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The Markets
by Proactive
Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
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The Markets
by Proactive
Proactive UK has moved.
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Go to Proactive UK
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The Markets
by Proactive
Proactive UK has moved.
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Mining

Pantoro Ltd finds on market support from substantial shareholder

Pantoro Ltd (ASX:PNR) has seen one of its largest shareholder, Robmar Investments, increase its ownership to 15.4% through the purchase of 10.4 million shares on-market.

The on-market purchasing was done using a number of trades throughout the months of October and November.

Total consideration for the shares amounted to $1.81 million.

Pantoro’s flagship asset is its 100% owned Halls Creek Project in Western Australia.

The project hosts the producing Nicolsons underground gold mine and the Rowdies and Wagtail open pits where mining has started recently.

First production of gold was achieved in September 2015 and the production profile continues to grow as Nicolsons looks to become one of the lowest cost, highest grade underground gold mines in Australia.

With open pit mining having recently commenced, the ramp up to 50,000 ounces per annum of gold production by the March quarter of 2017 is well advanced.

The stock continues to have a strong trading year up 185% in 2016 to $0.18 per share.

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