Panther Metals plc plans to buy £4 million of Bitcoin to hold in a Bitcoin treasury account, to help fund the Pick Lake project, part of the Winston Lake tailings option in Ontario, Canada.
AGILE
The base and precious metals deposit contains approximately 85% of the 2.34 million tonnes of the total mineral resources on Winston.
Panther’s Bitcoin account, held with CoinCorner Ltd based in the Isle of Man, will be funded from converting money from existing warrants and a fundraise.
The exploration company, also domiciled in the Isle of Man, has appointed UK-based Bitcoin consultancy Evoke Solutions to advise on “operational setup, security protocols, and governance structures” for its treasury.
On completion of a fundraise, Panther aims to use a £1.3 million loan facility secured on its Bitcoin holdings as collateral.
The company believes that the financing strategy will make it a “dominant player in bridging the gap between the fiat system and decentralised digital cryptocurrency”.
“Panther Metals is taking a bold step forward by combining the strength of traditional hard assets with the strategic benefits of digital finance,” said chief executive officer Darren Hazelwood.
“By establishing the Bitcoin treasury, we’re not only diversifying our funding strategy – we’re positioning the company to access faster, more flexible capital, while protecting long-term shareholder value.
“This hybrid approach allows us to leverage Bitcoin to fund high-quality mineral projects like Pick Lake whilst being less dilutive to our shareholder base, due to the more attractive terms being offered by the digital space.
“It’s a model that aligns Panther with the future of finance – where digital assets can be used as productive capital, not just passive holdings.”
Mr Hazelwood added that Bitcoin offered a “unique hedge against fiat currency risk” to create a “powerful platform for growth, resilience and value creation”.
“This is not just an innovative financing tool – it’s a strategic shift,” he said.
“By blending the stability of physical resources with the flexibility of digital capital, Panther is building a business that can thrive through market cycles and remain ahead of the curve.
“Our goal is simple: to deliver long-term returns by staying agile, asset-backed, and forward-looking.”
The company, will use traditional funding to maintain the £4 million Bitcoin treasury, if required, to hedge against the Bitcoin exposure.
In the future, Panther looks to increase its Bitcoin treasury, by way of a similar funding structure, before further increasing its fiat-priced commodity holdings.
The company has also started the process to gain an OTC markets listing.
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