Ann: Conditional Sale of Merolia Gold Project for A$274,000, page-7

I was initially more than a little disappointed when I read the header of the announcement as I thought that the Comet Well, Ironstone and Red Flag prospects were worth a significantly higher value as an outright sale, or alternatively could be vendored into an IPO. I have held high hopes on the exploration of these tenements.

However, after reading the announcement the directors have negotiated a pretty good deal. I believe that there is potential for sigificant short-term share price appreciation on the 734,470 Panther shares received as part consideration. Panther's current market cap is only GBP6m and, in addition to our ex-projects, they have just begun early stage work at what appears to be an exciting, underexplored project in Ontario.

This divestiture model has served WCN nicely with the sale to RTG of our Kyrgyzstan assets so hopefully WCN can repeat that same level of success here. With the benefit of hindsight, considering the current issues in Kyrgyzstan that sale was a stroke of brilliance by, at that time, the newly appointed directors of WCN.

In addition there is still the milestone payments of AUD1.25/oz on the JORC(s) (and unlike a smelter royalty we get the money a lot sooner and with a lot less risk).

DYOR and GLAH

https://www.londonstockexchange.com/stock/PALM/panther-metals-plc/company-page?lang=en
https://polaris.brighterir.com/public/panther_metals/news/rns_widget/story/x5ojz0r