Panthera Resources Plc (GB:PAT) has released an update.
Panthera Resources Plc has issued a Notice of Arbitration against India, seeking damages over India’s alleged breaches of investment treaty obligations, related to the Bhukia gold project. The dispute follows the rejection of a Prospecting Licence Application and the passage of the MMDR2021 act, which affected the company’s rights. Panthera’s Australian subsidiary, Indo Gold Pty Ltd, has secured a $13.6 million litigation finance deal to pursue the treaty claims, with no obligation to repay if no award is recovered.
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