IPO Watch: Panther units up native exploration spots with nickel-gold play

Future. Cleanliness. Luck. What would you name it, Panther Metals’ upcoming ASX IPO as a nickel and gold explorer is a narrative of twists, turns, and a few excellent mineral targets.

Have been it not for a COVID-enforced extension of stays in Australia by Dr Karim Sener, chairman of London-listed Panther Metals plc – a widely known native subsidiary (ASX: to be PNT) checklist, which just lately launched the broader ASX Has left IPO behind to shut its IPO early and oversubscribe 30% would by no means have dealt fatigue.

When the pandemic elevated in-law visits, Dr. Senor started to discover her challenge choices regionally. Over a espresso with Daniel Tuffin, co-founder and managing director of Aurelia Mining Consulting, the wheels have been set in movement.

A extremely potential portfolio was initially assembled underneath the umbrella of the mother or father firm listed in London. This consists of the Coglia and Purple Flag nickel-cobalt initiatives close to Leverton’s Tier 1 district, in addition to the Merolia and Mikado gold initiatives in the identical space.

Within the northern area, on the Pine Creek orogen, which was the topic of Dr. Senor’s doctorate, Panther Metals took over the Enaburu and Maracai gold initiatives.

Tuffin, who would be the managing director and CEO of the Australian Panther unit, informed Stockhead that the mother or father firm acknowledged the necessity to pull out its Australian belongings to present them the eye they deserved.

“The UK firm determined that it will truly see lots of worth from these belongings by having a cornerstone stake in a neighborhood firm and taking the initiatives to market-leading native specialists in Australia, who may develop and take them ahead. can go,” he mentioned. ,

As such, UK Panther Metals will maintain a 36.6% stake within the Australian-listed entity, with Dr Senner making use of his native data and experience as chairman.

The corporate’s IPO with Sanlam Personal Wealth and Kerr Allen Monetary joint lead managers was 30% oversubscribed just lately, elevating $5 million at 20c per share.

It’s anticipated to have an enterprise worth of $5.25 million upon itemizing, with no scarcity of reports flows to return.

off and working

Panther Metals Restricted plans to spend its first two years working onerous, with an in depth plan for exploration work spanning nickel and gold pursuits, and workout routines on prepared post-listing.

“With some IPOs you typically discover that it’s a must to attempt to search for the hidden jewels among the many initiatives,” Tuffin mentioned.

“On this occasion we have truly needed to prioritize sure targets as second or third, when most different floats would have their prioritizing skill – we’re spoiled for selection.”

The Panther has no scarcity of neighbors and crops in Leverton. Photograph: Equipped.

Preliminary drilling will happen on the Coglia nickel-cobalt challenge, the place a JORC compliance goal of 30–50 million tonnes at 0.6–0.8% nickel and 400–600 components per million cobalt has already been outlined.

Panther in Coglia intends to research the potential for unexplored nickel-cobalt sulfides beneath the challenge’s nickel-cobalt laterites, whereas changing the exploration goal to a JORC-compliant mineral useful resource estimate within the first half of subsequent yr.

The challenge is situated 70 km east of the street to Glencore’s Murin Murin nickel-cobalt challenge and plant.

Sulfides are additionally on the agenda on the Purple Flag Nickel Sulfide Challenge, which sits between the historic Windara South Mine, which produced 42,646 tons of nickel at 1.35%, and the aforementioned Murin Murin Plant.

The corporate plans to conduct soil sampling, aeromagnetics and electromagnetic surveys at Purple Flag within the first half of subsequent yr, following the Salamas goal and the undrilled Mount Goose goal close to Poseidon Nickel’s Woodline Effectively challenge.

panther ipo
Purple Flag Challenge. Photograph: Equipped.

A gold goal, the eight-foot nicely can be on the crimson flag on the identical mafic-ultramafic sequence that hosts Mount Goose. One of the best intercepts right here from preliminary drill testing embody 2m at 9.2g/t gold and 6m at 1.57g/t, each inside 40m of the floor.

panther ipo
Eight foot nicely. Photograph: Equipped.

golden prospect

The Merolia Gold Challenge can be excessive on Panther’s agenda, with rapid drilling additionally deliberate on the thrilling 40 mile Camp 2.5km 5km gold anomaly.

panther ipo
Merolia Gold Challenge. Photograph: Equipped.

“This anomaly was detected throughout a reasonably intensive auger drilling program of about 870-odd 1.5 m holes all through the belt, together with some magnetics,” Tuffin mentioned.

“After we overlapped these outcomes there have been some gold discrepancies, however the largest was the 40 mile camp, which we have been actually hoping to get and discover.

“That is what we’re actually enthusiastic about – 2.5km broad by 5km lengthy. If there is a blue sky, that is the place it’s.”

panther ipo
Merolia Gold Challenge with 40 Mile Camp in pink. Photograph: Equipped.

The Ironstone goal – the place historic assays embody a success of 46.5m on 9g/t gold – will even obtain early drill holes, whereas Burtville and Comet Effectively are additionally in line for exploration drilling within the second half of subsequent yr.

Panther’s NT gold pursuits – Anaburo and Maracai – would be the topic of discipline mapping in H1 2022.

“We count on many information flows in nickel and gold in WA and NT over the following few years. There shall be no scarcity of labor to do,” Tuffin mentioned.

It was a coincidence that may quickly see the Australian subsidiary of Panther Minerals listed on the ASX. Will luck go hand in hand? Time will inform.

you could have an interest

Supply hyperlink