Panthera Resoures completes sale of the Kalaka project to Moydow

Panthera Resources Plc (LON:PAT), the diversified gold exploration and development company with assets in West Africa and India, has announced that the sale of the Kalaka Project to Moydow Holdings Ltd has now been completed.

Background

On 22 July 2020, Panthera announced that it has entered into a conditional sale and purchase agreement (Agreement) to divest its interests in the Labola gold project in southwest Burkina Faso and the Kalaka gold project in southwest Mali to Moydow. 

With the transfer of Kalaka now completed, Panthera is entitled to receive the remainder of the deferred consideration (US$60,000) and refund to Panthera the 2H 2020 historical costs on Kalaka forecast at US$115,000.  Furthermore, Panthera is entitled to receive 0.5 million shares in Moydow increasing its ownership interest in Moydow to 46.2%.  The consideration is anticipated to be received shortly.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Panthera Resources Plc

More articles like this

Panthera Resources Plc

Gold prices move up

Gold prices went up to Rs 104,500 per tola in the domestic market on Saturday, showing a rise of Rs200. Sharing the price of the precious metal, All Pakistan Jewellers Manufacturers Association Chairman Muhammad Arshad said that the

Panthera Resources Plc

Gold near 2-month high

Gold futures were trading higher on Monday near two-month high as a weaker dollar and lower US Treasury yields supported prices. However, the deteriorating health crisis in India also led to gains. Silver futures declined. The dollar index

Panthera Resources Plc

Gold prices mark highest finish in 7 weeks

Gold futures on Thursday scored their biggest daily gain since March, with prices settling at their highest in seven weeks, as benchmark U.S. bond yields pulled back and rising U.S. tensions with China and Russia boosted the metal’s

Panthera Resources Plc

Gold investing in India came of age in FY21

For a long time, Indians used to splurge on gold. They are the world’s second largest consumers of gold after China. However, gold as an investment, may have finally taken shape in FY21. There were a number of

Panthera Resources Plc

Gold hits over one-week high

Gold prices rose on Tuesday to their highest level in more than a week as a weaker dollar and pullback in U.S. bond yields lifted demand for the safe-haven metal. Spot gold was up 0.4% at $1,734.72 per

Panthera Resources Plc

Yellow metal trades higher

Gold was trading higher in Indian markets on March 30 despite a muted trend in international spot prices but silver was trading lower, below Rs 64000 a kg. On the Multi-Commodity Exchange (MCX), April gold contracts were trading higher by

Panthera Resources Plc

Gold steadies as market awaits Powell remarks

Gold prices were little changed on Tuesday as investors awaited comments on U.S. economic health from Federal Reserve Chairman Jerome Powell and Treasury Secretary Janet Yellen later in the day. Spot gold XAU= was almost unchanged at $1,738.50 per ounce

Panthera Resources Plc

Gold rises 1% after Fed reaffirms dovish stance

Gold prices rose over 1% on Wednesday after the U.S. Federal Reserve reiterated its accommodative monetary policy which also weakened the dollar. Spot gold rose 0.8% to $1,743.93 per ounce by 1642 EDT, after gaining as much as