Mentioned in Nick Kelso's report:PNR - Pantoro Limited today...

Mentioned in Nick Kelso's report:

PNR - Pantoro Limited today closed up 23% to finish at 4.8c on $2m stock traded. The reason they were up today was because they announced the execution of a binding agreement with Mineral Resources (MIN.asx) to divests its lithium, nickel, copper, and cobalt rights on the Norseman Gold Project for up to $30m in cash consideration plus royalties.

MIN will pay $30m upfront (within 5 days) and a potential further $30m payable upon final investment decision to commence a mining operation, PNR will also receive a 2% net smelter royalty.

Pantoro will retain ownership of the tenure and holds all rights to precious and other base metal and battery minerals over the entire tenement package.

The consideration received strengthens Pantoro’s balance sheet and represents a strong return on non-core mineral rights, PNR recently announced October's estimated gold production increased by a further 16% to 6,186 ounces recovered.

So good day for Paul and his team after today's deal as I reckon market would have had next to zero value on this in it's valuation & now with the gold production finally starting to come good, let's hope it's happier times ahead for all the PNR shareholders.