Panthera Resources makes loss; significant discovery at TT13 prospect

(Alliance News). Panthera Resources PLC said Friday that its first-half pretax loss was increasing as it secured financing for Cascades in Burkina Faso. Pretax loss for the first six months ended September 30, according to the London-based gold explorer, which had projects in India and West Africa. This was down from USD1.9million. Panthera announced that a deal had been reached with Diamond Fields Resources Inc to fund exploration and development of the Cascades Project, Burkina Faso. Moydow Holdings Ltd, Panthera's 20% shareholder, has made a significant discovery at TT13 after a drilling campaign. Mark Bolton, Managing Director, stated that "despite the difficult equity market conditions for junior gold miners, the year so far has been marked by significant field activity in our vast West African assets. This was partly due to the Moydow restructuring, and the funding agreement with DFR. London's Panthera shares remained flat at 4.70pence each Friday. All Rights Reserved