SYDNEY: Panther Metals (LSE:PALM) the company focused on mineral exploration in Canada, announced the disposal of its entire shareholding comprising 18.2 million shares in Australian Securities Exchange listed Panther Metals Limited  (Panther Australia, ASX:PNT).

The net proceeds of the Panther Australia share disposal is AUD 421,328 (circa £219,000) after fees and charges.

Darren Hazelwood, CEO commented: “We’ve always understood the drill bit is the ultimate driver for exploration success, and our exit from Panther Australia is in no way a reflection on their drill prospects and their very competent exploration team.

Our own strategy is clearly focused on making a transformative discovery on our own highly prospective portfolio, as that will bring the most benefit to our shareholders.

To thrive in the junior exploration sector, one has to be pragmatic; it’s essential to be able to modify and adapt corporate strategies in order to best manage the interests of shareholders.

We’ve witnessed several recent developments with the Company, including the issue of the Dotted Lake drilling permit, and it’s time to move forward. I will be updating the market as plans come to fruition.”