Panthera Resources PLC (AIM:PAT) has arranged a conditional equity capital fundraise of £1.04 million with new and existing investors via a placing at 5.5p per share.
Allenby Capital, VSA Capital and Novum Securities are acting as brokers with the net proceeds earmarked for its projects in India and West Africa and for working capital.
Mark Bolton, Panthera’s managing director, commented: "We are delighted to receive this support from existing shareholders as well as welcoming new institutional shareholders to the shareholder register.
“The equity financing will support our business while we pursue international arbitration against the Government of India, an unusual situation where the company seeks to realise the fair value of the Bhukia project.
“The arbitration is financed by LCM Funding SG Pty Ltd, an international leader in this field".