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Pantoro sets sights on A$45m raise

14th March 2022

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – ASX-listed Pantoro is hoping to raise A$45-million in a share placement to fund exploration work at its Norseman gold project, in Western Australia, and to support the early start of production.

Pantoro will place more than 155-million shares at a price of 29c each to institutional and sophisticated investors, under its existing placement capacity.

Pantoro told shareholders on Monday that the placement would strengthen the company’s balance sheet with the funds to be applied towards continued growth exploration at the Norseman gold project, support the early commencement of mining at the Norseman to underwrite ore supply to the new processing facility, accelerate platinum group element project exploration at the Halls Creek project and for general working capital.

Project construction activities at Norseman are progressing on time and on budget, Pantoro said, with first production targeted for August 2022.

Edited by Creamer Media Reporter

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