Sign up Australia
Proactive Investors - Run By Investors For Investors

Pantoro Ltd in the process of upgrading to produce up to 100,000 gold ounces per year

Pantoro Ltd (ASX:PNR) managing director Paul Cmrlec speaks to Proactive Investors about the gold producer's operations at the multi-faceted Halls Creek Project, in the Kimberley Region of Western Australia.

At the original Nicolsons underground mine, new equipment is being deployed to take annual gold production from 55,000 ounces to 80,000-100,000 ounces. "It's been a really strong ore body. We've had in the order of 1,500 ounces per vertical meter the whole way down, and that's approximately double what we started with, so it's been a great performer," says Cmrlec.

Speaking about other key areas in Halls Creek Project, Cmrlec says, "we finished open pit mining at Wagtail in December last year. The start of this year has been all about getting all the approvals to start underground mining. We've continued drilling there through the entire period as well, so recently put a new mineral resource and ore reserve update out... within the next one to two weeks we'll be taking the first development rounds at Wagtail." 

In the wider area, Pantoro Ltd has picked up two historical projects, Grant's Creek and Mary River, as an exploration play.

The company aims to have its processing facility at Nicolsons, which is the only one of its type for 300 kilometers, being fed by multiple sources. "We've been amongst the lowest-cost producers in Australia for the last several quarters. We expect that to continue on, and we should see the cost decreasing further as our plant upgrade kicks in... we've got a lot of major projects wrapping up as we speak, and that's going to see us in a very good position in the second half of this year," says Cmrlec.

Meet Arix Bioscience Plc, Avacta Group Plc and Silence Therapeutics plc at our event, London , 04 October 2018. Register here »
View full PNR profile View Profile

Pantoro Ltd Timeline

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use