PNR - Pantoro Limited

[barney]

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

 

[Trav.]

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.

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.

 

[barney]

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)

 

[barney]

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!

 

[noirua]

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

 

[barney]

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!

 

[barney]

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

 

[barney]

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

 

[barney]

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??

 

[Dona Ferentes]

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.

 

[barney]

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.

 

[barney]

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.

 

[barney]

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

 

[barney]

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.

 

[barney]

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

 

[Austwide]

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

 

[barney]

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)

 

[barney]

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

 

[barney]

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

 

[explod]

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.