An announcement from Pantoro Limited ( (AU:PNR) ) is now available.
Pantoro Gold Limited reported a quarterly production of 18,334 ounces of gold, which was below the guidance range due to delays in the Scotia Underground Mine ramp-up. Despite this, the company maintained strong cash flow and operational cost control, ending the quarter with a cash and gold position of $132.4 million. The company also announced a name change and equity consolidation, alongside a reduction in debt through the conversion of a convertible loan facility. Production guidance for the next quarter is set between 23,000 and 26,000 ounces, with full-year guidance to be provided later.
More about Pantoro Limited
Pantoro Gold Limited is a Western Australia-based gold producer focused on its 100%-owned Norseman Gold Project. The project is located in the Eastern Goldfields of Western Australia and is part of the highly productive Norseman-Wiluna greenstone belt. Pantoro Gold has been actively expanding its operations since 2019, with a strategy centered on increasing underground mining and scaling production, aiming for substantial growth in the coming years.
YTD Price Performance: 105.10%
Average Trading Volume: 2,411
Technical Sentiment Signal: Sell
Current Market Cap: €668.6M
For detailed information about PNR stock, go to TipRanks’ Stock Analysis page.