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Ariana Resources announces Asgard Metals Fund initial investment

Published by
Global Mining Review,


Ariana Resources plc, an AIM-listed mineral exploration and development company with joint-venture gold mining operations in Europe, has announced the completion of the initial investment of the Asgard Metals Fund (the fund), which is being developed as part of its proprietary Project Catalyst Strategy.

Highlights

  • Panther Metals Ltd has successfully listed on the Australian Securities Exchange (ASX) under the ticker 'PNT', at a market capitalisation of AUS$10.9 million.
  • Asgard Metals Fund hold an interest in 1.75 million PNT shares (representing 3.2%).
  • Shares will be held in a mandatory escrow for a two-year period following the IPO of PNT.

Dr Kerim Sener, Managing Director, commented: “The successful listing of Panther Metals marks a key pivot point of our ambitions as an exploration and development company, which now spans three continents, and represents an important stage in the realisation of value through the Asgard Metals Fund. The fund offers Ariana and its shareholders significant upside through the exposure to exciting, high-growth potential assets across multiple jurisdictions and commodities and we look forward to developing and increasing its role in Ariana's growth.

“We are proud to be working alongside the Panther team as they advance their Coglia nickel-cobalt deposit, located near Laverton in Western Australia, to the drilling stage. We will be closely monitoring their activities and we look forward to seeing the results of both their nickel-cobalt and gold exploration programmes into 2022.

“In particular, this is an exciting time to be exploring for the commodities which will help the world transition to alternative energy, while at the same time recognising the ethical sourcing issues associated with commodities such as cobalt.”

Read the article online at: https://www.globalminingreview.com/finance-business/15122021/ariana-resources-announces-asgard-metals-fund-initial-investment/

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This article has been tagged under the following:

Nickel mining news Cobalt news European mining news