Panthera Resources (LON:PAT), the gold exploration and development company with assets in India and West Africa, provided an update on the Court case pending with the Rajasthan High Court and the recently announced financing agreement with Republic Investment Management.
MMI’s case on behalf of the Joint Venture was not heard on Friday 18 October 2019 as anticipated and was rescheduled for 22 October 2019. However, it was listed at number 221 and the Court failed to process the case, again as a result of staffing shortages. We await confirmation of a new date for the hearing and will advise the market accordingly.
Additionally, we have been advised by Republic Investment Management that the final £100k tranche of the recently announced £500k financing has been authorised for transfer to Panthera’s account. Upon receipt of those funds we will advise the market regarding settlement details.