Panther Metals plc has signed a non-binding letter of interest over its Winston Lake mine tailings project in Canada with Traxys Europe SA, a division of global commodity trader and merchant Traxys Group.
CONFIDENCE
The project in Ontario contains high-grade gold, gallium, silver, zinc, copper, indium and cobalt as well as other minerals within the tailings storage facility near Schrieber.
Panther is currently progressing Winston towards a mineral resource estimate.
The company noted that Traxys based its practices on environmental, social, and governance standards, to set a “leading example for the responsible sourcing and trading of metals and minerals”.
Panther chief executive officer Darren Hazelwood said that both parties were in discussions, adding: “We believe the LoI with Traxys represents a strong third-party endorsement of the project’s technical and economic potential.
“The involvement of Traxys with their global scale and capability, potentially offers the capacity to significantly strengthen Panther’s pathway, while providing a clear signal of confidence to our shareholders and the wider market as we advance the Winston tailings project towards production.”