Pan Global Resources Discusses $6M Financing, Plans for Advancing Copper Projects

• Pan Global Resources raised $6M in recent financing, more than original $2M target due to high interest
• New capital positions company to advance projects despite tough markets
• Key goals are expanding resources at Zarcita copper discovery and drilling new targets like Cañada Honda
• Financing brings in new institutional investors, especially from Europe
• CEO believes copper fundamentals strong long-term; wants Pan Global to be a top investment pick when markets turn

Pan Global Resources, led by President and CEO Tim Moody, has its sights set on becoming a leading copper company in Spain. Operating in the prolific Iberian Pyrite Belt, Pan Global Resources is advancing a portfolio of copper projects and targets, headlined by the La Romana discovery. With recent volatility in equity markets, junior mining companies face challenges raising capital to move projects forward. However, interest remains high for quality copper opportunities like those Pan Global is developing.

A Sign of Strength in a Tough Market

In a recent financing, Pan Global initially set out to raise $2 million but was met with strong investor demand. Given the oversubscription, the company intelligently took advantage and closed on $6 million instead.

As Moody explained, "Although there is some dilution, the extra capital gives us a longer runway in uncertain times."

The successful financing is a validation of Pan Global's copper assets and approach. While the Company considered keeping the books closed after $2 million and waiting for improved market conditions in 2024, ultimately deciding to take the additional funds now was a savvy strategic move. The risks of sitting idle in the mining sector are real. As Moody cautioned, "Giving investors less reason to invest in Pan Global would be a mistake."

Diversified Investor Base Adds Stability

Equally important, the financing brought in new institutional investors, especially from Europe. Having a more diversified shareholder base helps insulate Pan Global from issues like tax-loss selling. The financing attracted both new investors and existing shareholders - a healthy mix according to Moody. The ability to attract fresh institutional investment despite challenging markets speaks to the quality of Pan Global's projects.

A Stronger Cash Position to Drive Development

With the financing closing around the end of October 2023, Pan Global Resources will have approximately $7 million in the treasury. This enhanced financial position allows the company to confidently push forward, even if markets remain uncertain in 2024. Some key initiatives on tap include:

• Expanding resources at the La Romana discovery, with the goal of publishing a maiden resource estimate in 2024
• Additional drilling at Romana to further grow the deposit, with 25 new holes underway
• Following up on positive initial results at the Cañada Honda target to delineate a new discovery
• Drilling high-potential earlier-stage targets that have been advanced to drill-ready status

Unlocking Value in Spain's Copper Belts

As Moody stressed, copper remains one of the best commodities for the long term, underpinned by decarbonization and electrification trends. Pan Global Resources has positioned itself in an ideal jurisdiction with its projects in Spain. The geological upside in underexplored areas of Spain's copper belts is substantial. Romana illustrates the potential. Discovered by Pan Global in 2018, the initial holes returned some of the best copper intersections ever drilled in the region. Ongoing drilling continues to expand the zone.

While optimistic about the future, Pan Global's leadership team is taking a measured approach in the current market environment. They are open to evaluating strategic opportunities and partnerships but will only consider transactions that recognize the inherent value of the assets.

As Moody affirmed, "I want to protect the long-term interest of what we've got."

The commitment to creating shareholder value by methodically advancing Pan Global's projects in Spain comes across loud and clear.

Ready to Shine When the Markets Turn

Moody highlighted that one of Pan Global's key objectives in 2023 was "positioning the company to be one of the top investments in the copper space when markets improve." The successful financing was a critical step in accomplishing this goal. Pan Global now has the funds to make meaningful progress on defining copper resources and new discoveries over the next 12-18 months.

When sentiment eventually turns more positive on the mining sector, investors will be looking for quality copper opportunities. With drill-ready targets, compelling geology, a tight share structure, and leadership dedicated to prudent advancement, Pan Global Resources checks all the boxes. The company has positioned itself well, as Moody put it, "to be one of the first choices" when capital flows back to the copper sector. For investors with a bullish long-term outlook on copper, Pan Global merits a close look.

The Investment Thesis for Pan Global Resources

• High-grade copper discovery at La Romana provides base asset with substantial resource growth potential
• Pipeline of additional copper targets in underexplored areas of prolific Spanish belts
• $6M financing funds resource definition and new target drilling
• Proven management team with a track record of discovery success
• Tight share structure and strong institutional support provide a solid platform as markets improve