Pantoro Gold (PNR) H1 2025 earnings summary

Executive summary

• Achieved a consolidated profit after tax of $6.6M, reversing a $15.8M loss in the prior year half.

• Revenue rose to $153.4M, up from $93.8M year-over-year, driven by higher gold sales.

• Completed the sale of Halls Creek Mining Pty Ltd for $8M, with staged payments and a royalty.

• Norseman Gold Project operated above nameplate capacity, with significant underground mine development and exploration progress.

Financial highlights

• Gross profit of $15.0M, compared to a $37.9M gross loss in the prior year half.

• Cash and cash equivalents at period end were $105.9M, up from $44.5M a year earlier.

• Net cash from operating activities was $56.1M, compared to a $29.4M outflow in the prior year.

• Earnings per share improved to 0.10 cents, from a loss of 0.31 cents per share year-over-year.

Outlook and guidance

• Scotia underground mine ramp-up expected to reach full rate by March 2025.

• Growth program underway to develop at least two additional underground mines at Norseman over the next two years.

• Surface and underground exploration campaigns ongoing, with positive drilling results reported post-period.