Production increase for Pantoro

Gold miner Pantoro overcame lower than anticipated production in January at its Norseman gold project to produce 19,235 ounces of gold for the March 2024 quarter, up from 18,185oz in December 2023. 

This total marked the company’s fifth consecutive quarterly production increase - and included a record yield of 8,298oz for the month of March.

Production was interupted at Norseman due to personnel availability and transition of the company's open pit contractor. 

Paul Cmrlec-led Pantoro also provided an update regarding the status of its Halls Creek gold project, which was placed on care and maintenance last July.

“Pantoro is continuing to advance negotiations with multiple parties for divestment of the Halls Creek asset with indicative offers received from multiple parties,” the company said.

“Negotiations are ongoing and there can be no certainty that a transaction will be completed.”

In August last year, Pantoro tapped investors for $30 million in a bid to not only advance activities at Norseman, but also meet higher than expected transaction costs from its merger with Sydney-based Tulla Resources. 

With no activities at Halls Creek, a number of key personnel were transferred to Norseman, which Mr Cmrlec said was enhancing the operation. 

West Perth-based Pantoro closed trade at 7.8 cents per share, down 3 per cent.