Panthera Resources Announces Share Issuance from Loan Note Conversion

Panthera Resources Announces New Share Issuance

Panthera Resources Plc (AIM: PAT), a prominent gold exploration and development company active in West Africa and India, has made an important announcement regarding the conversion of unsecured convertible loan notes (CLNs). This move involves a total of US$125,000 worth of CLNs, leading to the issuance of 1,777,948 new ordinary shares, with each share valued at 1 pence.

Details of the CLN Conversion

The terms of this conversion were first outlined in a company statement. After the conversion is finalized, a matching amount of US$125,000 in unsecured convertible loan notes will still be outstanding, indicating continued financial activity within the company. The newly issued shares are set to be admitted for trading on the Alternative Investment Market (AIM) of the London Stock Exchange under the ticker symbol LON:LSEG, with trading expected to begin shortly.

Impact on Share Capital

Following the admission of the new shares into trading, Panthera's total issued share capital will increase significantly, reaching a total of 198,101,247 ordinary shares. Notably, the company will retain no shares in treasury, reflecting a straightforward share structure that investors can easily track. This share count will provide a solid reference point for shareholders when notifications regarding shareholding changes are necessary, in line with the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Future Outlook and Considerations

This action of converting notes into shares illustrates Panthera's ongoing commitment to advance its exploration and development projects. It shows the company's active participation in the evolving mining sector, where strategic financial decisions can significantly impact operations. The company also mentioned factors that may affect its future performance, hinting at potential risks commonly associated with the mining industry. These include fluctuations in ore grades, variances in recovery rates, workplace incidents, labor disputes, and delays linked to government approvals.

Understanding Risk Factors

Investors are advised to approach these forward-looking statements with caution. While these statements express Panthera's expectations about future operations, they involve inherent risks and uncertainties that could result in actual outcomes differing from projections. Market conditions and operational challenges can significantly influence performance, highlighting the dynamic nature of the industry.

Company Overview and Future Developments

As Panthera Resources continues its journey in the competitive gold exploration market, the company remains focused on leveraging its resources and expertise to enhance shareholder value. Maintaining transparency with investors is paramount, particularly as they navigate opportunities and challenges in their exploration endeavors. The issuance of these new shares marks a significant step forward in expanding their capital base, enabling further investments in exploratory and development work.

Frequently Asked Questions

What was the main announcement by Panthera Resources?

Panthera Resources announced the conversion of US$125,000 in unsecured convertible loan notes into shares, resulting in the issuance of 1,777,948 new ordinary shares.

When is the new trading expected to start?

The new ordinary shares are expected to commence trading at 8.00 a.m. on or around January 16, 2025.

What will be the total issued share capital after this conversion?

After the conversion, Panthera's total issued share capital will rise to 198,101,247 ordinary shares.

What risks does Panthera Resources face?

The company faces various risks, including fluctuations in ore grades, recovery rates, labor disputes, and delays in governmental approvals.

How can investors track shareholding changes?

Investors can track shareholding changes based on the company’s issued share capital, which will be recorded in compliance with regulatory guidelines.

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