Saturday, September 30th 2023

Panther Metals PLC

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Will Panther Metals’ shareholders be loved up after Fulcrum Metals’ Valentine’s Day IPO?


“…we have turned assets into £4m worth of value. There are multiple ways to lock in additional value for shareholders. We are not raising capital at these levels…”


Rewind to April 2022 when Panther Metals told investors it was selling its 128 mining claims known as the Big Bear gold project in Canada to Fulcrum Metals Ltd.

It was a relatively straightforward transaction with a caveat that when Fulcrum Metals listed on AIM, Panther would get a 20% stake and receive £200,000 and a 2% net smelter return royalty as consideration for the project.

At the time Panther CEO Darren Hazelwood told shareholders “At Panther we have a huge amount of faith in Big Bear and this deal supplements our existing interests in the Schreiber-Hemlo Greenstone Belt, through a listed structure at no extra capital cost to the business.”

“This deal will provide investment further upside to Panther whilst allowing the company to take advantage of other exciting opportunities elsewhere in Ontario.”

The IPO has happened and Hazelwood hopes it will draw a line under lingering investor confusion about Panther’s direction and spin out model. Remember it also holds 36.6% of the outstanding share capital of Panther Metals Australia and Hazelwood says both it and Fulcrum are incredibly value accretive.

The focus of the business remains steadfastly on Obonga.  It’s 251 kilometres of 100% owned claims incorporating Wishbone, Awkward, Survey and Ottertooth. Hazelwood says there’s never ever been an intercept found ‘of the like’ the company achieved on its recent drill programme.  The results strengthened the board’s belief that VMS’s tend to cluster and Obonga might just contain multiple volcanogenic massive sulfide ore deposits and “once you know that they’re clustering, you’re onto something in a major way.”

Listen to Darren talk to Sarah Lowther about the achievements of 2022 that have not been reflected in the share price, and why market makers pressuring Hazelwood to raise capital at current levels are picking on the wrong person as there are multiple ways to lock in value for shareholders.


Watch (below) Proactive Investor analyst Christopher Ecclestone discuss the recent research note on the company

Access the company’s Corporate Presentation

Follow the company on Twitter @PantherMetals

The author was remunerated but does not hold shares in the company