3rd Jul 2023 11:58
(Alliance News) - Panthera Resources PLC on Monday agreed to an extension to its litigation financing agreement with LCM Funding SG Pty Ltd.
The London-based gold explorer with projects in India and Africa said the financing regards Indo Gold Pty Ltd's conditional arbitration funding agreement for up to USD10.5 million in litigation financing with LCM Funding. Panthera added that it did not anticipate a further extension, it agreed to extend the agreement to next week Friday. The extension is to allow LCM to complete its detailed due diligence.
"There can be no assurance that LCM's due diligence will be completed to LCM's satisfaction," Panthera said.
Panthera Resources shares fell 18% to 6.84 pence each on Monday morning in London.
By Tom Budszus, Alliance News reporter
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