Public Class Form1
 
    Private mpBase As Point
    Private mpSize As Size
    Private mouseBorder As Boolean
    Private mouseMove As Boolean
 
    Private Sub Panel1_MouseDown(ByVal sender As Object, ByVal e As _
      System.Windows.Forms.MouseEventArgs) Handles Panel1.MouseDown
        If e.Button = Windows.Forms.MouseButtons.Left AndAlso mouseBorder Then
            mouseMove = True
            mpBase = New Point(e.X, e.Y)
            mpSize = Panel1.Size
        End If
    End Sub
 
    Private Sub Panel1_MouseUp(ByVal sender As Object, ByVal e As _
      System.Windows.Forms.MouseEventArgs) Handles Panel1.MouseUp
        mouseMove = False
    End Sub
 
    Private Sub Panel1_MouseMove(ByVal sender As Object, ByVal e As _
      System.Windows.Forms.MouseEventArgs) Handles Panel1.MouseMove
 
        If mouseMove Then
            Panel1.Size = New Size(mpSize.Width + e.X - mpBase.X, mpSize.Height _
              + e.Y - mpBase.Y)
        Else
            Dim mrec1 As Rectangle = Panel1.ClientRectangle
            Dim mrec2 As Rectangle = mrec1
            mrec2.Inflate(-2, -2)
            Dim mp As Point = New Point(e.X, e.Y)
            If mrec1.Contains(mp) And Not mrec2.Contains(mp) Then
                Panel1.Cursor = Cursors.SizeAll
                mouseBorder = True
            Else
                Panel1.Cursor = Cursors.Default
            End If
        End If
 
    End Sub
 
End Class

Those people who think they know everything are a great annoyance to those of us who do - Isaac Asimov