Panther quick to pounce, snaring several milestones just months after ASX debut
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Panther Metals hasn’t wasted any time since it listed late last year and has well and truly delivered on several of the milestones the company promised in its IPO schedule – some even earlier than expected.
Panther Metals’ (ASX:PNT) managing director Daniel Tuffin said just before the company listed in December 2021 that the company expected to have quite a bit of news flow across its nickel and gold projects in WA and the NT over the next few years, and there was no shortage of work to do.
He wasn’t wrong. In the seven months since Panther listed, the company has been drilling at its Coglia nickel-cobalt project in WA and ticking several boxes along the way.
A number of enticing headlines tell the story.
In February this year, Panther reported that drilling had intersected “exceptional” high-grade nickel and cobalt zones at Coglia, such as 21m at 1.23% nickel including 2m at 3.01% nickel from 79m; and 8m at 1,531 parts per million (ppm) cobalt including 2m at 2,305ppm cobalt.
This was quickly followed by the release of the highest nickel and cobalt grades up to that point, including up to 3.77% nickel and 3,160ppm cobalt.
Investors were quick to react to that round of news, driving up Panther’s share price to a 52-week high of 29.5c – a 47% spike since its ASX debut.
The momentum continued with the delivery of the highly anticipated maiden resource for the Coglia project, which was not only much bigger-than-expected but also ahead of schedule.
This very first resource reported was 70.6Mt at 0.7% nickel and 460ppm cobalt for 476,000t of nickel and 32,200t of cobalt – 40% larger than the 30-50Mt JORC exploration target (JET) the company initially outlined and before the second half of 2022 target promised in the IPO.
Tuffin dubbed that achievement “outstanding and transformative”.
And rounding out the extremely busy period, just two weeks after the release of the maiden Coglia resource, Panther impressed investors with news of a bonanza hit of 1m at 478 grams per tonne (g/t) gold at the Burtville East prospect. Shares again went on a run, gaining nearly 30%.
Panther is definitely in the right neighbourhood, with the company’s portfolio of project located within a short distance of several major producers including Gold Fields, AngloGold
It’s a rarity in the exploration space for companies to achieve so much in a short space of time after listing, making Panther a standout in this respect.
These successes are the culmination of Kismet, a tier one exploration jurisdiction and a highly experienced team, with the results now flowing and plenty more still to come.
This story was developed in collaboration with Panther Metals, a Stockhead advertiser at the time of publishing.
This story does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.