Panther Metals PLC has announced a variation to the Option and Sale and Purchase Agreement with Frontier Energy Ltd relating to the Winston Project.
Under the revised terms, the Option Period has been extended to 29 October 2025, providing additional time for ongoing assessment and strategic planning. All other conditions of the agreement remain unchanged, and Panther confirmed that its separate agreement with First Quantum Minerals Ltd is not affected by this variation.
The Winston Project Feasibility Study (2021) outlined a strong economic case for mine redevelopment, supporting a 1,000 tonnes-per-day underground operation with a Net Present Value (NPV8%) of C$171.5 million and a pre-tax Internal Rate of Return (IRR) of 26%.
The study was based on an Ore Reserve of 1.96 million tonnes grading 13.9% zinc and 0.6% copper, with significant gold and silver credits, producing an expected 69.8 ktpa of zinc concentrate and 5.3 ktpa of copper concentrate over an initial 8.5-year mine life.
Panther said the extension allows both parties to continue advancing discussions around the potential redevelopment of the high-grade Winston deposit.
