Pantoro Gold Limited (ASX:PNR) to Clear Debt After Repayment of Convertible Loan
Debt Repayment
Pantoro Gold Limited has notified Nebari Partners LLC of its intention to fully repay the outstanding Convertible Loan Facility of approximately A$9.76 million on 12 May 2025, becoming debt free. The company will issue 4,924,312 options to Nebari with an exercise price of A$1.69 and an expiry date of 30 June 2027. This proactive repayment reduces potential shareholder dilution by 15% and avoids around A$1.52 million in interest payments.
Executive Comments
Pantoro Gold Managing Director Paul Cmrlec stated, “Becoming debt free is a major milestone for the Company. We repaid the US$29.63 million (A$44.45 million) Term Loan Facility with Nebari in June 2024, less than twelve months after it was established and will now repay the Convertible Loan Facility more than two years ahead of schedule.
We’re very grateful for the strong working relationship we’ve developed with Nebari, who were extremely supportive throughout the startup phase of Norseman.
With a strengthening balance sheet and a growing cash position, Pantoro Gold is well placed to fund our ongoing growth programme and deliver long-term value for shareholders.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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