Stock Track | Pantoro Ltd Shares Plummet 5.51% Intraday on Lower Gold Production and Higher Costs

Stock Track

Apr 28

Pantoro Ltd (PNR.AU) shares plummeted 5.51% during intraday trading on Tuesday, following the release of the company's quarterly production report.

The gold producer reported lower production and significantly higher costs for the March quarter. Gold production came in at 17,757 ounces, down from 18,334 ounces in the same quarter a year earlier. Meanwhile, the company's all-in sustaining cost rose sharply to AU$3,204 per ounce from AU$2,427 per ounce over the same period.

Despite reporting higher earnings before interest, taxes, depreciation, and amortization of AU$88.4 million compared to AU$46.4 million a year ago, investors appeared concerned about the production decline and cost pressures affecting the company's operations.

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Gold production came in at 17,757 ounces, down from 18,334 ounces in the same quarter a year earlier. 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