Pantoro Gold shares slump after FY26 production miss
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The news: Shares in Pantoro Gold slumped in afternoon trade after the gold producer reported weaker-than-expected FY26 production driven by contractor underperformance at its OK and Scotia underground mine sites.
Shares fell 9.8% to $1.99 at 2:41pm AEST.
The context: The miner reported total gold production of 77,408 ounces for the full year, with 18,028 ounces recorded in the June quarter. The output fell short of its previously guided target due to an acute Western Australian labour shortage, which directly restricted operational capacity.
Pantoro also stated that increased ground pressure and unexpected seismic activity at the OK underground mine had further impacted short-term ore availability. These were also coupled with constrained operator and skilled maintenance technician availability.
Despite these headwinds, the company still grew its cash and gold bullion reserves by $175.8 million, lifting its total balance to $223.4 million while remaining debt free.
Pantoro expects to produce between 90,000 and 105,000 ounces of gold, with an estimated all-in sustaining cost of between $2,800 to $3,400 per ounce in FY27.
The source: ASX
