20 3328 5656

John Depasquale / Vivek Bhardwaj (Corporate Finance)

Kelly Gardiner / Stefano Aquilino (Sales & Corporate Broking)

                                                                                                                                                                               

Novum Securities Limited (Joint Broker)                                                      +44 (0) 20 7399 9400

Colin Rowbury                                                                                                                                                  

 

Subscribe for Regular Updates

 

Follow the Company on Twitter at @PantheraPLC

 

For more information and to subscribe to updates visit: pantheraresources.com

 

UK Market Abuse Regulation (UK MAR) Disclosure

The information contained within this announcement is deemed by the Company to constitute inside information for the purposes of Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310. Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

 

Forward-looking Statements

This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterised by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly, undue reliance should not be put on such statements due to the inherent uncertainty therein.

 

**ENDS**

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCGXGDRIBGDGXX
Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account. AJ Bell logo

Related Charts

Panthera Resources PLC (PAT)

0p (0.00%)
delayed 15:57PM