Panthera Resources (LSE:PAT) announced encouraging maiden reverse circulation drilling results from the Kwademen prospect at its Bido Project in Burkina Faso, confirming previously identified gold mineralisation and delivering multiple high-grade intercepts within wider mineralised intervals. The company said these zones remain open along strike and at depth, underscoring further exploration upside.
The results follow Panthera’s completion of its earn-in, securing an 80% interest in the Bido Project, with the option to increase ownership to 100% through additional exploration expenditure. Management noted that the drilling programme was completed despite weather-related delays and technical challenges, with outcomes reinforcing the project’s potential within a well-established gold belt. The company also highlighted the strategic benefit of operating in a strong gold price environment, supported by capped royalty obligations payable to the vendor.
From a market perspective, Panthera’s near-term outlook continues to be constrained by weak financial metrics, including the absence of revenue, ongoing operating losses and continued cash outflows, albeit alongside a relatively low level of debt. Share price technicals offer moderate support, with the stock trading above longer-term moving averages and momentum indicators broadly neutral.
Valuation remains less compelling due to a negative earnings profile and the lack of dividend yield. That said, ongoing project advancement and recent improvements in liquidity provide some upside optionality, although this is balanced by residual arbitration-related risk.
More about Panthera Resources Plc
Panthera Resources Plc is a gold exploration and development company listed on AIM, with a strategic focus on advancing gold assets in West Africa and India. Its portfolio includes the Bido Project in Burkina Faso, where the company is progressing exploration activities toward potential resource definition within a highly prospective gold belt.
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