Pantoro Set To Lift In 2016 As Increased Gold Revenues Beckon

Jan. 04, 2016 5:46 PM ET
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Pantoro (ASX:PNR) formerly Pacific Niugini has received a notice of change of interest from substantial shareholder Robmar Investments Pty Limited.

The 7.79 million shares were acquired at an average price of $0.0625 a share from October to December 2015.

The past year saw Pantoro transition from an explorer and developer to a gold producer at the Nicolsons' mine, quite an achievement in just over a year since project acquisition.

Nicolsons is located 35 kilometres south west of Halls Creek in Western Australia and has an existing 120,000 tonne per annum CIP processing plant on site.

The project boasts lower than industry average costs and greatly positive grade and metal reconciliations.

A total of 14,400 ounces of gold is hedged at $1,568 per ounce, deliverable quarterly over 22 months commencing March 2016.

Short term focus is on achieving <$1,000 per ounce total costs.

Gold output is rapidly increasing and expected to be at full production in Q1 2016.

Current cash and gold at mint in November 2015 was $7.9 million.

While the Pantoro share price has moved ahead since July 2015 there is further scope for gains based on expected growth in revenue and EBITDA in 2016 and an undemanding current market valuation of $31 million for a WA gold producer.

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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