Panoro Secures Funding for 2026 Drilling to Expand High-Grade Cotabambas Resource

Panoro Minerals ( (TSE:PML) ) has shared an announcement.

Panoro Minerals has outlined a fully funded 15,000-metre drilling program for 2026 at its Cotabambas copper-gold-silver project in Peru, targeting infill drilling at the North Pit, step-out drilling south of the South Pit, and initial tests of two nearby satellite targets to upgrade and expand high-grade resources. The program is backed by approximately $17.3 million in recent and expected financings and project-related payments, allowing Panoro to advance Cotabambas’ high-grade core and potentially enhance the project’s scale, economics, and competitive standing among global copper-gold projects.

The company’s recent equity raises and non-dilutive cash inflows, including proceeds tied to its Antilla project, strengthen its balance sheet while limiting shareholder dilution and supporting ongoing exploration. With a low strip ratio, straightforward metallurgy, and existing infrastructure at Cotabambas, Panoro aims to convert more high-grade inferred resources to indicated, extend mineralization, and de-risk the project further, developments that could be significant for investors seeking exposure to long-life copper and gold assets in Peru.

The most recent analyst rating on (TSE:PML) stock is a Hold with a C$0.42 price target. To see the full list of analyst forecasts on Panoro Minerals stock, see the TSE:PML Stock Forecast page.

Spark’s Take on TSE:PML Stock

According to Spark, TipRanks’ AI Analyst, TSE:PML is a Neutral.

The score is held down primarily by weak financial performance (pre-revenue losses and ongoing cash burn), partially offset by a low-leverage balance sheet. Technicals are supportive with a strong uptrend, but overbought signals raise near-term pullback risk. Valuation provides limited support due to negative earnings and no dividend.

To see Spark’s full report on TSE:PML stock, click here.

More about Panoro Minerals

Panoro Minerals is a Canadian mineral exploration company focused on large-scale copper and gold projects in Peru, a jurisdiction it highlights for strong geological potential and supportive political and economic conditions. Its flagship Cotabambas project in the Andahuaylas-Yauri province hosts a one-billion-tonne resource with significant copper, gold, and silver, including a substantial high-grade component that underpins the company’s growth strategy and positions it among emerging Andean copper-gold developers.

Average Trading Volume: 169,343

Technical Sentiment Signal: Buy

Current Market Cap: C$227.3M

For an in-depth examination of PML stock, go to TipRanks’ Overview page.