Panther Metals (PALM) has extended its option agreement with Frontier Energy to 29th October 2025, with all other terms unchanged. The Frontier Energy agreement relates to the Pick Lake deposit, part of Panther Metals’ wider Winston Lake mine project, which looks ripe for redevelopment. Pick Lake comprises a sizeable exploration opportunity around Winston.
Panther’s other agreement relating to Winston, that with First Quantum Minerals, is separate and not affected by the variation.
Winston is expected to generate average life of mine annual EBITDA of C$67.64 million and have a pre-tax net present value of C$175.8 million, with further strong exploration potential.
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As a polymetallic project containing a significant component of copper, Winston continues to look an attractive proposition in today’s recovering commodities pricing environment. Panther’s chief executive Darren Hazelwood argues that the underlying economics of Winston are “compelling”, and that Winston is comparable to “a mid-tier asset with strong margin potential.”