Mineral exploration company Panther Metals Plc introduces a strategy of utilizing Bitcoin alongside traditional mining assets, which has led to a surge in its stock price.
Company Strategy of Panther Metals Plc
The UK-listed Panther Metals Plc announced an investment of £4 million (approximately $5.4 million) in Bitcoin for its treasury strategy. The company plans to use Bitcoin securities as collateral for an acquisition.
Acquisition of Pick Lake Deposit
The firm intends to utilize £1.3 million ($1.75 million) worth of Bitcoin from its treasury as collateral to finalize the acquisition of the Pick Lake mining deposit in Ontario. This allows the company to retain its overall Bitcoin exposure.
Stock Market Performance of Panther Metals
Following the announcement of its strategy, shares of Panther Metals surged by 21% on the London Stock Exchange on Monday. Over the past month, shares have increased by 125%, with a 55% rise in the past week.
The adoption of Bitcoin in its strategy will enable Panther Metals Plc to manage its assets effectively while leveraging the flexibility of digital capital in a volatile financial environment.
