Business
Anglo Saxony Mining Ltd - Shareholder Update
Anglo Saxony Mining Ltd - Shareholder Update.
About this update from Panthera Resources Plc
[{"type":"text","content":"\n \nRNS Number : 2388S Panthera Resources PLC 08 March 2019 \n\n \n \nPanthera Resources Plc\n(\"Panthera\" or \"the Company\")\nAnglo Saxony Mining - Shareholder Update\nPanthera Resources plc (AIM: PAT), the gold exploration and development company with assets in India and West Africa, also holds a 17.2% interest in Anglo Saxony Mining (\"ASM\").\nASM is a privately held European exploration and development company with its flagship project being Tellerhäuser, an undeveloped tin deposit in Germany. Panthera has recently received a shareholder update from ASM outlining the successful metallurgical pilot plant test-work, receipt of an additional £1.0 million from Baker Steel and acquisition of a second globally significant tin resource, the text of which is set out below:\nFunding\nAnglo Saxony Mining Ltd (ASM) is pleased to announce that it has received from Baker Steel Resources Trust (BSRT) the third tranche of the convertible note loan, comprising an additional £1,000,000. These funds will now but used to complete the on-going pre-feasibility study for Tellerhauser.\nThis investment was dependent upon positive results of the Pilot Plant test work and the commercial test work being conducted by ALS in Tasmania. These results have been even better than the ASM technical team anticipated and prove that the mineralisation can be successfully processed into a saleable tin concentrate. This is in contrast to the previous test work conducted during the 1970s and 1980s by a joint Soviet/GDR joint venture which suggested that only a low grade, unsaleable concentrate could be produced, and confirms the revised geological and mineral processing interpretations of the ASM technical team.\nASM is very pleased with the results of the test work to date and will continue to refine this work to maximise the economic benefits and design an effective processing facility.\nAdditional technical details will be reported in the next newsletter once all results have been received and assessed.\nGottesberg:\nAn agreement to purchase the Gottesberg tin deposit, approximately 28km west of our flagship Tellerhäuser tin deposit, has been reached with Tin International AG, and the transfer of the licence has been approved by the Mines Authority in Saxony. Consideration is a mix of cash and ASM shares.\nGottesberg ...