Pantoro Gold (PNR) Q2 2026 TU earnings summary

Executive summary

• EBITDA for the quarter reached AUD 84 million (or $83.6M), with strong operational cash flow and a $35 million increase in cash and gold, driven by high gold prices and ongoing mine development.

• Cash and gold holdings rose to $216.5 million by quarter-end, with no debt outstanding.

• Production flexibility increased at Scotia and OK mines, with new ore zones and Main Lode development underway; open pit mining commenced at Gladstone.

• Seven to eight drill rigs active, delivering high-grade results and supporting expansion of underground production centers.

• Safety performance improved with no lost-time injuries and LTIFR reduced to 1.5 over 12 months.

Financial highlights

• EBITDA for the quarter was $84M, with operating revenue of $136.9M and net cash from operating activities at $80.5M.

• Cash and gold holdings increased to $216.5M by quarter-end, with no debt.

• All-in Sustaining Cost (AISC) for the quarter was $2,571/oz, and C1 cash cost was $1,959/oz.

• Major project capital and exploration spend for the quarter totaled $32.1M.

• EBITDA margin for the quarter was approximately 61%.

Outlook and guidance

• FY2026 production is expected at the lower end of the 100,000–110,000 ounces guidance, with improvements targeted in the second half.

• Targeting a 200,000 ounce per annum run rate by FY28, with step-up expected in FY27 as new underground mines come online.

• Gladstone Open Pit and Daisy South are expected to contribute to production and extend mine life from March 2026.

• Ongoing development at Scotia and Mainfield supports future production growth.

• Mainfield high-grade results support near-term development of a third underground mine, with planning and feasibility underway.