Panthera Resources PLC (LON:PAT) saw its shares jump on Friday after it said investee company Anglo Saxony Mining has secured £1mln of investment from Baker Steel.
The cash will allow it to push on with a pre-feasibility study of its flagship Tellerhäuser project, an undeveloped tin deposit in Germany, after a successful round of pilot plant test-work.
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In the same announcement, it was revealed the privately-run business has agreed to buy the Gottesberg tin asset, some 28-kilometres from Tellerhäuser in an all-share deal.
Panthera, which is focused on gold exploration and development in India and West Africa, owns 17.2% of Anglo.
In afternoon trading, shares in Panthera Resources were 15.6% higher at 9.25p.
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