Panthera Resources, a prominent gold exploration and development company, has recently finalized agreements with DFR Gold and Maniger to restructure its ownership interests in the Kalaka gold project in Mali and the Paimasa, Dagma, and Dext gold projects in Nigeria.
As a result of the restructuring, Panthera will now have full ownership of Maniger, increasing its stake in the Kalaka Project from 40% to 80%. The remaining 20% interest in the Kalaka Project will be retained by Golden Spear Mali SARL, a local partner. Additionally, Panthera will be exiting its interests in the Nigerian projects as part of the reorganization.
In conjunction with the restructuring, the company will settle intercompany loans with DFR Gold for approximately $67,931, and in return, DFR Gold will acquire the Nigerian projects from Maniger for a nominal sum.
The Kalaka gold project, which is operated by Panthera, is strategically located in southern Mali, near the Morila and Syama gold mines. Panthera is confident in the potential of the Kalaka property to yield significant gold mineralization at a large scale.
Historical drilling at the K1A target has unveiled substantial mineralization widths within a broad 0.5 grams per tonne of gold mineralization envelope, signifying the project’s promising prospects. The company’s managing director, Mark Bolton, expressed excitement about the future of the Kalaka project, stating, “We believe that Kalaka is a significant mineralised gold system with the potential for a multi-million-ounce gold resource. The company believes that the strong gold price will underpin a lower grade, bulk tonnage development strategy.”
Panthera’s decision to restructure its ownership interests is a strategic move that is aligned with the company’s planned activities and long-term goals. By consolidating its ownership in key projects, Panthera aims to optimize its focus and resources to maximize the potential for substantial growth and success in the gold exploration and development sector.
The company’s commitment to leveraging improved gold prices and re-evaluating historical data demonstrates its dedication to capitalizing on opportunities in the current market environment. Panthera’s visionary approach positions it for future success and further establishes its standing as a leading player in the gold exploration and development industry.
In conclusion, Panthera Resources’ restructured ownership interests in the Kalaka gold project in Mali and the Nigerian gold projects signify a pivotal moment in the company’s strategic evolution. With a renewed focus and increased ownership in key projects, Panthera is poised to make significant strides in achieving its ambitious objectives in the gold exploration and development sector.