Panthera Resources, a diverse gold exploration and development firm, has finalized agreements with DFR Gold and Maniger to restructure ownership arrangements concerning the Kalaka gold project in Mali and the Paimasa, Dagma, and Dext gold projects in Nigeria.
Post-restructuring, Panthera will possess 100% ownership of Maniger, elevating its stake in the Kalaka Project from 40% to 80%. Golden Spear Mali SARL, a local partner, will retain the remaining 20% interest in the Kalaka Project.
As part of the reorganization, Panthera will divest its interests in the Nigerian projects. In this process, the company will settle intercompany loans with DFR Gold for approximately $67,931. In return, DFR Gold will acquire the Nigerian projects from Maniger for a nominal sum.
Situated in southern Mali, near prominent gold mines Morila and Syama, the Kalaka gold project, operated by Panthera, holds significant promise for large-scale gold mineralization. Historical drilling at the K1A target has uncovered substantial mineralization widths within a broad 0.5 grams per tonne of gold mineralization envelope, highlighting the project’s potential.
Mark Bolton, Managing Director of Panthera, remarked, “In light of a recent re-assessment of the historical database at Kalaka and improved gold prices, the company has opted to expand its focus at Kalaka. The alteration in ownership structure at Kalaka better aligns with our planned endeavors. We view Kalaka as a substantial gold system with the potential for a multi-million-ounce gold resource. The robust gold price is expected to support a strategy focused on lower grade, bulk tonnage development.”
