Panthera Resources Plc (LSE:PAT) has released an update on its arbitration proceedings related to its Australian subsidiary, Indo Gold Pty Ltd, in a dispute with the Republic of India. The arbitration tribunal has opted to first consider jurisdictional matters and the substance of the case before addressing the calculation of damages. Panthera has welcomed this approach, describing it as a more efficient and cost-effective process.
The case revolves around the Bhukia project, where the company claims India violated treaty obligations by refusing to grant a prospecting license. Panthera is seeking damages of approximately US$1.58 billion. While the final outcome remains uncertain, the company has secured litigation funding to support its pursuit of the claim.
From a market perspective, Panthera’s shares have shown positive momentum, although financial challenges persist. The company continues to face pressure from limited profitability and reliance on external financing, even as corporate developments point to potential future upside.
About Panthera Resources
Panthera Resources Plc is engaged in gold exploration and development, with projects located in West Africa and India. Its portfolio includes the Bhukia project in India, which is believed to hold significant gold and copper resources. The company’s strategy is focused on advancing exploration activities and unlocking the long-term value of its assets.
This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.
Leave a Reply