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  • Panterra Gold Receives Initial Substantial Shareholder Notice 0 comments
    Jul 25, 2014 2:56 AM

    Panterra Gold (ASX:PGI) has received a notice of initial substantial shareholding from Hawthorne Pty Ltd which has a 5.05% stake.

    Hawthorne had acquired 1.5 million shares for a total of $58,500, or an average consideration of $0.039 per share, on 21 July 2014.

    This follows the addition earlier this month of Central American Mezzanine Infrastructure Fund as a substantial shareholder in Panterra.

    The investment fund was issued 16,563,725 shares priced at $0.035 each in lieu of dividend payments due from Redeemable Preference Shares, bringing its total shareholding up to 5.9%, or 46,619,838 shares.

    The company's Lagunas gold-silver project in the Dominican Republic currently produces revenue of about US$1 million per week with operating costs of US$600,000 per week.

    This income is likely to increase when oxidation of the refractory ore being processed improves with the additional Albion reactor that is being installed.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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