Pantheon Resources Plc has released an operational update on Alkaid Project

Pantheon Resources Plc (LON: PANR) has released an update on its 89.2 – 100 per cent owned projects on the Alaskan North Slope Alkaid Project.

  • Great Bear Pantheon, the company’s Alaska subsidiary, has gotten notice from the Alaska Department of Natural Resources (DNR) that the application to form the Alkaid Production Unit of 22,804 acres is through and entitled for ratification.
  • The company has stated that it is a major development as the Unit will broaden the leases for the Greater Alkaid project area outside their primary term, because it provides a clear pathway to production.
  • On 1 September 2020, at the time of writing, GMT 09:42 AM, PANR shares were trading at GBX 24.80, up by 2.45 points or 10.96% against the previous day closing price.

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