LONDON: Panther Metals Plc (LSE: PALM) has unveiled a novel financing strategy that blends digital assets with traditional hard commodities, following the successful establishment of a Bitcoin Treasury account and its intention to fund the acquisition of the Pick Lake deposit in Ontario, Canada.
The exploration company, focused on critical mineral projects in Canada, confirmed on Monday that it has opened the Bitcoin Treasury with CoinCorner Ltd, a leading Bitcoin service provider based in the Isle of Man. The move marks a strategic pivot in Panther’s capital structure, enabling the company to harness the liquidity and flexibility of Bitcoin-backed finance while maintaining exposure to both traditional and digital assets.
To support this initiative, Panther has appointed UK-based digital asset consultancy Evoke Solutions to advise on the operational and security architecture of the Bitcoin Treasury. The advisory firm will assist in establishing robust governance structures and secure custody solutions aligned with Panther’s objectives.
Panther intends to accumulate £4 million in Bitcoin for its Treasury. The reserve will be funded through the conversion of existing warrants and the remaining capital raised via the markets—a process the company collectively refers to as the Capital Raise. Once finalized, Panther plans to leverage its Bitcoin holdings to secure a loan of approximately £1.3 million, which will be used to finance the purchase of the Pick Lake asset, part of the larger Winston Project.
This innovative model allows the company to preserve its Bitcoin position while unlocking liquidity through collateralized lending. The Pick Lake property represents about 85% of the Winston Project’s estimated 2.34 million tonnes in total mineral resources. A 2021 feasibility study valued the project at a pre-tax NPV of C$175.8 million at an 8% discount rate and C$213.2 million at a 6% discount, based on zinc, copper, gold, and silver reserves.
Panther emphasized that it has no immediate plans to draw additional capital against current or future Bitcoin reserves. However, the firm intends to explore similar funding models to further grow its cryptocurrency and physical commodity portfolios. In the event of volatility in Bitcoin valuations, Panther will maintain its Treasury balance using conventional capital mechanisms.
“Our hybrid approach allows us to leverage Bitcoin to fund high-quality mineral projects like Pick Lake whilst being less dilutive to our shareholder base,” said CEO Darren Hazelwood in a statement. “It’s a model that aligns Panther with the future of finance—where digital assets can be used as productive capital, not just passive holdings.”
Hazelwood added that the strategy serves as a hedge against inflation and fiat risk, aligning Panther with both the digital and green economies through its focus on critical minerals.
Panther believes its listing on the Main Market of the London Stock Exchange, coupled with regulatory benefits from its Isle of Man domicile, makes it uniquely positioned to pioneer this hybrid treasury model. The company has also initiated efforts to secure an OTC Markets listing to broaden its investor base.
While Panther’s core business remains focused on developing fiat-valued mineral assets, the integration of digital finance signals a strategic shift. The company aims to bridge traditional commodity markets with decentralized finance by using Bitcoin as a cornerstone of its treasury strategy.
CoinCorner, established in 2014, serves over 350,000 users and 4,000 business clients, including major brands such as Costa Coffee and Hotel Chocolat. The platform supports multi-currency accounts in Bitcoin, pounds sterling, euros, and stablecoins such as Tether (USDT).
Evoke Solutions, known for its expertise in multi-signature wallet systems and operational security, provides tailored infrastructure design for clients ranging from individuals to investment firms, aligning digital strategies with long-term capital objectives.