Panthera Resources PLC (AIM:PAT) managing director Mark Bolton speaks to Thomas Warner from Proactive after the gold exploration and development company announced that its subsidiary Indo Gold has received an unconditional $13.6 million funding facility from LCM Funding to pursue claims against the Indian government relating to the Bhukia Gold Project.
Bolton explains the background to the situation, highlighting that the Bhukia Project holds immense value with an established resource of 6.7 million ounces of gold. He notes that the funding arrangement with LCM provides a risk-sharing model for their arbitration claim, which "as a small micro-cap is a fantastic deal from the company's perspective."
Panthera is now preparing for the arbitration process, aiming for a swift and amicable solution.
Beyond India, Panthera is active in West Africa, and Bolton promises forthcoming updates on their projects in the region.
He concludes by saying that Panthera is "not a litigation company [but] a gold explorer" and he is looking forward to getting back on track at Bhukia.
