Panther Metals plc has sold its 18,223,306 shares in Panther Metals Ltd for net proceeds of £219,000 (AUD421,328).
STRATEGY
Chief executive Darren Hazelwood said that the company’s exit was not a reflection of the Australian company.
“Our own strategy is clearly focused on making a transformative discovery on our own highly prospective portfolio, as that will bring the most benefit to our shareholders.
“To thrive in the junior exploration sector, one has to be pragmatic; it’s essential to be able to modify and adapt corporate strategies in order to best manage the interests of shareholders.
“We’ve witnessed several recent developments with the company, including the issue of the Dotted Lake drilling permit [Ontario], and it’s time to move forward.”