Panthera Resources “tremendous progress made over the course of the reporting period” 7:30 am
Panthera Resources PLC (LON:PAT), the gold exploration and development company with key assets in West Africa and India, has announced its unaudited interim results for the half year ended 30 September 2020.
Highlights
· Earnings for the reporting period of $2,224,437 or $0.03 per share, a substantial improvement on the previous corresponding period loss of $659,348 or $0.01 per share. The improvement resulted from the divestment of the Company’s interest in the Labola project to Moydow Holdings Limited (Moydow).
· Entered an agreement with Moydow to spinout our interests in the Labola gold project in south west Burkina Faso and the Kalaka gold project in south west Mali, whilst retaining a significant interest in Moydow.
Bassala Project (Mali) A geophysical survey comprising ground magnetics has been completed with the results expected shortly. In addition, a soil geochemical survey comprising 1,096 samples is currently underway. This survey will extend the existing sampling to the northeast, west and south. This work is designed to firm up targets for drill testing during the first half of 2021. Kalaka Project (Mali) A programme of approximately 168 line kilometres of gradient array IP surveying is currently being undertaken. The programme is designed to test the southern area of the licence, where the majority of known gold anomalism occurs. The survey includes two large areas of historical artisanal mining activity that have not previously been drill tested, several gold-in-soil geochemical anomalies, gold mineralisation intersected in previous drilling, and structural targets in areas where it is interpreted that soil geoc