Panthera Resources PLC Completion of Kalaka Sale (5074N)
February 01 2021 - 2:00AM
UK Regulatory
TIDMPAT
RNS Number : 5074N
Panthera Resources PLC
01 February 2021
1 February 2021
Panthera Resources Plc
(Panthera or the Company)
Completion of Kalaka Sale
Panthera Resources Plc (AIM: PAT), the diversified gold
exploration and development company with assets in West Africa and
India, is pleased to announce that the sale of the Kalaka Project
(Kalaka) to Moydow Holdings Ltd (Moydow) has now been
completed.
Background
On 22 July 2020, Panthera announced that it has entered into a
conditional sale and purchase agreement (Agreement) to divest its
interests in the Labola gold project in southwest Burkina Faso and
the Kalaka gold project in southwest Mali to Moydow.
With the transfer of Kalaka now completed, Panthera is entitled
to receive the remainder of the deferred consideration (US$60,000)
and refund to Panthera the 2H 2020 historical costs on Kalaka
forecast at US$115,000. Furthermore, Panthera is entitled to
receive 0.5 million shares in Moydow increasing its ownership
interest in Moydow to 46.2%. The consideration is anticipated to be
received shortly.
Contacts
Panthera Resources PLC
Mark Bolton (Managing Director) +61 411 220 942
contact@pantheraresources.com
Allenby Capital Limited (Nominated Adviser & Broker) +44 (0) 20 3328 5656
John Depasquale / Asha Chotai (Corporate Finance)
Guy McDougall (Equity Sales)
Financial Public Relations
Vigo Communications Ltd +44 (0)20 7390 0230
Simon Woods / Chris McMahon
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UK Market Abuse Regulation ( UK MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of UK
MAR until the release of this announcement.
Forward-looking Statements
This news release contains forward-looking statements that are
based on the Company's current expectations and estimates.
Forward-looking statements are frequently characterised by words
such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate", "suggest", "indicate" and other similar
words or statements that certain events or conditions "may" or
"will" occur. Such forward-looking statements involve known and
unknown risks, uncertainties, and other factors that could cause
actual events or results to differ materially from estimated or
anticipated events or results implied or expressed in such
forward-looking statements. Such factors include, among others: the
actual results of current exploration activities; conclusions of
economic evaluations; changes in project parameters as plans
continue to be refined; possible variations in ore grade or
recovery rates; accidents, labour disputes, and other risks of the
mining industry; delays in obtaining governmental approvals or
financing; and fluctuations in metal prices. There may be other
factors that cause actions, events, or results not to be as
anticipated, estimated, or intended. Any forward-looking statement
speaks only as of the date on which it is made and, except as may
be required by applicable securities laws, the Company disclaims
any intent or obligation to update any forward-looking statement,
whether as a result of new information, future events, or results
or otherwise. Forward-looking statements are not guarantees of
future performance and accordingly, undue reliance should not be
put on such statements due to the inherent uncertainty therein.
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