IN BRIEF: Panthera Resources raises GBP2.8 million to help India claim
Panthera Resources PLC - London-based gold explorer and mine developer in West Africa and India - Raises GBP2.8 million from a placing and subscription of 39.6 million new shares at 7 pence each. The subscription by existing and new investors raised GBP1.9 million and the placing - conducted by Allenby Capital, VSA Capital and Novum Securities - raised the remainder. Panthera said the fresh equity will be used for general expenses and to pursue its international arbitration claim against the government of India. The claim was filed by Australian subsidiary, Indo Gold Pty Ltd, which says India breached the terms of a 1999 investment treaty signed with Australia. This relates to the Bhukia mining project in Rajasthan, for which the Indian government declined to issue a prospecting licence. Read More