- Panther Metals (PNT) began trading on the ASX on December 10 following a $5 million initial public offering (IPO)
- Under the IPO, 25 million fully-paid ordinary shares were issued at 20 cents each, capitalising the company at $10.9 million
- Panther’s portfolio includes projects in WA and the Northern Territory, with the company set to use roughly 48 per cent of the IPO funding to explore its WA projects
- The company is led by Daniel Tuffin as CEO and Managing Director and Dr Kerim Sener as Non-Executive Chairman
- Shares in Panther are down 2.50 per cent on the market and are trading at 19.5 cents
Panther Metals (PNT) began trading on the ASX on December 10 following a $5 million initial public offering (IPO).
Under the IPO, 25 million fully-paid ordinary shares were issued at 20 cents each, capitalising the company at $10.9 million.
Panther’s portfolio includes projects in Western Australia and the Northern Territory, with the company set to use roughly 48 per cent of the IPO funding to explore its WA projects.
WA Projects
The Coglia Nickel-Cobalt Project lies in the Laverton region of Western Australia and is highly prospective for nickel-cobalt laterite mineralisation.
Panther plans to begin a 4000-metre infill drilling program almost immediately to upgrade the exploration target of 30 to 50 million tonnes.
The Merolia Project contains land over some of the area’s most prospective and underexplored ground, with four major targets identified.
Immediate drilling has been planned for three of the targets, with the fourth to be drilled shortly after.
The Red Flag Nickel Sulphide Project lies within the prolific nickel-cobalt belt 25 kilometres west of Laverton.
It consists of two separate areas with Panther to undertake an aeromagnetic survey and reverse circulation to better define potential nickel targets.
The company will then undertake reverse circulation drilling in the southern area.
Northern Territory
Panther holds two projects in the Northern Territory, both of which are prospective for gold mineralisation.
The company plans to carry out field mapping and reverse circulation drilling at the Annaburroo and Marrakai gold projects.
Corporate
Panther is led by Daniel Tuffin as CEO and Managing Director and Dr Kerim Sener as Non-Executive Chairman.
Mr Tuffin is pleased with the success of the IPO and to list on the ASX.
“Panther is extremely pleased with its IPO capital raising, which enables the rapid progression of exploration on our 100-per cent-owned Western Australian and Northern Territory nickel and gold projects,” he commented.
“The company has budgeted for an extensive exploration program over the coming two years and will commence drilling soon after listing.
“We have an exciting future, and we look forward to updating you with drilling results in the near term.”
Shares in Panther were down 2.50 per cent on the market and were trading at 19.5 cents at 3:19 pm AEDT.