9th Sep 2019 17:48
(Alliance News) - Panthera Resources on Monday said it has received GBP400,000 from a financing agreement with Republic Investment Management Pte Ltd, and a further injection of GPB100,000 due to be paid soon.
Panthera said it will issue an update on the timing of the second payment "in due course".
In August, Panthera said it would receive an immediate capital injection of GBP500,000, tranche 3A of financing, by issuing Republic 5.0 million shares at 10.00 pence each.
The agreement came amid continued delays of a high court case in India the company sought after having its prospecting licence request for the Bhukia joint-venture rejected.
Tranche 3B, which entitles Panthera to a further AUD1.8 million, roughly GBP978,429, will be received once the company receives approval to recommence exploration at Bhukia.
Shares in Panthera closed 0.5% higher at 7.66 pence each in London on Monday.
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