I wonder if the markets lack of appetite for the Canadian juniors is down to their model, PALM, FCM and FMET all seem to have a plethora of large licences which confuse the investors, the question mainly being asked is how do they pay for wide swathes of exploration without diluting the heck out of shareholders, so far all three have done just that.
The model has truly failed at FCM when after early promises if significant shareholder value they, in effect, gave 52% of the company away for relative peanuts.
PALM seems be be slowly going the same way, the CEO has talked/hinted of deals and partnerships yet nothing has occurred, there appears to be no blue sky moment to excite.
One also has to decide if these outfits are purely lifestyle companies or not. |
Absolute rubbish, co has deals in the background, lots of funding options & imminent drill results. Junior explorers on the floor until projects derisked, RMR GMET two positive examples. Underlying issue at Panther has been lack of cash which has slowed progress but 2025 is going to be transformative. |
Indeed.. a real disappointment over the last 5 years.
Its always jam tomorrow. |
Looks like the party will soon be over here, the shares are now trading at a meagre 1.45p pre the stupid consolidation and heading lower for sure.
Since 2019 every interview DH talks the company book, referring to majors and their adjacent licences, promising shareholders riches, in reality it has been a disaster.
The Aussie offshoot stock has all been sold for peanuts and now the Fulcrum stake is effectively worthless as their share price plummets into the gutter.
The suite of licences PALM hold have had millions spent on them keeping the dream alive but the reality is no-one cares.
Never forget the 'watch this space' comment when pressed over how PALM would fund all the projects, investors wrongly thought DH would deliver a leftfield event but all that happened was dilution at ever lower prices.
Last out turn off the lights. |
all sold, then still had to raise, whilst kissing goodbye:
BVE006: 15m @ 53.94g/t Au from 27m, including 1m at 478g/t from 28m (visible gold was panned from the drill hole cuttings of BVE006 (see ASX:PNT release 14 July 2022);
o BVE009: 10m @ 7.15g/t Au from 84m, inc. 1m at 62.80g/t Au from 91m; and
o BVE002: 1m @ 73.3g/t Au from 93m.
--
11oct2024
'Panther Metals PLC (LSE:PALM) the company focused on mineral exploration in Canada, announces the disposal of 18,223,306 shares in Australian Securities Exchange listed Panther Metals Limited ("Panther Australia", ASX:PNT) constituting the Company's entire holding. The net proceeds of the Panther Australia share disposal to Panther Metals Plc is AUD 421,328 (circa £219,000) after fees and charges.'
--
31 jan quarterly report is worth a quick look, about to go back to burtville east after a fundraise a few days ago |
As the general market declined, it became increasingly difficult to raise cash & to execute a strategy. It just needs one decent drill result and this will turnaround. |
Half of the problem here is there is never a solid plan for shareholders to hang their hat on.
Shareholders are left to fill in the gaps and hope for the best while Darren goes through the same sequences of puffing his chest out followed by long periods of silence and onto the next shiny bauble in the portfolio while the share price continues lower.
I have been investing a long time and never known a company run in such a way. It's more than frustrating. |
Risk and reward here. A punt could see a big return on this share price drop but results of drill need to good. Expect an uptick but expect holders have been saying that for a while. Have a feeling a top up soon May be needed after I have seen my psychiatrist. |
What it's really lacked is a killer drill result, had lots of pathfinders & VMS systems. The gold at Dotted Lake is potentially commercial & up to 4km long. The ultramafic intrusive is prospective for PGM, Nickel, cobalt, copper, and Panther is waiting on 4 drill results. Not sure what's delayed processing the core, I heard it was related to the new process on drill 1. DH said cores were submitted about the end of Jan so broadly you'd expect results anytime in next 0-2 weeks. Panther know they have Pentlandite & Chromite but PGM won't show up on XRF. They also drilled a conductor in two places on drills 2&3, if they turn out to be 25m of 2% Ni then it completely derisks Dotted Lake. To quote Nick O'Reilly, "we found exactly what we expected to find" with a massive grin on the face.I agree the lack of news is disappointing but I haven't written Panther off |
The market has never seemed to like this company, it could be Canada related, it is possible to pick up licences over there almost at will and for a song.
A point was made recently that if a company pays, let's say £100k/£200k for 2 or 3 licences why should these same licences be worth £2m/£3m/£4m by way of market value straight away.
PALM seems to have been unable to secure a JV partner + retains so many licences investors have no clue as to where they are really focussed.
Think this is now at an all time low. |
Would you get out of bed & work a 60hr week for £75k/yr, could earn better money as a train driver. |
i am adding palm to the cgnr, pxc - to my case study in human psychgology. lots of powerful brilliance there to learn from |
Cores 2-5 weren't submitted until end of Jan which I agree is ridiculous. O'Reilly is at PDAC this week and he'll need turnaround time when results come in so I'm thinking 1-2 weeks. |
grimreaper2019
If it walks like a duck, looks like a duck, talks like a duck, it’s a..? |
The market has no appetite for the Canadian minnow explorers on LSE, FCM were promising riches to it's shareholders when the share price was 15p+, they ended up giving away 60% of the business at 2.5p quite recently.
Fulcrum (FMET) screwed shareholders with a 60% discounted placing at 8p to raise just £600k recently, they listed at 17.5p raising £8m in the process in 2023, money all gone delivering nil value.
PALM has been a disaster share price wise, so bad they had to consolidate their shares to hide the woeful performance, now selling at the pre consolidation price of just 2p
Some may argue these are simply lifestyle companies, listing and cronies fees suck out at least £1.5m pa from the 3 of them. |
Can't argue with that GC. |
Radio silence for 2 months on the dotted lake drilling. Nothing but disappointment and disloyalty to its shareholders here. Metal markets on the increase but who knows how long before this turns. Holding back on results with no further plans announced is a pretty poor show from the CEO |
Because they have a different view?
You have been bleating the same sort of thing
for ages, so I expect you have an agenda.
Personally,when there is a bit of a lull, I wait and see what the market does.
However, I can always become more vocal, if needs must.
IMO
8-) |
Exactly xow and he seems to gain no value from any of them.
What happened to the graphite indeed. |
Problem is DH has a new fancy toy every drill, graphite (what happened to that), gold, now cobalt |
Co doesn't move far from source |
I have the same questions. Think they'd run out of cash and thought Glencore would bail them out. Corporates have layers of governance and we're either moving too slowly or having seen the cores are not interested. DH has also invested a lot of time in flow through funding but ran into problems with FCA. There's a lot riding on the imminent assay results. I noticed DH posted about cobalt shortages, they had Co in soil samples & in theory it does move far from the source, v valuable $$$$$. |
Fair points - but why was this raised at such a discount? If results are good, indicating the share price will rise, then they could have got this away at market or at least much closer to. It doesnt make a lot of sense to dilute holders (and himself) if things are so rosey.
He's an inexperienced CEO, he's trying to keep everybody happy rather than play it with a straight bat and let the results speak for themselves. Again, Glencore would fund this in a heartbeat if it was worth more than their initial stake |
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