Panthera, the AIM listed gold exploration and development company announced on 24 and 25 February 2025, that it had conditionally raised approximately £2.77 million through a combined subscription and accelerated bookbuild placing, each at 7 pence per share. The placing was to new and existing institutional investors.

The funds raised are intended to be used by the Company for working capital, including general administration expenditure necessary to pursue its international arbitration claim against the Republic of India.

On 26 July 2024, the Company announced that through its Australian subsidiary, Indo Gold Pty Ltd (“IGPL”), IGPL had formally issued a Notice of Arbitration to India in relation to the Bhukia project. The arbitration is being funded through a US$13.6 million financing package provided by Litigation Capital Management Limited (“LCM”), a firm quoted on the AIM Market of the London Stock Exchange plc. LCM is a leading global disputes funder with significant expertise in international arbitration and cross-border disputes, including bilateral investment treaty claims over mineral resource assets.

Partner and Head of Capital Markets, Jack Dervyn, led the Druces’ team which included, David Smith (Consultant), David Jahoda (Senior Counsel) and Kajal Sachania (Senior Associate).

David Smith, Druces, commented:

“Moving quickly to support our clients’ activities and providing legal advice with a commercial aspect, are key skills that we pride ourselves on at Druces. We have a close relationship with Panthera and congratulate the board on delivering a successful fundraising”.