Business
Audited Financial Results and Management Update
Audited Financial Results and Management Update.
About this update from Panthera Resources Plc
[{"type":"text","content":"\n \nRNS Number : 3053J Panthera Resources PLC 16 August 2019 \n\n16 September 2019\n \nPanthera Resources Plc\n \n(\"Panthera\" or \"the Company\")\n \nAudited Financial Results and Management Update for the 12 Months Ended March 31, 2019\n \nPanthera Resources PLC (AIM: PAT), the gold exploration and development company with assets in India and West Africa, is pleased to provide a summary of the Company's audited financial results for the year ended March 31, 2019. \n \nHighlights of the Year\n \nThe Bhukia Joint Venture (JV) project in Rajasthan, India is targeted for a +6.0Moz resource drill-out\n \n• A high value partnership has been established with Galactic Gold Mining Pvt Ltd (Galaxy) that is designed to align Indian capital with the success of the JV and bring increased Indian business and operational capabilities to advance Panthera's Indian capabilities. \n \n• A JORC-Inferred Mineral Resource of 1.74Moz exists, with a planned exploration programme that targets increasing this to over 6.0Moz. \n \n• The JV's Prospecting Licence Application (PLA) was rejected by the Government of Rajasthan (\"GoR\") in August 2018 on various spurious grounds, forcing the JV to challenge the rejection order in court to protect its legal rights and the interests of its shareholders. \n \n• The Hon'ble High Court of Rajasthan passed an interim Stay Order protecting the legal rights of the JV by restraining the GoR from granting third party rights within the entire area of the PLA. Court proceedings are ongoing and the JV is confident of getting a favourable judgment once all pleadings are complete. \n \n• Following the Rajasthan State and Indian General Elections, the JV has reopened negotiations with the GoR towards the grant of the PL over the Bhukia Gold Project. \...