Panther Metals (PALM ) has raised £600,000 via an allotment of shares to CEO Darren Hazelwood.
The company has allotted 1 million new shares of no par value each for 60 pence per share to Hazelwood.
Panther also intends to carry out a separate retail offer of up to 166,667 new shares at the same issue price of 60 pence each on the Winterflood Retail Access Platform (WRAP) to raise of up to £100,000.
This retail offer will provide existing retail shareholders in the UK with an opportunity to participate in the fundraising at the same price as the placing.
Existing shareholders of the company can contact their broker or wealth manager to participate in the WRAP Retail Offer.
The WRAP offer is expected to close at 4 pm on 29 October 2025.
The issue price represents a discount of ~11% to the closing mid-market price of 67.50 pence per share on 27 October 2025.
Panther will use the funds to advance the historical Winston Lake Project in Ontario, Canada.
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.
Hazelwood said: "The company is now 100% focused on delivering tailings production targeted for YE 2026. The use of proceeds will enable the company to attain a Mineral Resource Estimate at the Winston project which will underpin partner offtake discussions to enable delivery of production targeted for YE 2026. Any future exploration work is expected to be funded from cashflows from the tailings project."
View from Vox
The chief executive’s £600,000 subscription signals conviction and shores up near-term funding, while the WRAP lets retail shareholders participate at the same price. Proceeds aimed at a Mineral Resource Estimate and offtake discussions create clear catalysts on the path to tailings production targeted for YE 2026.