How does Pantoro plan to enhance its production output further in the future?
Pantoro Limited
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How does Pantoro plan to enhance its production output further in the future?

Pantoro Limited (ASX:PNR), a prominent player in the mining industry, has recently announced that its production levels in the December quarter are aligning well with expectations. The company has achieved robust results, particularly in November 2023, suggesting a positive outlook for the ongoing quarter. Key developments in the Scotia project and the increasing ore grades are contributing to this favorable trend.

Consistent Performance in November 2023

During the month of November 2023, Pantoro Limited maintained a steady production rate of 5,886 ounces of gold. This production rate equates to approximately 196 ounces per day, demonstrating a commendable level of consistency compared to the previous month, where the daily production rate was around 199 ounces.

Remarkable Improvement in December's Processing Results

The processing results for December 2023, as of the current date, reveal a significant improvement in daily recovered gold production. Pantoro's Processing Facility has consistently operated above its nameplate capacity, with an impressive 90,645 tonnes processed in November.

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Moreover, the recovery rate for November reached an impressive 92. 8%, indicating the efficiency of their processing operations.

Enhanced Open Pit Ore Availability

One of the standout achievements in Pantoro's mining operations is the substantial improvement in open pit ore availability. Specifically, Scotia South and Scotia Central are yielding high-grade ore situated below the historical open pit floor. This development is a positive sign for the company's production capabilities.

Promising Future Prospects in Scotia Central

Pantoro anticipates a continuous increase in ore grades in Scotia Central over the next few months, aligning with their geological models. This suggests a promising future for the project, as higher ore grades generally translate to increased value and profitability.

Abundance of Ore Stocks

Pantoro Limited has amassed significant ore stocks to support its ongoing operations. The company currently boasts approximately 65,000 tonnes of high-grade and medium-grade ore stocks, in addition to a substantial 199,000 tonnes of low-grade material. These stockpiles ensure a consistent feed into the processing plant, contributing to the steady production rate.

OK Underground Reaches Milestone

A noteworthy milestone has been achieved at the OK Underground project, as it has reached the first new level in the O2 lode at the 515-meter Reduced Level (mRL). The historical mined grade in the O2 lode stands at an impressive 9. 1 grams per ton (g/t). The initial development progress in this area has been remarkable, signifying the project's potential for high-grade mineralization.

Stellar Performance in the Star of Erin Lode

Pantoro's development and stoping activities in the Star of Erin lode at the OK Underground have consistently exceeded expectations. This remarkable performance underscores the company's commitment to achieving operational excellence.

Outlook and Comments from Managing Director

Pantoro Limited's Managing Director, Paul Cmrlec, expressed optimism about the company's progress. He emphasized the significance of the open pit at Scotia reaching high-grade mineralization and the successful development milestone in the O2 lode at the OK mine. Cmrlec's remarks highlight the robust operational position of Pantoro Limited, indicating a bright future for the Norseman project.

Pantoro Limited's strong production performance in the December quarter, driven by impressive developments in various projects, underscores the company's commitment to achieving operational excellence and delivering favorable returns to its stakeholders. With high-grade ore availability and ongoing milestones, Pantoro's prospects are promising as it continues to advance in the mining industry.

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