Western Australia-based gold producer Pantoro Gold (ASX:PNR) has notified Nebari Partners of its intention to fully repay its outstanding US$6.26 million ($9.76 million) convertible loan facility on 12 May 2025.
The company will issue just over 4,92 million options to Nebari, with an exercise price of US$1.0812 ($1.69) and an expiry date of 30 June 2027.
Following the repayment, Pantoro will be debt free.
Pantoro says by proactively opting to repay the facility, the company reduces potential shareholder dilution by 15% compared to full conversion upon election by Nebari and avoided about $1.52 million in interest payments that would have accrued over the remaining term of the loan.
Managing Director Paul Cmrlec says becoming debt free is a major milestone for the company after repaying US$29.63 million term loan facility with Nebari in June 2024, less than 12 months after it was established.
“With a strengthening balance sheet and a growing cash position, Pantoro Gold is well placed to fund our ongoing growth program and deliver long-term value for shareholders,” Cmrlec says.
Write to info@mining.com.au at Mining.com.au
Images: Pantoro
