Panther Metals plc has raised £2.5 million through a placing of 1,851,852 ordinary shares of no par value, representing some 21% of the company’s existing share capital, at 135 pence per placing share.
TVRs
The placing price was a 3.5% discount to the mid-market closing price of Panther’s shares on 17 June 2026.
The company had to scale back the “significantly oversubscribed” fundraise which received “substantial” support from new and existing institutional investors and existing shareholders.
Following admission, Panther’s total issued share capital will comprise 10,631,838 ordinary shares, each with one vote.
Net proceeds will add a second drill to the diamond drilling campaign at the Wishbone volcanogenic massive sulphide project at Obonga in northwest Ontario, Canada.
Funds will also progress the Winston gold mine tailings recovery project through the permitting process, possibly advance Dotted Lake, subject to the current magnesium extraction work results, and provide working capital.