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PNR - PANTORO LIMITED
Bell Potter rates PNR as Upgrade to Hold from Sell (3) - Pantoro will divest its lihrium, nickel, copper and cobalt rights at the Norseman gold project to Mineral Resources ((MIN)) for a price of $60m, plus royalties, says Bell Potter. This will see Pantoro retain rights to precious and base metals and battery materials at the project.Payment will involve a $30m upfront cash payment, $30m deferred payment due with a final investment decision, and a 2% royalty on nickel, copper and cobalt and a 0.75% royalty on lithium.Bell Potter finds the deal timely for Pantoro, which was facing a cash shortfall in coming quarters. The rating is upgraded to Hold from Sell and the target price increases to $0.042 from $0.025.Target price is $0.04 Current Price is $0.04 Difference: minus $0.001 (current price is over target). If PNR meets the Bell Potter target it will return approximately minus 2% (excluding dividends, fees and charges - negative figures indicate an expected loss). The company's fiscal year ends in June.Forecast for FY24:Bell Potter forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 0.40 cents . At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 10.75.Forecast for FY25:Bell Potter forecasts a full year FY25 dividend of 0.00 cents and EPS of 0.80 cents . At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 5.37.Market Sentiment: 0.5All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources