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The latest announcement is out from Pantoro Gold Limited ( (AU:PNR) ).
Pantoro Gold has entered a partnership with privately owned Mega Resources and Bain Global Resources to fund and process ore from the high grade Rama Open Pit in Western Australia’s Forrestania region. Pantoro will advance up to $20 million, secured by a first ranking interest over the project, to finance stage two of the open pit, with repayment tied to gold deliveries and capped at eight months.
Under the deal, Mega will deliver all ore to Pantoro’s Norseman processing plant, where Pantoro will batch process the material and share revenue on a sliding scale, retaining 20–30% of the reconciled gold value in addition to loan interest and principal. The high grade Rama ore is expected to replace lower grade stockpile feed at Norseman and could enhance margins, while an exclusive 12 month option over a potential underground operation offers Pantoro a pathway to extend mine life and secure further high grade production through a future profit share arrangement.
The most recent analyst rating on (AU:PNR) stock is a Buy with a A$4.90 price target. To see the full list of analyst forecasts on Pantoro Gold Limited stock, see the AU:PNR Stock Forecast page.
More about Pantoro Gold Limited
Pantoro Gold Limited is a Western Australia based gold producer focused on developing its 100%-owned Norseman Gold Project, one of the country’s highest grade goldfields. The company targets long term growth in the WA mining sector through operational excellence and strategic exploration, leveraging its processing facilities to maximise value from high grade regional ore sources.
Average Trading Volume: 3,009,076
Technical Sentiment Signal: Buy
Current Market Cap: A$1.5B
Find detailed analytics on PNR stock on TipRanks’ Stock Analysis page.