Pantoro Gold Ltd (ASX:PNR, OTC:PNTOF) shareholder Tulla Resources Group Pty Ltd, an associate of non-executive director Mark Maloney, has today sold 25,803,360 shares in the company.
The sale follows the recent retirement of Kevin Maloney from the board at the company’s Annual General Meeting and is described as reflecting Tulla Resources’ long association with, and significant investment in, the Norseman Gold Project over the past 13 years.
Pantoro Gold acquired its initial interest in the 100%-owned Norseman Gold Project in 2019 and subsequently merged with Tulla Resources plc in June 2023.
“Tulla Resources has undertaken this sale as part of a strategy to return capital to its principals and to free funding for its other resource projects," Maloney said. "Tulla Resources retains a significant shareholding in Pantoro Gold, representing 6.11% of the register, and is committed to the long-term success of the company. At this time, we have no intention to sell any further shares. I will continue as a non-executive director and remain strongly supportive of the company’s growth strategy and future.”
Pantoro reports visible, high-grade gold at Norseman
Pantoro recently reported visible and high-grade gold intercepts from drilling at its Norseman Gold Project in Western Australia, highlighted by a standout result of 2.4 metres at 43.19 grams per tonne gold.
The company said drilling at the Crown Reef has returned consistent high-grade gold across multiple holes in an area that has not been mined since the 1970s and is now emerging as a growing zone of mineralisation. Pantoro noted that Crown Reef has historically been known for visible gold and said it was pleased to see that characteristic continue in recent drilling.
