Business
Fulcrum Metals: Saskatchewan Uranium Update
Fulcrum Metals: Saskatchewan Uranium Update.
About this update from Panther Metals Plc
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN OR INTO AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, THE UNITED STATES OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION\n\n\n\n\nFOR IMMEDIATE RELEASE\n\n\n\n\n\n\n\nPANTHER METALS PLC\n(\"Panther\" or the \"Company\")\n(Incorporated in the Isle of Man with company number 009753V)\n27 November 2023\nFulcrum Metals: Saskatchewan Uranium Update\n\n \nPanther Metals PLC (LSE:PALM) the company focused on mineral exploration in Canada, is pleased to note the Fulcrum Metals PLC (\"Fulcrum\", LON: FMET) announcement providing an update on its uranium exploration assets, including a significant increase in total area under licence/option from 184.5km2 to 593.1km2, for its Charlot-Neely Lake, Fontaine Lake, Snowbird and South Pendleton projects in the province of Saskatchewan, Canada.\nPanther currently holds a total of 9,971,839 ordinary shares in Fulcrum representing a 19.99% interest in the entire issued share capital of Fulcrum, plus 714,286 warrants exercisable at 17.5p with a two-year life from 14 February 2023 and a further 476,190 warrants exercisable at 26.25p with a three-year life. Panther also retains a 2% net smelter return (\"NSR\") royalty over the Big Bear Project.\nFulcrum Announcement Highlights\n· Fulcrum has increased its Saskatchewan uranium footprint by a potential 221% from 18,468 hectares (184.5km2) to 59,310 hectares (593.1km2) through a combination of direct claim staking and an option agreement.\n \n· Fulcrum has entered into an option agreement (the 'Agreement') to acquire 11,480 hectares (114.81km2) across three uranium properties at Snowbird, South Pendleton and Charlot West from independent local prospectors. The Agreement has a close date of 30 June 2024, Fulcrum has paid C$5,000 in cash immediately, with C$60,000 payable in either cash or equity upon exercise of the Agreement. The optioned properties have total work requirements of C$57,073 through to the end of 2024 and are subject to a retained 2% net smelter return royalty.\n \n· The total cost of claim staking was C$17,889, there are no work requirements until October 2025.\n \n· Th...