Premier Miton, one of the most active institutional investors in London-listed junior mining companies, has taken a 7% stake in Panther Metals (PALM ).
The news came after a couple of high net worth investors trimmed their stakes in Panther.
Meanwhile, on the ground at its Obonga target in Canada, Panther is continuing with an extensive drill programme.
The Awkward target and the Wishbone prospect are both being drilled in a campaign that follows on from a successful programme of development earlier in the year that took place at the Winston tailings project.
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Panther raised £2.5 million in mid-June to fund the ongoing drilling. The upside is significant, and the backstop support of Winston and the potential cashflow there makes Panther look like a well-balanced company. The shares have dipped slightly, following the placing, but are still up by more than 50% over the past 12 months. Premier Miton clearly sees value at these levels.