Year wrapped: Pantoro targets gold growth at Norseman [Video]

Pantoro Ltd (ASX:PNR, OTC:PNTOF) managing director Paul Cmrlec talks with Proactive’s Tylah Tully about the company’s achievements in 2024 and plans for the Norseman Gold Project in Western Australia in 2025, with a particular focus on developments at the Scotia Mine.

Cmrlec outlined that 2024 was pivotal for Pantoro, as the Norseman Project moved into a cash-flow positive position.

“The last three quarters have generated cash,” Cmrlec said.

Key milestones included the completion of open-pit mining at Scotia and the commencement of underground development and stoping, which is expected to fully ramp up next quarter.

Discussing drilling results released earlier this week, Cmrlec emphasised the success of step-out extensional drilling at Scotia South.

He noted wide mineralisation 70 metres below current reserves, which could increase the project’s production and mine life.

Additionally, ground control drilling revealed wider and higher-grade mineralisation than expected, enhancing the project’s growth potential.

A significant milestone this year was the signing of a Native Title agreement, described by Cmrlec as the culmination of years of negotiation.

The agreement allows for sustainable mine growth while ensuring benefits for the local indigenous community.

Looking to 2025, Cmrlec said Pantoro was focused on maintaining positive cash flow and advancing growth initiatives.

Goals include restarting open-pit mining, ramping up underground operations and further drilling programs.

The company targets increasing production from 100,000 tonnes per annum to 200,000 tonnes per annum within two years, with plans to develop two new underground mines by 2026.

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