Pantoro Gold (PNR) Investor presentation summary

Strategic positioning and growth

• Norseman project is located in a highly prospective, underexplored goldfield with four high-grade production zones and a large pipeline of exploration-stage deposits.

• Operations are concentrated across OK, Scotia, Gladstone, and Mainfield mining areas, with a total mineral resource of 43.2 Mt @ 3.3 g/t for 4.6 million ounces of gold.

• The company is well-capitalized with A$250.3M in liquidity, no debt, and unhedged production, providing strong upside exposure to gold prices.

• Focus remains on maintaining strong margins, profitability, and organically funded growth.

Financial performance and capital management

• H1 FY2026 production reached 41,623 oz, with half-year gross profit of $85M and NPAT of $56M.

• EBITDA for H1 FY2026 was $135.5M, with $250.3M in cash and gold as of March 2025.

• Share buyback is underway, and the company remains debt-free and leveraged to gold price movements.

• Consistent cash growth and strong cashflow support ongoing mine development and exploration.

Operational highlights and expansion

• Norseman processing facility operates at 1.2Mtpa with 95% recovery, and can be upgraded to 1.4–1.5Mtpa without major costs.

• Production strategy aims to reach 200kozpa by adding high-grade underground sources and replacing open pit feed.

• OK Underground Mine produces 35,000–40,000 oz per annum, with ore reserve increasing annually and extensive drilling underway.

• Scotia Underground Mine is now producing from multiple areas, with new levels approved and ongoing drilling extending mineralisation.

• Gladstone open pit mining is progressing through multiple stages, with strong grade control results and further expansion under consideration.