Panthera Resources (PAT LN) has announced a heavily oversubscribed placing raising gross proceeds of £2.77m at 7p/sh. This, in our view, provides the company with the necessary working capital to cover PAT G&A during the arbitration process. While the litigation financing package of US$13.6m fully funds the legal process, this is ringfenced and cannot be used to cover day to day running costs of the business. Therefore, one of the key risks for the share price performance during the arbitration ....
