REG - Panthera Resources - Arbitration Financing Update

Panthera ResourcesAnnouncement

01/06/2023 07:00

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RNS Number : 3201B  Panthera Resources PLC  01 June 2023

1 June 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.

 

On 2 May 2023, the Company announced, amongst other matters, that it had
agreed to a one-month extension to 31 May 2023 to allow LCM to complete its
detailed due diligence (the "LCM Due Diligence"). While the Company is pleased
to report that all the third-party experts have recently tabled their due
diligence findings, the Company has agreed to a further extension to the LCM
Due Diligence period to 30 June 2023 to consider these findings.  The Company
does not expect a further extension of the due diligence period.

 

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.

 

In addition to pursuing a potential claim against the Republic of India for
breaches of its obligations under the Australia-India Bilateral Investment
Treaty, the Company continues to pursue an amicable resolution of the dispute
and the grant of the Bhukia Prospecting Licence.  In this regard, the Company
remains in advanced discussions with a potential joint venture partner pending
the resolution of the LFA.

 

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 28(th) 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
(https://twitter.com/PantheraPlc)

 

For more information and to subscribe to updates visit: pantheraresources.com
(http://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**

 

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