Panther Metals Secures New Option Over Key Obonga Gold and Base Metal Claims

Panther Metals Plc ( (GB:PALM) ) has shared an update.

Panther Metals has secured a new three-year purchase option over three multicell mining claims—Otter Gold, Z2 Gold and Wig—within its Obonga Project in Ontario, extending its rights over these gold and base metal prospects through to January 2029. The option, agreed with claim holder Karen Siltamaki as a partial replacement of a previous arrangement, covers properties adjacent to Panther’s existing Wishbone and Awkward prospects and targets gold, palladium, platinum, nickel, copper, cobalt and zinc, supported by historic drilling that has already intersected mineralisation. Under the deal, Panther will pay staged option fees and may acquire the claims for C$200,000 plus a 1.5% net smelter return royalty, contingent on drilling at least 1,800 metres including a hole on each claim, thereby committing the company to meaningful exploration. The move strengthens Panther’s district-scale position at Obonga, complements its expanding work programs backed by recently granted exploration permits at Wishbone and Awkward, and reinforces a portfolio strategy that also includes advancing the Hemlo-adjacent Dotted Lake gold project and the Winston tailings reprocessing opportunity, all designed to drive discovery-led growth and enhance long-term shareholder value.

The most recent analyst rating on (GB:PALM) stock is a Hold with a £70.00 price target. To see the full list of analyst forecasts on Panther Metals Plc stock, see the GB:PALM Stock Forecast page.

Spark’s Take on GB:PALM Stock

According to Spark, TipRanks’ AI Analyst, GB:PALM is a Neutral.

The score is held back primarily by weak financial performance (pre-revenue, losses, and persistent cash burn) and a negative P/E driven by unprofitable operations. Technicals provide a partial offset with positive momentum and price strength versus moving averages, though indicators appear stretched.

To see Spark’s full report on GB:PALM stock, click here.

More about Panther Metals Plc

Panther Metals Plc is a London-listed mineral exploration company focused on discovering and advancing gold, base metal and critical mineral projects in Canada, particularly within Ontario’s Obonga Greenstone Belt. Its portfolio includes the Obonga Project, where it is targeting volcanogenic massive sulphide (VMS) and critical minerals; the Dotted Lake gold project near Barrick’s Hemlo mine; and the Winston Tailings Project, which aims to recover residual metals such as gold, gallium, silver, zinc, copper, indium and cobalt from historic mine tailings, combining resource growth with site rehabilitation.

Average Trading Volume: 45,104

Technical Sentiment Signal: Hold

Current Market Cap: £4.85M

See more data about PALM stock on TipRanks’ Stock Analysis page.