Panther Metals PLC (LSE:PALM) chairman Kerim Sener hailed a 'tremendous' six months for the company in Australia and Canada as the mineral exploration group reported interim results.
Australia subsidiary Panther Metals Limited (Panther Australia) is moving towards a listing on the ASX, he said.
“Panther Australia is now in the process of preparing its prospectus documentation and an independent geological report, with the assistance of its legal advisors and geological consultants.
“It is expected that an ASX in principle submission will be made to the Australian Securities Exchange in the near future, which would trigger the initial process of an ASX listing.
After a A$300,000 funding round recently, the company’s stake in Panther Australia is now 77%.
In Canada, meanwhile, drilling has started at Dotted Lake prospect in Ontario, he added.
Sener said that part of the reason for the speed of progress was the company’s use of entirely in-country teams, which he added would "remain a core feature of our overall strategy going forward, as will the concept of spinning-out parts of our project portfolio into country or project-specific entities".
Panther’s results for the half-year to end June showed a loss of £88,000 (£388,000).
Earlier this week it raised £630,000 to fund the exploration at Dotted Lake and on the Wishbone VMS, its other major project in Canada.