Pantoro Gold (PNR) Q4 2025 TU earnings summary

Executive summary

• Achieved record quarterly gold production of 25,500 oz (reported as 25,417 oz in some sources), the highest since operations restarted, driven by steady-state operations at Scotia and OK Underground Mines.

• Ended the period debt-free after early repayment of debt facilities, with cash and gold holdings totaling $175.9 million.

• EBITDA reached $80.4 million for the quarter, totaling $196.4 million for the financial year.

• Aggressive exploration and development program underway, with 30,300 metres drilled in the quarter and a $55 million budget for FY2026.

• No lost time injuries reported, with improved safety metrics and ongoing community engagement.

Financial highlights

• Quarterly gold production: 25,417–25,500 oz, best result since mine restart.

• AISC for the quarter: $1,991/oz, maintaining strong profitability.

• EBITDA: $80.4 million for the quarter, $196.4 million for the year.

• Cash and gold holdings: $175.9 million at period end, fully debt-free.

• Net cash from operating activities: $85.2 million for the quarter.

Outlook and guidance

• FY2026 production guidance: 100,000–110,000 oz at AISC of $1,950–$2,250/oz.

• Targeting 200,000 oz annual production by FY2028, driven by expansion and new mine development.

• $55 million exploration budget and $67 million major project capital planned for FY2026.

• Aggressive drilling program planned, with up to 250,000 metres targeted in FY2026.

• Potential for upside to guidance if main field or Scotia expansions are realized ahead of schedule.