Pantoro partners with Mega Resources on Rama pit in WA

Pantoro Gold has signed a concern statement with Mega Resources and Bain Global Resources regarding the Rama Open Pit successful Western Australia’s (WA) Forrestania region.

The statement provides Pantoro Gold with the accidental to excavation and make an underground tract beneath the unfastened pit nether a profit-sharing arrangement, which could widen the project's duration.

Pantoro plans to beforehand up to A$20m to Mega for signifier 2 mining astatine the Rama Open Pit, secured by a superior involvement implicit task tenure.

The concern volition beryllium recouped from golden gross delivered by Mega astatine a complaint of $1,000/oz, with repayment required wrong 8 months from the commencement of the agreement.

Pantoro volition grip batch processing of the ore and compensate Mega 70–80% of the worth of the reconciled gold, based connected the ore grade.

Mega expects to present astir 115,000t astatine a people of 4.7 grams per tonne (g/t) gold, with a minimum of 17,700oz.

Initially, A$15m volition beryllium funded, with an further A$5m disposable if necessary, with each amounts accruing 5% per annum interest.

Mega volition proviso ore to Pantoro's Norseman facility, transferring ownership and hazard astatine that point.

Payment for the processed ore volition hap per batch, reflecting the golden grade, with Pantoro retaining gross beyond the precocious funds.

Additionally, Pantoro holds a 12-month exclusive enactment to suggest a enactment programme for a imaginable underground cognition aft the Rama Open Pit is completed.

This inaugural could see infill drilling and accumulation planning, and would run nether a profit-sharing model.

The parties person agreed to negociate presumption during this period, extending to six months post-completion of the Rama Open Pit.

Pantoro Gold managing manager Paul Cmrlec said: “This is simply a large win-win statement which allows Mega to make a stranded, high-grade plus utilizing Pantoro’s beardown equilibrium sheet, portion generating beardown margins for our shareholders.

“The high-grade worldly from Rama volition regenerate existent low-grade stockpile provender processed astatine Norseman portion Pantoro Gold brings online further high-grade underground mines.”

In December 2024, Pantoro completed the merchantability of the Halls Creek Project successful WA to Kimberley Minerals.

"Pantoro partners with Mega Resources connected Rama pit successful WA" was primitively created and published by Mining Technology, a GlobalData owned brand.

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