Business
Interim Results - Six months ended 30.09.2019
Interim Results - Six months ended 30.09.2019.
About this update from Panthera Resources Plc
[{"type":"text","content":"\n \nRNS Number : 7919X Panthera Resources PLC 23 December 2019 \n\n23 December 2019\n \nPanthera Resources PLC\n(\"Panthera\" or \"the Company\")\n \nInterim Results - Six months ended 30 September 2019\n \nPanthera Resources PLC (AIM: PAT), the gold exploration and development company with key assets in India and West Africa, is pleased to announce its unaudited interim results for the half year ended 30 September 2019.\nHighlights\n· Earnings for the reporting period was a loss of $659,348 or $0.01 per share. This was an improvement on the previous corresponding period loss of $1,106,883 or $0.02 per share. The improvement resulted from efforts to reduce the company's overall cost base and lower levels of expensed exploration expenditures.\n· Government of Rajasthan (GoR) finally filed its response to Metal Mining India Pvt Ltd's (MMI's) writ petition. The rejoinder has now been filed on behalf of MMI and all documents therefore lodged with the Hon'ble High Court of Rajasthan (Court) and the case is now ready for a final hearing.\n· MMI was granted an interim stay order by the Court, which fully protects our rights to the project area.\n· The Labola Project in Burkina Faso was acquired. Labola hosts evidence of mineralisation over at least 7km of mineralised structures known to extend for 9km strike and hosts a previously identified resource which was estimated at approximately 600,000 ounces of contained gold averaging (approximately) 1.2g/t Au.\n· The final instalment of the first tranche of Galactic Gold Pvt Ltd's (Galaxy) investment in Indo Gold Pty. Ltd (IGL) was received and Galaxy now holds a 5% interest in IGL, resulting in Panthera holding an effective 66.5% stake in the Bhukia Joint Venture Project (Bhukia).\n· Tranche 3 of the Republic Investment Management (Republic) financing agreement was restructured to bring forward £500,000 at £0.10 per share and align pricing for the remainder of the tranche with the market prevailing at the time.\n· Following up on the gold mineralised drill intercepts that were returned from drilling at the Naton project in Burkina Faso, further ...