Pantoro Gold (ASX:PNR) is conducting a share buy-back for up to 10% of its shares issued over the last year.
The company will acquire up to 38.34 million shares through the buy-back scheme, as operations progress at the Norseman Gold Project in Western Australia.
Shares will not exceed 5% of the five-day volume weighted average price.
Managing Director Paul Cmrlec says during a time of deploying capital growth for the project, the company is focused on “maximising operating margins”.
“Since September 2024, growth drilling has delivered strong results and we expect to convert this success into additional underground mines in line with our growth strategy which targets an aspirational increase in annual production to 200,000 ounces of gold,” Cmrlec says.
“The combination of a strong gold market and our focus on maintaining production margins has resulted in an exceptional balance sheet position which enables us to implement a capital management policy in parallel with the growth program.
“The buy-back will be executed diligently to ensure that Pantoro Gold is well positioned to finance organic and inorganic growth opportunities as they arise while continuing to deliver shareholder value.”
Pantoro Gold is focused on unlocking value at the historical Norseman Gold Project in Western Australia.
Write to Maddison Elliott at Mining.com.au
Images: Pantoro Gold
