December 25 Half Year Report and FY 26 Guidance Update

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Stock Pantoro Ltd (PNR.ASX)
Release Time 9 Mar 2026, 4:51 p.m.
Price Sensitive Yes
 Pantoro Ltd reports strong H1 FY26 results, updates FY26 guidance
Key Points
  • Gold production of 41,623 ounces, EBITDA of $135.5 million, and gross profit of $85.1 million
  • Revenue of $238.6 million and net cash from operating activities of $128.3 million
  • Cash and gold balance increased to $216.5 million, company remains debt-free and unhedged
Full Summary

Pantoro Gold Limited (ASX:PNR), a WA-based gold producer focused on its 100%-owned Norseman Gold Project, has released its half-yearly statutory accounts for the first half of FY 2026. The company has delivered strong financial results, with gold production of 41,623 ounces resulting in EBITDA of $135.5 million (H1 FY25: $63.8 million) and gross profit of $85.1 million (H1 FY25: $15.0 million). Revenue for the period was $238.6 million (H1 FY25: $153.4 million), and net cash from operating activities was $128.3 million (H1 FY25: $56.1 million). The company's cash and gold balance increased to $216.5 million at the end of the period (H1 FY25: $119.3 million), and Pantoro Gold remains debt-free and completely unhedged. Key operational highlights include substantial progress in dewatering, rehabilitation, and drilling activities at the Bullen Underground Mine, with a final investment decision for the commencement of mining of the O'Briens and Crown South orebodies imminent. Significant investment in exploration and extensional drilling continues to support Pantoro's strategy of developing multiple underground mines to drive production growth in FY 2027 and FY 2028. However, the company has revised its full-year production guidance for FY 2026 due to a significant rain event associated with Ex-Tropical Cyclone Mitchell in February 2026, which resulted in temporary flooding of multiple underground areas and interrupted open pit and haulage operations, as well as the planned transition to a new underground mining contractor at the OK Underground Mine during the final quarter of the year.

Guidance

Pantoro Gold now expects full-year production of 86,000 -92,000 ounces for FY 2026.