# PNR - Pantoro Limited



## System (11 August 2010)

Pacific Niugini Ltd (PNR), formerly Chrome Corporation Limited (CCI), is a Perth-based mining company, focusing on mineral exploration, evaluation and development.

Previous discussion of this company can be found in the CCI thread: https://www.aussiestockforums.com/forums/showthread.php?t=4228


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## springhill (26 July 2012)

*Re: PNR - Pacific Niugini*

MC - $52m
SP - 21c
Shares - 251m
Options - 25m
Cash - $10.7m

*Bulolo Project – Morobe Province:*
• Excavation and processing of 40 bulk samples and two drill holes completed within EL1616. Test pits were excavated in both virgin gravel areas and previously dredged areas. Samples were dispatched to Burnie Research Laboratories in Tasmania with results pending.
• Results from the initial bulk sampling program at Widubosh were received. An infill test program is planned to be undertaken at Widubosh.
• Major structural and processing components for the PNR owned processing plant are near completion, with finalisation of the plant awaiting government approval processes and assay results.

*Garaina Project*
• Detailed interpretation of magnetic and radiometric data at Kusi identifies a favourable large magnetic high zone with a non-magnetic core and coincident potassium high radiometric data, suggesting the presence of an intrusive body which has been intensely altered.
• Magnetic anomalies identified at the Sim and Kasuma prospects are indicative of underlying intrusive bodies prospective for discovery of major ore deposits with porphyry deposit potential around the large magnetic anomaly areas, and epithermal mineralisation potential in structural features persistent in the tenement area.
• Step out mapping, soil sampling and trenching continues to expand the footprint of known mineralisation at Kusi. Initial reconnisance exploration at Sim is underway.

*Gusap Project*
• Munambe Prospect on newly granted Mutzing tenemnet accessed, with a large zone of argillic to advanced argillic alteration identified with presence of copper and gold mineralisation confirmed (up to 3.5% Cu and 8% Zn returned). Systematic ridge and spur and costean sampling is underway.
• Infill heli-magnetic and radiometirc survey completed over Munambe prospect. Data suggests structural features radiating from an intrusive body. The central intrusive body is still to be accessed.
• Exploration at Yanangon continues to expand the footprint of known mineralisation. First phase of reconnisance exploration is completed and data review is underway.


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## springhill (4 April 2013)

*Re: PNR - Pacific Niugini*

PNR announce $21m farm-out agreement over Garaina Prospect. The buy v sell supply tends to suggest the gradual decline in SP over a long period may be over. Continued consolidation or indeed value increase looks to be on the cards.

MGL to earn up to 70% by spending up to $21m on exploration.

Pacific Niugini Limited (“PNR”) is pleased to advise that it has agreed terms with MGL Limited (“MGL”) to enable MGL to earn up to a 70% interest in it’s Garaina Prospect by spending up to $21m on exploration. MGL is a privately owned company lead by successful Australian mining executives with extensive experience in exploration for copper-gold porphyry systems, and recent operational experience in PNG.

Pacific Niugini has completed extensive reconnaissance exploration at Garaina, which has resulted in the project being rapidly advanced from a green fields exploration prospect to a drill ready target. During the past two years, PNR has completed extensive geochemical sampling, manual trench sampling, ground and airborne geophysical surveys and reconnaissance drilling. The work has resulted in the delineation of an outstanding “WafiGolpu” style epithermal gold and porphyry copper-gold target. MGL has reviewed the exploration programs completed by PNR to date, and has formulated an exploration strategy aimed at discovery of a major mineral system, with drilling planned to commence in the near term.

Under the terms of the farm-in agreement:
-MGL will spend $6 million on exploration to earn 50.1% of the project. 
-A minimum of $3,000,000 and 2,500 metres of diamond drilling are required to be completed before MGL can withdraw from the Farm-in. Further, MGL is required to pay PNR any shortfall in expenditure in the event that MGL wish to exit early.
-Once MGL has earned 50.1% interest, PNR can elect to either contribute to maintain its 49.9% interest and a Joint Venture will be formed.
-PNR can elect to further dilute to a 30% interest. IF this occurs MGL must carry the next $15m of exploration expenditure over a further 3-year period to earn a further 19.9% interest (70% total interest). 
-Once MGL has earned a 70% interest a Joint Venture will be formed.
The agreed terms are intended to be binding on both parties, and formal farm-in and joint venture documentation is being finalised.

Pacific Niugini has agreed to provide it’s highly experienced team of PNG geologists and field staff to implement MGL’s work programs. MGL has advised it expects to undertake further project assessment and planning for a one to two month period ahead of drilling.


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## System (8 December 2015)

On December 8th, 2015, Pacific Niugini Limited changed its name to Pantoro Limited.


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## barney (10 January 2017)

Given not much has been written on PNR, and given I think it has more potential than 99% of all ASX Specs at present, and given I own a lot of them, the info needs to be ramped (sorry, shared)

Seriously though, anyone interested in quality Gold Specs should be checking this company out ... 

Courtesy of a link posted by "Ormond" over at HC, here is a News item from http://www.news.com.au online today

Low cost producer with high grades and multiple targets around the same area
---------------------------------------------------------------------------------------------------------

*Pantoro on track for Nicolsons expansion*
January 10, 20172:20pm
Newsbites Finance

*Shares in Western Australian based gold producer, Pantoro (ASX: PNR), were well supported on Monday after the company indicated that its production expansion strategy at the Nicolsons project was tracking well. Yesterday's intraday high of 21 cents was an all-time high since the group acquired the Nicolsons Find mine located in Halls Creek in April 2014.*

Production for the three months to December 31, 2016 of 9,600 ounces represented an increase of 30% on the previous corresponding quarter.

The company also achieved record monthly gold production in December of 4,627 ounces. On an annualised basis this implies production of more than 50,000 ounces.

Trevor Hoey of finfeed.com suggests Bell Potter is on the mark with its expectation of fiscal 2018 production of 55,000 ounces. The broker forecasts that this would generate a net profit of $32 million in that year, representing earnings per share of 4.2 cents, implying a PE multiple of 4.8 relative to yesterday's closing price of 20 cents.

This appears conservative, particularly for a company that stands to benefit from a strong Australian dollar gold price.

Based on the current spot US dollar price of circa US$1,180 the Australian dollar gold price is in the order of $1,600. Given that Bell Potter is forecasting PNR's all in sustaining costs to be in the order of $780 per ounce in fiscal 2018, this leaves a robust margin of $820 per ounce.

Bell Potter has a buy recommendation on the stock, and after increasing its earnings per share estimates for fiscal 2017 by 14%, the broker has lifted its price target from 24 cents to 26 cents, representing a 30% premium to yesterday's closing price.


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## barney (3 July 2018)

PNR recently tested the breakout area above previous highs but has retraced since given the price of Gold has been wobbly. Gold still looks like it has further to fall to me but current SP on PNR is holding very well considering.  The sell side is looking thin and they will likely have a resource upgrade on the way which I expect to be excellent yet again.  Likely more consolidation for now but Id rather be in than out if the POO starts to rise. Management are real doers and very happy to hold this little goldmine


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## barney (4 July 2018)

Link to a recent CommSec Interview with Managing Director Paul Cmrlec …… He simply gets on with business and gets things done …. brilliant Manager


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## barney (11 October 2018)

PNR has been in the doldrums last couple of months with the share price tumbling 50%. Apart from Goldies in general being belted, PNR have struck a few issues with the stoping/drilling at the southern end of the current drill site which has resulted in a short term cost blow out.

Share price is currently holding ok considering but management will be looking to improve the profit margins substantially before the rot sets in …. Will update thread as it pans out.

On the positive side, they continue to drill up excellent grades etc from the ongoing exploration so the longer term outlook is still strong.
ps. A couple of posts ago I typed the POO when I meant the POG .. just correcting myself


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## barney (6 December 2018)

PNR looks to have found its current lows assuming the Stoping problems/profit margins have been improved.

Back above the recent Cap Raise level which was always on the cards given the Sophisticated Investors don't generally like taking losses

Company is still well placed for the future ….. Tidy drilling results from their recent acquisitions will add to their resource base and Nicolsons is still expanding.


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## barney (4 January 2019)

PNR is my major pick in the 2019 Yearly Tipping Comp … Quick update since last post ..

Price as suggested early in December has held at the lows and is currently *consolidating in the 18.5-20.5 cent region.*

*Major Shareholder Robmar Investments* continue to increase their stake in the Company with more on market buying during November-December and now hold *20.7% of the Company*.

Recent drilling showed more good grades in their recently acquired Grants Creek Project.  5 metres at 9.25 g/t gold from 38 metres at the Perseverance prospect and 2 metres at 11.04 g/t gold from 46 metres at the Star of Kimberley prospect.

Hopefully they've sorted out the Stoping problems encountered over the past couple of months at South Nicolsons and can get the short term balance sheet back into the black.


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## barney (7 January 2019)

barney said:


> Hopefully they've sorted out the Stoping problems encountered over the past couple of months at South Nicolsons and can get the short term balance sheet back into the black.




Almost on queue …. PNR announced Quarterly production back to *12,657 ounces* with an AISC of around $1140/ounce

More high grade shoots discovered from 450 mtrs at Nicolsons and high grade shoots at the current open pit at Wagtails means they will now open up a second underground access.

Share price hasn't reflected the news, but this is exactly what they needed to get operations back on track …… Happy holder again after a few nerves last 2months


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## barney (18 January 2019)

barney said:


> Almost on queue …. PNR announced Quarterly production back to *12,657 ounces* with an AISC of around $1140/ounce
> 
> More high grade shoots discovered from 450 mtrs at Nicolsons and high grade shoots at the current open pit at Wagtails means they will now open up a second underground access.
> 
> *Share price hasn't reflected the news*, but this is exactly what they needed to get operations back on track …… Happy holder again after a few nerves last 2months




Since my last post PNR SP has actually risen around 20% so the market eventually caught up to what was positive news for their bottom line profits.  Chart is looking much healthier.


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## barney (19 March 2019)

Been consolidating within a small range since last post. Looking ok but a break above 27 cents would be more convincing.


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## barney (21 March 2019)

The latest drilling results announced early this week show Nicolsons ore continuing deeper which will increase the resource and mine life substantially.

Some of those veins are extra rich ….

*Latest Results:*

• 3.55 m @ *95.89 g/t* Au inc 1 m @ 317.0 g/t Au.

• 2.43 m @ *53.64 g/t* Au inc 0.75 m @ 114.0 g/t Au.

• 4.60 m @ *49.52 g/t* Au.

• 2.23 m @ *11.47* *g/t* Au.

• 1.5 m @ *19.62* *g/t* Au.

• 1.13 m @ *44.44 g/t* Au inc 0.7 m @ 70.1 g/t Au.

• 2.22 m @ *33.45* *g/t* Au inc. 0.3 m @ 80.8 g/t Au.

• 4.90 m @ *12.19* *g/t* Au inc. 1.05 m @ 51.27 g/t Au.

• 1.65 m @*17.69 g/t* Au

• 3.85 m @ *11.10 g/t* Au inc.1.2 m @ 25.63 g/t Au.


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## barney (26 April 2019)

Quarterly out.   Co. spent a lot of cash getting Wagtails ready to mine and still managed to bank nearly $2 million for the Quarter.

SP has been fairly stagnant but stable …… Management doing a great job however. Happy to hold for the foreseeable future


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## barney (8 July 2019)

Things can change quickly in the Small cap/Spec area ……. Since my last post in April, PNR share price has been kicked to the curb a few times, and todays Quarterly Update showed a few more issues with production targets …..

Even in this great Gold climate PNR SP was down well over 20% today and looking weak.  I still have high hopes for the Company but they need to sort out their production issues and start making profit again to get Investors back on side or I will be working till I'm 80


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## Trav. (8 July 2019)

Fickle bunch of shareholders or maybe a better word impatient. It's funny that the gold is not going anywhere and still requires to be mined safely and efficiently as possible. PNR have declared some delays but does this correlate with a +20% SP drop ??

Surely not. Hang in there mate and this will be a good turnaround story for 2019


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## Sean K (8 July 2019)

barney said:


> Things can change quickly in the Small cap/Spec area ……. Since my last post in April, PNR share price has been kicked to the curb a few times, and todays Quarterly Update showed a few more issues with production targets …..



 Looks like an overreaction barney. It's a short term hit, bit if the bigger picture is still ok then it looks a bit of a knee jerk.

Commenting on the quarterly results, Managing Director Paul Cmrlec said:

“Total production for the quarter and the planned ramp up to increased production rates by the end of the June quarter was below Pantoro’s expectation due to a number of factors as set out in this announcement. The primary driver to the lower production was the slower than anticipated ramp up in mining at Wagtail North in the latter part of the quarter. As a result, lower grade material mined from Nicolsons was processed to assist in gold output.
I hope the H&S doesn't play out through...


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## barney (8 July 2019)

Trav. said:


> Hang in there mate and this will be a good turnaround story for 2019





kennas said:


> Looks like an overreaction barney.




I love you guys …… in a tough macho guy kind of way that is

Seriously, I appreciate the support  ……. PNR have always been my Spec of the year pick …… I'm just not quite sure of the exact year now   lol ….  Cheers


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## peter2 (8 July 2019)

Seems like the next 12 months for PNR will be a developmental stage rather than a full production stage. They've got to dig further to get to the high gold zones in their underground mine and start a drilling program in their recently 50% acquisition of a CNG gold resource. The drilling program will provide data so they can plan a cost effective mining solution. Weekly variations in the POG won't influence PNR's share price much. Results of the drilling program will have more influence on the share price IMO. 

Although PNR was one of my 2019 selections and the share price fall has been disappointing, PNR deserves to be included in my "spec" watch list.


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## barney (8 July 2019)

peter2 said:


> Seems like the next 12 months for PNR will be a developmental stage rather than a full production stage ....  the share price fall has been disappointing, PNR deserves to be included in my "spec" watch list.




Yeah agree Peter …… there is too much Gold in the ground where they are digging for them to fail you'd think ……. It has always been an accumulate and hold Stock for me so I'm happy to sit out the short term disappointments at this stage.


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## barney (23 July 2019)

Things have improved with PNR but the SP has been behaving a bit like a Mexican jumping bean lately. 

I suspect a few games being played due to the Quarterly being negative and the smart money happy to extract shares from those getting nervous.

Always been a buy and hold trade for me so happy to see things on the improve

Who knows where it will head next …. Chart musings (or perhaps chart A-musings below)


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## barney (13 August 2019)

So a couple of weeks later ….. I am seeing a much better pattern evolve …. PNR is a long term hold for me so short term gyrations can be frustrating … but when longer term patterns make sense, it can be a relief …

I see mid/long term positives over the last couple of weeks … If the POG continues or just stabilises, PNR is in a good position to do well … as are most producing Goldies, big or small.

Given that assessment, any retracement to 21-22 cents should be well supported by Buyers … if not … baked beans again lol


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## barney (17 October 2019)

My last post back in August could not have been much more off the mark 

I can see it in hindsight (Chart noted) but at the time it was not so obvious. What looked like positive buying was actually well orchestrated Selling.  

Their last few Quarterlies etc have shown some problems resurfacing. Not sure why their AISC have continued to blow out but they are bleeding a lot of cash considering they are producing plenty of Gold.

The only positive I can try and salvage on the Chart is that wide ranging bars on high Volume can sometimes be pivotal for a reversal  …. no too confident about that given the cash burn however

SP currently back at the previous lows after the dump in July.  Under there will signal serious SP problems. Time to tighten up the seat belt on this one I think


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## barney (17 October 2019)

Appreciate your acknowledgement @trav so thanks for that

PNR management have been excellent …. Unfortunately, the pursuit of excellence can sometimes bite you in the bum when good intentions get sidetracked by economics

I have *no doubt* this Co. will succeed eventually, but I suspect the size of the pie they are trying to consume (in the short term) may be way bigger than their mouths realized 

On the flipside, management are proactive, so longer term Investors (As I am), may still see the benefits of their efforts.  

Tough times in the short term however


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## tech/a (18 October 2019)

Barney 
Technically I’d be surprised if this isn’t a bottom.

Low risk at the moment I think 
High volume wide range down bar.

It’s a counter intuitive signal.


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## barney (18 October 2019)

tech/a said:


> Barney
> Technically I’d be surprised if this isn’t a bottom.
> 
> Low risk at the moment I think
> ...



Yeah thanks Tech …. Hopefully it can at least form a base around the 15-16 area.


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## barney (27 December 2019)

Have picked PNR again in this years comp. Not my top pick but it looks a chance of a decent reversal if they can get their mine production up to scratch.  Norseman will start to add value in time as well so some potential positives if Gold stays strong.


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## peter2 (29 December 2019)

PNR - Another of my picks for the 2020 CY comp. Pantoro is currently producing gold at it's Halls Creek mine in the Kimberley. It has also bought into a resource in WA with Norseman. 
Another turnaround opportunity for 2020.


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## peter2 (17 January 2020)

The anticipated turnaround for PNR has been delayed. The market did not like the latest quarterly report. It seems that PNR is unable to control their production costs.


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## barney (17 January 2020)

peter2 said:


> It seems that PNR is unable to control their production costs.




I've removed quite a few eggs from this basket recently but what's left are looking pretty shaky.

In a period of record Gold prices these guys are battling to break even with projected production numbers not even 50% of what have been indicated to Shareholders. 

Costs involved in eventually getting Norseman plant up and running are estimated at around $25 million.  If they don't start making a few bob from Nicolsons, the cash left in the kitty will start to disappear very quickly and any future cap raise will likely be done at a hefty discount.

From something which was so promising 2 years ago its been a major disappointment on many levels. I suspect they need more experienced personnel to crunch some numbers on how they are running the operation because ever since the digging has gotten a bit trickier, they seem to have little idea how to manage expenditure. They should be banking millions per Quarter … unfortunately continuing to do the opposite  …. Long term probably still ok. Short term, time to "Wake up Jeff"


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## barney (17 March 2020)

barney said:


> I've removed quite a few eggs from this basket recently but what's left are looking pretty shaky ….  Long term probably still ok. Short term, time to "Wake up Jeff"




Have added more PNR over the last 2 days to what was left of my core holding. 

Why?  Chart looks terrible but price action indicates close to the lows.  The chart picture is actually one of my favorite patterns based around my old Forex trading exploits

Current market cap around $85 million with $25 million in the bank so the odds aren't bad.

Still a lot of work to do to turn the recent bleeding around but if Norseman is as good as they say there is plenty of room for upside.

Market seemed to like the fact they will not be hedged agaisnt the Gold price from the start of May. If the POG stays high their bottom line will be improved substantially.


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## barney (17 March 2020)

barney said:


> price action indicates close to the lows.




Announcement out while I was typing the above post.

Paul Crmlec buying $25K shares to top up his port folio.   Maybe that explains the price action

Always happy to see Directors etc buying on market


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## peter2 (14 April 2020)

From their recent announcement.

"Pantoro is in the fortunate position of being unhedged once the final 2000 ounces of pre-sold gold is delivered in April 2020.."  Managing Director, Paul Cmrlec.

I like the sound of that with the POG going higher.


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## barney (24 April 2020)

barney said:


> The chart picture is actually one of my favorite patterns based around my old Forex trading exploits




All those sleepless night trading Forex were good for something lol   The Chart looked a bit ordinary a couple of weeks ago but the Low was in as I suspected.

Been a nice rise since … expecting a consolidation period for now. Plenty of Gold being found at Norseman if they can get it out of the ground with a better AISC than Nicolsons things should tick along ok for the next 12-24 months.

Discl. Added at the Lows and Holding.


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## noirua (25 April 2020)

Princess Royal/Slippers Infill Drilling Confirms Multiple Ore Zones
23 April 2020
https://stocknessmonster.com/announcements/pnr.asx-6A976125/


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## barney (9 June 2020)

More good drilling results announced today at "Panda". Shaping up to be a very handy deposit.  SP due for another consolidation period I'd say.

New results from drilling which has been focused on the likely open pit footprint include: 
10 m @ 11.60 g/t Au 
9 m @ 12.98 g/t Au 
11 m @ 6.27 g/t Au 
4 m @ 11.54 g/t Au 
1 m @ 59.2 g/t Au 
4 m @ 9.94 g/t Au 
2 m @ 8.70 g/t Au 
7 m @ 4.59 g/t Au 
8 m @ 3.45 g/t Au 
4 m @ 5.21 g/t Au 
5 m @ 4.87 g/t Au 
7 m @ 4.97 g/t Au 
1.2 m @ 30.64 g/t Au 
2 m @ 7.08 g/t Au


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## Trav. (9 June 2020)

@barney I wonder how much they are paying for the Geo to follow the 'Line Of Lode'

Looks pretty obvious to me


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## barney (9 June 2020)

Trav. said:


> Looks pretty obvious to me ]




It does indeed. 

I just hope that Panda turns out to be as wide as Scotia, and they join together at depth


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## barney (24 June 2020)

Moved quicker than expected. Potential Breakout area above 25 cents but there are a lot of punters in profit now so some selling expected.


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## barney (24 June 2020)

Just home from doing some real work.  Surprised to see PNR momentum continue higher.

I'm not a pessimist but the rise is looking almost too exponential given the time till Norseman starts putting money in the kit.

I can't complain of course, but there will be a time of profit taking/consolidation not too far away one would think

It has always been a long term hold for me so either way I will ride the waves but I did manage to call the recent lows courtesy of all those sleepless nights trading Forex lol.  It's close to a 4 bagger in 3 months for anyone who got on at those levels so hopefully a few ASF'ers got on and made a few bob on the recent way up. 

Personally, I'm hanging out for it to become an ASX $1 billion dollar Company so I can become a man of leisure and spoil my wife with lavish gifts such as expensive beer and bourbon ... and maybe a new lawn mower with an electric start!  We can only dream


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## Trav. (25 June 2020)

barney said:


> but there will be a time of profit taking/consolidation not too far away one would think




@barney nice to see this take off for you mate. As you say after a nice rise there is often a profit taking / consolidation period but as you are long term you might just watch and wait 
*
OR ....  *_do you have a small trading parcel to take advantage of the pullbacks ??_

$0.26 looks like a really good support level and hopefully it doesn't retrace past there.



barney said:


> so I can become a man of leisure and spoil my wife with lavish gifts such as expensive beer and bourbon ... and maybe a new lawn mower with an electric start!




And geez what a lucky woman having yourself and the possibility of an electric start mower....yes very lucky woman.


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## barney (25 June 2020)

Trav. said:


> And geez what a lucky woman having yourself and the possibility of an electric start mower....yes very lucky woman.




 .... I might even extend my generosity to a new ironing board if she behaves. (PS If she happens to read any of this, I will see you all on the dark side)


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## barney (14 September 2020)

So, 3 months later and PNR is again struggling from a technical point of view  (Fortunately my wife did not read any of the above so I didn't have to buy her a new lawn mower or an ironing board)

PNR is at yet another pivotal point technically ... Fundamentally, they need to put some of that multi million dollar Gold project into production and prove that it is as good as they say it might be.  

No recent updates on their financials at Halls Creek is also a bit disconcerting.   So much potential, so little achievement!!  Come on boys!


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## noirua (13 October 2020)

Pantoro Limited PNR(Pantoro) is pleased to announce the results of its Definitive Feasibility Study (DFS) for the Phase One of the restart of operations at the Norseman Gold Project (PNR 50%). The DFS results outlined are on a 100% basis unless otherwise stated.
Https://mcusercontent.com/590e305fbfdff52fa70c2126f/files/d6de5e5d-53d6-4849-bd23-761322bae46c/12_10_20_DFS_Confirms_Attractive_Economics_and_Mine_Life_for_Phase_One_Norseman_Restart.pdf


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## barney (4 January 2021)

I still own a core holding of this little battler for the longer term.

So much potential over the next 2-4 years if they get Norseman up and firing.

Has been showing signs of life recently. We can only hope!


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## barney (21 January 2021)

Did this chart up yesterday and forgot to post it. Musings.


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## barney (10 February 2021)

The ball is starting to roll at Norseman with the construction contract awarded. PNR is a slow boat to be on but there is a lot of Gold in the ground when they finally start digging.

EPC Contract Awarded to GR Engineering for Norseman Gold Project 

Pantoro Limited (ASXNR) (Pantoro) is pleased to advise that it has provided a Letter of Intent for award of engineering, procurement and construction works for the processing facility at the Norseman Gold Project to GR Engineering Services (ASX:GNG) (GRES).

Detailed engineering works will commence immediately and orders will be placed for long lead items including the 3.3 MW ball mill. Contract documentation is being finalised and is expected to be executed before the end of February 2021. The contract value is approximately $57M

Contract Announcement


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## barney (18 February 2021)

The recent POG has not been friendly to Goldies in general.  

In reality PNR has held up ok. When you look at the big fellas like NST and NCM, it could be worse  

Chart below I posted on the Gold thread shows we are at the pivotal 50% level.   PNR is in a similar position.

Hopefully the worm will turn at the current old support level??


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## Dona Ferentes (19 March 2021)

still trucking along, awkwardly.. Trading around 20c.

*PANTORO’S FIRST DEVELOPMENT (HALLS CREEK) HAS DELIVERED OVER A LONG PERIOD *

Successfully built operations from the ground up. 
Proven high grade production & uninterrupted gold production since Sep 2015 
Commenced operations in February 2015 with an Ore Reserve of 435,000t @ 6.17g/t for 86,000 Oz and life of 2.5 years. 
Predominantly underground operation with >200,000 ounces produced to date over 5.5 years of operation. 
Currently operating two underground mines –Nicolsons and Wagtail North producing ~35,000 –40,000 Oz pa. 
PRODUCING EXCELLENT CASHFLOW 

Producing strong cashflow from unhedged production.
ONGOING MINE LIFE GROWTH 

Unhedged and full exposure to current gold prices. 
+3 years underground life, and continuing to be expanded. 
2 years of open pit mining when underground is completed. 
Near term maiden resource expectation in satellite deposits. 
REGIONAL OPPORTUNITY 

Only gold processing plant and only gold producer in the region.

_*NORSEMAN PROJECT JV - PANTORO HAS FULL CONTROL OF ALL JV ACTIVITIES AND EXPENDITURE*_

WORK PROGRAMS & EXPENDITURE 

Pantoro is the sole manager of the JV and is responsible for development and execution of all work programs.
Pantoro formulated the development strategy for Norseman upon acquisition and has completed work programs and expenditure in accordance with the strategy. 
With over 130,000m drilled to date, Pantoro has undertaken the first substantive development and exploration drilling at the project since divestment by Western Mining in 2001. 
Works in the 18 months since acquisition culminated in Pantoro completing a DFS for phase 1 of the project. Pantoro is in the process of finalising contracts for construction of the operation, commencing during the current quarter. 
All contracts are between suppliers and Pantoro’s100% owned subsidiary

And now the JV partner *Tulla Resources (TUL)* has made an inauspicious debut on the ASX

_TUL listed on ASX on 18 March 2021 after *raising $240M at $0.90*__ 
.... which is leaving early investors and those hoping for a stag profit underwater, as it *opened at 69c, and quickly dropped to 58c. Now trading around 62c a share.*_


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## barney (19 March 2021)

Yep has been a little awkward as you say @Dona Ferentes 

PNR was my previous "Great White Hope"  prior to VML which has well and truly taken over that mantle.

I still have a core holding of this fella though.  Its a bit like watching paint dry, and then sometimes peeling off the wall as well  

If they ever manage to get Norseman to even half the potential it has, the SP will one day be much higher than present

Its all about time, the POG and PNR management delivering.  Slow boat to China for the time being.

On the positive side, their SP has held up way better than its big brothers NCM and NST in recent times.


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## barney (10 May 2021)

Could almost cut and paste my last post from 2 months ago.

More good drilling results out today at "Scotia"

Norseman is obviously a huge resource, but until they start generating profits, the SP will likely waffle around in a Range.


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## barney (24 May 2021)

PNR continue to dig up excellent Gold grades etc. New Zone: Lord Percy


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## barney (16 August 2021)

Announcement today of a "strategic Investment".

No announcements from either TUL or MEI so it looks like it will be a "private" purchase of some sort?

SP has been stagnant for a long time. They certainly need something to bring the crowds back.

_Trading Halt Request In accordance with ASX Listing Rule 17.1, Pantoro Limited (ASXNR, the Company) requests the granting of a trading halt in its securities with immediate effect pending an announcement regarding an *acquisition of a strategic investment.*_


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## barney (16 August 2021)

Word on the street .... Ann involves  MXR   

If true,   MXR is a small player with a minimal M/cap

But they have thrown up some really nice recent drill results at their "redback" site

Might be an opportunistic move by PNR to secure a future productive area at a discount?


Given MXR have a M/cap of around $10 Mill ...  IF PNR don't go for the whole Company take-over

(ie. If they choose to offer some ridiculous amount of money for a portion of a minnow)

They risk looking a bit silly (in my view.)

They have what is shaping up as a multi-million ounce deposit at Norseman. 

Acquiring a minnow  at anything less than a super discount will not be seen as good business by the Market (again in my view)


Long term holder of PNR so hoping the boys at the helm are thinking with Shareholders interests in mind


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## Austwide (16 August 2021)

You might be on the money given that PNR and MXR are both in trading halts as of 9 this morning


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## barney (13 September 2021)

Owned this battler for ever it seems. Traded a few handfuls and done ok overall so no complaints

They keep drilling up fantastic Gold grades ad infinitum at Norseman, but the market is basically a bit bored with them I think

Definitely not a trading Stock, but given the gold, it makes sense that eventually something will happen (assuming they dig it up of course)


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## barney (5 October 2021)

Recent new drill results from Scotia Deeps.  They keep finding lots of Gold but the SP remains static. Back to sleep


*Key Highlights*

• New high grade results from outside of the current Ore Reserve including:


» 18 m @ 8.29 g/t Au from 174 m. » 7.2 m @ 17.58 g/t Au from 431.2 m.

» 6 m @ 11.68 g/t Au from 114 m. » 4.4 m @ 6.1 g/t Au from 505.6 m.

» 11 m @ 3.22 g/t Au from 179 m inc. 4 m @ 6.81 g/t Au . » 11.3 m @ 5.1 g/t Au from 364.7 m.

» 3.7 m @ 7.04 g/t Au from 358 m. » 3 m @ 5.19 g/t Au from 152 m.

» 3.4 m @ 9.37 g/t Au from 405.6 m. » 1.2 m @ 16.26 g/t Au from 480.8 m.

» 1.7 m @ 12.96 g/t Au from 297.1 m. » 2.9 m @ 8.05 g/t Au from 258.1 m.

» 6 m @ 3.45 g/t Au from 361 m inc. 3.2 m @ 5.83 g/t Au. » 5.4 m @ 3.99 g/t Au from 379.4 m.

» 7 m @ 2.92 g/t Au from 331 m inc. 2 m @ 6.02 g/t Au. » 2 m @ 7.2 g/t Au from 357 m.

» 3.26 m @ 5.95 g/t Au from 314.96 m. » 2 m @ 7.46 g/t Au from 17 m.

» 3.8 m @ 3.81 g/t Au from 435.4 m


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## barney (15 November 2021)

In a strange twist of good fortune, Pantoro look to have discovered a handy looking Platinum deposit to the north of Halls Creek. I know little about Platinum grades etc.  Time to do some research.  

Platinum Announcement


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## explod (3 January 2022)

This is one of my picks for the 2022 competion.  Into Lithium which in my view has a very good future for power storage. They have just allowed a company to move in to get the mining underway so feel it could go very well this year. The jump in December reflects this news so we will see.


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## Sean K (10 January 2022)

Anyone know what coblat is?


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## Telamelo (25 July 2022)




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## noirua (17 October 2022)

First gold poured at the Norseman Gold Project 


			https://mcusercontent.com/590e305fbfdff52fa70c2126f/files/055566d0-2be8-3c40-0346-70f7ec9ba0b9/14_10_22_First_gold_poured_at_the_Norseman_Gold_Project.pdf


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## noirua (17 October 2022)

*Southern Mainfield drilling highlights potential UG mining centre*
Pantoro Limited - Southern Mainfield drilling highlights potential UG mining centre


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## noirua (21 October 2022)

A savage pullback in Pantora's share price after a cash raising at 17c which was quite low enough.






			https://uk.advfn.com/p.php?pid=staticchart&s=ASX%5EPNR&t=37&p=0&dm=0&vol=0&width=334&height=202&min_pre=0&min_after=0


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## noirua (21 October 2022)

*Quarterly Report Ending 30 September 2022*


			Pantoro Limited - Quarterly Report Ending 30 September 2022


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## Telamelo (21 October 2022)

noirua said:


> *Quarterly Report Ending 30 September 2022*
> 
> 
> Pantoro Limited - Quarterly Report Ending 30 September 2022



PNR finished @ 0.135c down -20.59%


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## noirua (31 December 2022)

Pantoro have had a disastrous year like many explorers.    A lot of cash was expended buying into the Norseman Gold Project owned by Tulla Resources though they have now finished these payments and now it costs them 50% in equal partnership.  Tulla unloading their share holding in PNR additionally dragging the share price down together with a large cash raising.








						Pantoro launches $30 million raise to put toward Norseman development
					

Pantoro Ltd (ASX:PNR) is aiming to raise $25 million as part of an institutional placement that may also accept oversubscriptions for a...



					www.proactiveinvestors.com.au
				




Live charts:
Day: https://uk.advfn.com/p.php?pid=staticchart&s=ASX^PNR&p=0&t=1
Short term: https://uk.advfn.com/p.php?pid=staticchart&s=ASX^PNR&p=5&t=1
Long term: https://uk.advfn.com/p.php?pid=staticchart&s=ASX^PNR&p=9&t=1


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