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17 Apr 2019 | 13:12

Panthera Resources sees possible deferral of key India court case

Panthera Resources said a court case regarding the future of its activities in India could be deferred until after the completion of elections.

The High Court of Rajasthan had deferred a pending case to an as yet unspecified later date.

'It is possible that this case will be heard prior to the completion of the current elections, and if this occurs, we anticipate it will be further deferred until such time as the new government is decided and both the government and the administration begin to return to normal operations,' the company said.

Indian elections were announced on 12 March and commenced on 11 April. They would continue through 19 May with results to be known on 23 May.

'As previously noted, once elections are announced in India, election rules prevent the incumbent government from enacting any meaningful legislation or making significant decisions and it is usual for the Courts to follow similar protocols,' Panthera said.

'In the meantime, our very strong stay order remains in place and protects the rights of the joint venture over the entire area of the prospecting licence application.'

At 1:12pm: (LON:PAT) Panthera Resources Plc Ord 1p share price was -2p at 8.75p

Story provided by StockMarketWire.com
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