Argonaut acted as Joint Lead Manager to successfully raise A$43.0 million for Pantoro Limited (ASX:PNR) (“Pantoro” or the “Company”). The Company raised funds from Australian and international institutional and professional investors by way of a $43.0 million Placement (“Placement”) at an issue price of A$0.20 per share. The Placement was oversubscribed.
Pantoro has confirmed that funds raised pursuant to the Placement will be used to fund the acquisition and joint venture of the Central Norseman Gold assets, exploration and infill drilling of immediate production targets and other project development activities to advance these assets towards recommencement of production in the near term, as well as for general working capital.
Argonaut is delighted to continue to provide support to Pantoro and looks forward to our ongoing work with the Company.
Additional information regarding Pantoro can be found on the Company’s website at www.pantoro.com.au