Share Prices & Company Research

Market News

19 Feb 2019 | 09:14

Panthera Resources initial portion of Galaxy funding

Panthera Resources said it had received an initial $250k of funding from Galactic Gold Mines Private, otherwise known as Galaxy.

Galaxy had agreed to purchase a 10% stake in Panthera's Indian subsidiary Indo Gold for $1.25m.

It could also earn additional equity by providing ongoing support and services to advance the Bhukia JV project in Rajasthan.

Galaxy agreed to purchase the 10% interest in two 5% stages.

In the first, a 5% stake was to be purchased for $500k consisting of two payments.

The payment just received was the first of two $250k payments, with the next amount due before 31 March.

The second 5% stake was due to be purchased for $750k prior to the re-commencement of exploration, now expected in mid to late 2019.

At 9:14am: (LON:PAT) Panthera Resources Plc Ord 1p share price was +1.33p at 8.7p

Story provided by
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.