September 10, 2025 — Buried riches often lie in plain sight, and Panther Metals PLC (LSE: PALM) believes the overlooked tailings of Ontario’s Winston Lake mine could bankroll its next chapter of discovery. Founded to “rapidly decipher potential commercial viability and act accordingly,” the company has assembled a three-property portfolio in mining-friendly Ontario and now trains its sights on re-processing what CEO Darren Hazelwood calls “an on-surface ore body.” “Our own internal numbers—which we are confident are conservative—show contained value north of C$700 million in the tailings pond,” he told InvestorNews.com host Peter Clausi, adding that early sampling “confirmed our best hopes, and in fact exceeded them.”
The strategy is elegantly simple: use near-term cash flow from tailings to fund long-horizon exploration. Pick Lake, a 2021 feasibility-study asset with an 8.5-year mine life and a pre-tax NPV8% of C$176 million, will “park for now,” Hazelwood said, because Winston already boasts power, roads and a water-treatment plant. “We want to pay for exploration at Pick Lake out of cash flow from Winston tailings, instead of continually going back to investors,” he explained, emphasizing the discipline of protecting share structure after more than one million warrants expired unexercised in August.
Hazelwood’s confidence is buttressed by the recent arrival of Kerem Usenmez, the geological engineer who led that 2021 study. “He absolutely loves this project,” the CEO recounted. “I called him the next day and asked him to join us in an advisory capacity… That made my month.” Usenmez’s deep ties to Canadian capital markets and to local First Nations are expected to smooth Panther’s ambitious timetable: a single, grid-pattern drill program on the tailings this month, a compliant resource estimate by Christmas, and a definitive feasibility study (skipping the pre-feasibility stage) in the first half of 2026.
Regulatory momentum is already visible. On September 1 Panther announced it had formally kicked off the Application for Recovery of Minerals Permit with Ontario’s Ministry of Energy and Mines, gaining a dedicated point of contact after a pre-submission meeting that Hazelwood described as “very positive.” The existing closure plan, active environmental monitoring and “excellent onsite infrastructure”—including a 115 kV power line, all-weather road to the Trans-Canada Highway, and an active water-treatment plant—are expected to accelerate the permit’s four-stage path.
Tailings from Winston’s 1988-1998 operations were deposited when gold fetched barely US$250 an ounce and zinc dominated mine economics; tests now reveal up to 0.81 g/t gold alongside indium, gallium, copper and zinc. “Think of tailings as an on-surface ore body,” Hazelwood said. Processing will occur beside the water-covered pond to avoid dust and trucking risks: “Only concentrate leaves the site.”
Exploration upside remains tantalizing. Two parallel structures, each roughly 3.5 km long and a kilometre apart, “have never been fully explored,” the CEO noted, recalling surface samples of 8% zinc and 1% copper just three kilometres north of Pick Lake. Yet the near-term focus is unambiguous. “We’ll imminently announce a drill program on the tailings,” Hazelwood said, promising that the company will move “straight to DFS” and then to debt funding. Investors, he suggested, should watch for a fast-tracked resource, a streamlined permit, and the first steps toward cash-generation as Panther transforms a legacy mine site into a modern engine of value and sustainability.
To access the complete interview, click here
Don’t miss other InvestorNews interviews. Subscribe to the InvestorNews YouTube channel by clicking here
To learn more about Panther Metals PLC, click here
Disclaimer: Panther Metals PLC is an advertorial member of InvestorNews Inc.
This interview, which was produced by InvestorNews Inc. (“InvestorNews”), does not contain, nor does it purport to contain, a summary of all material information concerning the Company, including important disclosure and risk factors associated with the Company, its business and an investment in its securities. InvestorNews offers no representations or warranties that any of the information contained in this interview is accurate or complete.
This interview and any transcriptions or reproductions thereof (collectively, this “presentation”) does not constitute, or form part of, any offer or invitation to sell or issue, or any solicitation of any offer to subscribe for or purchase any securities in the Company. The information in this presentation is provided for informational purposes only and may be subject to updating, completion or revision, and except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any information herein. This presentation may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on the opinions and assumptions of the management of the Company as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein.
Any projections given are principally intended for use as objectives and are not intended, and should not be taken, as assurances that the projected results will be obtained by the Company. The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition or results of operations may negatively impact the value of its securities. This presentation should not be considered as the giving of investment advice by the Company or any of its directors, officers, agents, employees or advisors. Each person to whom this presentation is made available must make its own independent assessment of the Company after making such investigations and taking such advice as may be deemed necessary. Prospective investors are urged to review the Company’s profile on SedarPlus.ca and to carry out independent investigations in order to determine their interest in investing in the Company.
Leave a Reply