PNR 3.19% 9.1¢ pantoro limited

Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-5

  1. 11,723 Posts.
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    At first glance, Feb/March are excellent, with Jan being the outlier, which... makes sense as the contractor they got rid of clearly did not finish on a high note (not a surprise considering they have struggled the entire time), but January was terrible....

    If they can stay close to the March production, with POG sitting around $3700 AUD, they are going to see a huge increase in free cashflow, which... as fate would have it, ties in directly with their debt repayments coming up in the months ahead and Scotia dev.

    The $2.3m won't be recurring and they have already started investing in the Scotia U/G.

    https://hotcopper.com.au/data/attachments/6104/6104644-0549363a6deea561b60a5e4ab84bd699.jpg

    The plant improvements are really helping too. Annualized at over 1.1mtpa now.

    https://hotcopper.com.au/data/attachments/6104/6104654-9b1abbf50cfabbd402f76e1803fdd062.jpg

    PNR is clearly over the hump, though without doubt it has not been pretty!

    They are going to see a much higher realized gold price for the June Q. Which again, is lucky, as Scotia development is going to ramp up.

    https://hotcopper.com.au/data/attachments/6104/6104659-fa207ac8da2f4819050af2710284df07.jpg

    If they had been able to swap contractors a month earlier, we would likely have seen a very different result, but... it is what it is.
    The cash drop of $5m is.. disappointing, but as above, it was all due to January.

    Interested in others thoughts.
 
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