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PANTORO LIMITED


Sector: Mining

Industry: Gold mining

The Australian based single asset gold producer has no debt and is great value because its production is increasing 60%. Plus, it has potential in an exploration asset it is purchasing, which should mitigate the single mine risk over time.

WHY WE LIKE IT

This month Pantoro announced its Nicolsons Gold Mine in the Kimberley region in North Western Australia is increasing annual production by 60% from a run-rate of ~50k ounces a year to ~80kozpa, while its annual cost of production will come off from A$1217 an ounce in the March 2019 quarter to being closer to A$1,000-A$1,100/oz. This makes it one of the lowest cost producers in Australia, with the current gold price near A$2,000 an ounce. The company has also made a significant acquisition, but importantly, carries no debt and has close to $65m in cash, which should be enough to fund development.

WHAT'S NEW?

Pantoro’s shares have remained depressed because of a capital raising of $43m at 20 cents a share in May to partly fund the A$111m purchase of a controlling 50% interest in the Central Norseman Gold Project, which lies ~180km south of Kalgoorlie in Western Australia. This is being funded without debt and provides an option on growth with a high grade gold resource base totalling 4.4m ounces.

**Estimate; includes gold and August 2020 capital raising.

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  • Radar Rating Unlock
  • Market Cap ($m)* 267.6
  • Dividend Yield (%)* 0
  • NET CASH ($M) 47.2
  • * Data as of 18 November 2021

Latest Research Summary

PANTORO : RESEARCH TIP UPDATES - JANUARY 2021
14 Jan, 2021

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Previous Research

Research Date Radar Rating  
PANTORO : RESEARCH TIP UPDATES - JANUARY 2021 14 Jan, 2021 25e7013d View Research
PANTORO: RESEARCH TIP UPDATE - AUGUST 2020 20 Aug, 2020 dba3d9fc View Research
PANTORO: RESEARCH TIP UPDATE - JANUARY 2020 23 Jan, 2020 430aeb57 View Research
PANTORO LIMITED: RESEARCH TIP UPDATE - OCTOBER 2019 24 Oct, 2019 04161ce6 View Research
PANTORO LIMITED: RESEARCH TIP UPDATES - JULY 2019 10 Jul, 2019 0d3e7cf4 View Research
PANTORO LIMITED: RESEARCH TIP - JULY 2019 03 Jul, 2019 06811282 View Research