Panthera Resources’ Strategic Moves in Mali and Nigeria
Panthera Resources, a company with a focus on Africa, has announced significant changes to its ownership stakes in several mining projects in Mali and Nigeria in order to increase its exposure to gold.
The company has recently finalized agreements with DFR Gold and Maniger regarding its interest in the Kalaka gold project in southern Mali, as well as the Paimasa, Dagma, and Dext gold projects in Nigeria.
As part of the restructuring, Panthera will now have full ownership of Maniger, and its relevant stake in Kalaka will increase from 40% to 80%. The remaining 20% stake in the Mali gold asset will continue to be held by the local partner, Golden Spear Mali.
Furthermore, Panthera will no longer have any ownership in the Nigerian projects and will have to pay DFR Gold approximately $68,000 to settle inter-company loans.
Mark Bolton, the managing director of Panthera, stated that the decision to reevaluate the company’s focus on the Kalaka project was driven by a recent review of the historical database and the improved gold prices. According to Bolton, “The company has elected to expand its focus at Kalaka (…) We believe it is a significant mineralized gold system with the potential for a multi-million-ounce gold resource.”
The surge in gold prices, which have risen by 12% this year despite high inflationary conditions and uncertainty surrounding potential interest rate adjustments by the US Federal Reserve, has prompted companies to reinvigorate old projects and expand existing gold operations.
Notably, Kalaka is strategically located 80km south of the 8-million-ounce Morila gold mine and 85km northwest of Resolute Mining’s 6-million-ounce gold Syama mine, making it a highly promising area for gold exploration and development.
In conclusion, Panthera Resources’ decision to restructure its project ownership is a strategic move aimed at maximizing its exposure to gold in Africa. The company’s increased stake in the Kalaka project and its decision to focus on the potential of this mineralized gold system underscore its commitment to capitalizing on the current upward trend in gold prices.
Source: MINING.COM
