TIDMPALM
RNS Number : 9511R
Panther Metals PLC
01 November 2023
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY IN OR INTO AUSTRALIA, CANADA, JAPAN,
THE REPUBLIC OF SOUTH AFRICA, THE UNITED STATES OR ANY OTHER
JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OF SUCH JURISDICTION
FOR IMMEDIATE RELEASE
PANTHER METALS PLC
("Panther" or the "Company")
(Incorporated in the Isle of Man with company number
009753V)
1 November 2023
Appointment of Directors, Grant of Options and PDMR
Notification
The board of directors ("Board" or "Directors") of Panther
Metals plc (LSE: PALM) is pleased to announce the appointments of
Katherine O'Reilly and Tracy Weslosky as non-executive directors of
the Company. These appointments follow the resignation of Mitchell
Smith, the Chief Operations Officer of the Company and Kate Asling,
a non-executive director of the Company. The resignations took
effect on 31 October 2023 and the subsequent appointments of
Katherine O'Reilly and Tracy Weslosky take effect today, 1 November
2023.
Darren Hazelwood, Chief Executive Officer, commented:
"To deepen the strength on the Board I am pleased to announce
the appointment of Katherine (Katie) O'Reilly and Tracy
Weslosky.
Katie is a United Kingdom based qualified accountant and highly
experienced Corporate Finance professional with a strong background
in business strategy, finance and control across multiple sectors
in both public and private companies.
Tracy has similarly enjoyed a successful career in capital
markets and has extensive experience in equity fundraising and
investor relations in Canada. Based in Toronto, Tracy co-founded
Critical Minerals Institute (CMI) which is dedicated to the use of
critical minerals in a decarbonised economy.
We look forward to having their expertise on the Board.
I offer my heartfelt thanks to Kate and Mitchell for their
support, guidance and integrity in building Panther into the
successful company we are today, and we wish them continued success
in their other endeavours".
In accordance with Listing Rule 9.6.13(1):
Director Current directorships Former directorships in the last 5 years
Katherine O'Reilly Project Rio Topco Limited; N/A
Project Rio Midco 1 Limited;
Project Rio Midco 2 Limited;
Project Rio Bidco Limited;
Jungle Creations Limited;
Future Food Brands Limited;
Project Rio EBT Trustee Limited;
Mining Analyst Consulting Limited;
O'Reilly Capital Holdings;
Treasure Island Resources Limited; and
21/21A Thirsk road Management Company Limited
----------------------------------------------- -----------------------------------------
Tracy Weslosky N/A dynaCERT Inc.
----------------------------------------------- -----------------------------------------
In relation to the appointment of Katherine O'Reilly and Tracy
Weslosky, there is no additional information required to be
disclosed in accordance with Listing Rules 9.6.13 (2) - (6).
In addition to the appointments, the Company today announces
that Katherine O'Reilly and Tracy Weslosky have been granted the
following Options:
Name Number of New Options Granted Exercise Price per Ordinary Total Options Held Following
Share (pence) This Grant
Katherine O'Reilly 600,000 6 600,000
------------------------------ ------------------------------- -------------------------------
Tracy Weslosky 600,000 6 600,000
------------------------------ ------------------------------- -------------------------------
Following these Options, the Company has granted options over an
aggregate of 7,500,000 ordinary shares.
Set out below is the information required by Article 19(3) of
the EU Market Abuse Regulation No 596/2014:
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Katherine O'Reilly
-------------------------------- -----------------------------------------
2 Reason for the notification
---------------------------------------------------------------------------
a) Position/status Non-Executive Director
-------------------------------- -----------------------------------------
b) Initial notification/Amendment Initial notification
-------------------------------- -----------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------
a) Name Panther Metals plc
-------------------------------- -----------------------------------------
b) LEI 213800FE9904CN3DJU27
-------------------------------- -----------------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
---------------------------------------------------------------------------
a) Description of the financial Share Options
instrument, type of instrument ISIN of ordinary shares: IM00BKDM2T52
Identification code
-------------------------------- -----------------------------------------
b) Nature of transaction: Share options grant
-------------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
-------------------------------- ------------ ---------------------------
6 pence 600,000 share options
-------------------------------- ------------ ---------------------------
Aggregated information
* Aggregated volume 600,000
6 pence
* Exercise Price
-------------------------------- -----------------------------------------
d) Date of the transaction 1 November 2023
-------------------------------- -----------------------------------------
e) Place of the transaction Outside of a trading venue
-------------------------------- -----------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Tracy Weslosky
-------------------------------- -----------------------------------------
2 Reason for the notification
---------------------------------------------------------------------------
a) Position/status Non-Executive Director
-------------------------------- -----------------------------------------
b) Initial notification/Amendment Initial notification
-------------------------------- -----------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------
a) Name Panther Metals plc
-------------------------------- -----------------------------------------
b) LEI 213800FE9904CN3DJU27
-------------------------------- -----------------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
---------------------------------------------------------------------------
a) Description of the financial Share Options
instrument, type of instrument ISIN of ordinary shares: IM00BKDM2T52
Identification code
-------------------------------- -----------------------------------------
b) Nature of transaction: Share options grant
-------------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
-------------------------------- ------------ ---------------------------
6 pence 600,000 share options
-------------------------------- ------------ ---------------------------
Aggregated information
* Aggregated volume 600,000
6 pence
* Exercise Price
-------------------------------- -----------------------------------------
d) Date of the transaction 1 November 2023
-------------------------------- -----------------------------------------
e) Place of the transaction Outside of a trading venue
-------------------------------- -----------------------------------------
For further information please contact:
Panther Metals PLC:
Darren Hazelwood, Chief Executive Officer: +44 (0)1462 429 743
Brokers:
Tavira Financial Limited
Christopher James Kipling +44 (0)20 3833 3743
SI Capital Limited
Nick Emerson +44 (0)1438 416 500
Notes to Editors
Panther Metals PLC is an exploration company listed on the main
market of the London Stock Exchange. Panther is focussed on the
discovery of commercially viable mineral deposits. The Company's
operational focus is on established mining jurisdictions with the
capacity for project scalability. Drill targets are assessed
rapidly utilising a combination of advanced technologies and
extensive geological data to decipher potential commercial
viability and act accordingly. Panther's current geological
portfolio comprises of three highly prospective properties in
Ontario, Canada while the developing investment wing focuses on the
targeting of nickel and gold in Australia.
Obonga Project
Panther Metals acquired the Obonga Greenstone Belt in July 2021
and have already identified five prospective primary targets:
Wishbone, Awkward, Survey, Ottertooth and Silver Rim. A successful
Phase 1 drilling campaign at Wishbone in Autumn 2021 revealed the
presence of significant VMS-style mineralised systems on the
property - the first such discovery across the entire greenstone
belt. Intercepts include 27.3m of massive sulphide in hole one, and
51m of sulphide-dominated mineralisation in hole two. Both drill
holes contained multiple lenses. Anomalous high-grade copper in
lake sediment close to the target area has also been identified,
increasing confidence in the prospectivity of the location.
Awkward is a highly anomalous magnetic target, interpreted to be
a layered mafic intrusion and magmatic conduit based on mapped
geology and airborne geophysics. Historic sampling in the area
returned anomalous platinum and palladium (Pt, Pd) values, while
historic drilling on the periphery of the target intersected
non-assayed massive sulphide and copper (assumed to be
chalcopyrite), non-assayed disseminated pyrite and chalcopyrite in
coarse gabbro, and non-assayed 'marble cake' gabbro (matching the
description of the Lac des Iles Mine varitexture gabbro ore
zone).
Two additional named targets, Survey and Ottertooth, both
displays further coincident magnetic and electromagnetic anomalies
and are adjacent to the contact between intrusive and extrusive
mafic rocks. Historic drilling at Survey intersected several meters
of massive sulphides in multiple intersections (main parts of the
anomaly remain untested) while Ottertooth remains untested in its
entirety.
Dotted Lake Project
Panther Metals acquired the Dotted Lake Project in July 2020, it
is situated approximately 16km from Barrick Gold's renowned Hemlo
Gold Mine. An extensive soil programme conducted in 2021 identified
numerous gold and base metal targets, all within the same
geological footprint. Following the installation of a new trail
providing direct access to the target location, an initial drilling
programme in Autumn 2021 confirmed the presence of gold
mineralisation within this system with anomalous gold continuing
along strike and present within the surrounding area.
Manitou Lakes Project
The Manitou Lakes gold project is located approximately 300km's
east of Thunder Bay, Ontario and covers a total area of around 98sq
km's.
There are over 200 known gold occurrences on the Manitou Lakes
project area with the wider Eagle/Manitou Lakes greenstone belt
hosting numerous historic gold producers and is prospective for
Archean age orogenic gold and associated base metal deposits.
Exploration work conducted by Shear Gold on the Project to date
has identified numerous gold bearing structures and favourable
geological host rocks through early-stage mapping and surface
sampling. The work has focussed on two target areas, being the West
Limb Gold Property and the Glass Reef Gold Property, both of which
host historic gold mines which have never been systematically
explored using modern techniques or drill tested
Fulcrum Metals Plc
Fulcrum Metals PLC (LON: FMET) is an AIM listed exploration
company which finances and manages exploration projects focused on
Canada, widely recognised as a top mining jurisdiction.
FMET currently holds a beneficial 100% interest in highly
prospective gold and base metals projects in Ontario and Uranium
projects in Saskatchewan.
Fulcrum's strategy is to focus on discovery and
commercialisation of its Projects through targeted exploration
programmes. The primary focus is to make an economic discovery on
the flagship Schreiber-Hemlo Properties and establishing the
prospectivity of its wider Ontario and Saskatchewan portfolio with
a view to securing potential joint venture and/or acquisition
interest.
Panther Metals Plc own 20% of the issued share capital of
Fulcrum Metals Plc and a 2% NSR on the Big Bear project.
Panther Metals Australia
Following the listing of Panther Metals' Australian assets on
the Australian Securities Exchange ("ASX") in December 2021. The
ASX listing has provided the Australian projects with the necessary
capital to advance drill-ready targets focused on nickel and gold
(within the Tier 1 Mining Districts of Laverton WA and in the NT).
Through this spin-out Panther holds an attractive investment
prospect, without any disruption to the Company's capital structure
and without any financial obligations.
Conclusion
Panther Metals understand that the commercial realities of
building an exploration company requires expertise in geology,
finance, and the markets within which they operate. The Company's
extensive network of industry leaders allows it to meet these
objectives. Ultimately however, drilling success is the only route
to discovery: the fundamental objective of any exploration company.
Once Panther's world-class geological team identify the anomalies,
they work hard to get drilling. The drill hole is the only place
where substantial and sustained capital growth originates and it's
with that operational focus Panther Metals will continue to
advance.
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