Pantoro Gold (ASX:PNR) Output Falls Short Amid Staffing Challenges at Scotia Underground

April 28, 2025 11:52 AM AEST | By Team Kalkine Media

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Pantoro Gold (ASX:PNR) Output Falls Short Amid Staffing Challenges at Scotia Underground — Image source: shutterstock

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Highlights

Pantoro Gold production misses target.

Scotia Underground staffing issues now resolved.

Quarterly earnings show improvement.

Pantoro Gold (ASX:PNR) has reported a softer-than-anticipated gold production performance for the March quarter, with the company attributing the shortfall to staffing delays at its Scotia Underground Mine. This update sent the company's shares down by approximately 11.5% in morning trading.

For the three months ending March, Pantoro Gold’s production totaled 18,334 ounces of gold. This figure came in below the company's guidance range, which had been set between 20,700 and 25,300 ounces. The company faced challenges onboarding drilling staff, which limited operational efficiency during the period.

Despite the production setback, Pantoro Gold has made strides in resolving its workforce issues. Management confirmed that the contractor operations at Scotia are now fully staffed, including two long hole drill rigs operating around the clock. This development is expected to bolster future output levels and stabilize mining activities moving forward.

The financial snapshot for the quarter revealed an increase in earnings, rising to $46.4 million. However, the all-in sustaining costs (AISC) crept higher, reaching $2,427 per ounce, a slight increase compared to the previous quarter. Elevated costs were partially attributed to operational challenges linked to limited staffing early in the quarter.

Pantoro Gold emphasized that with the personnel challenges now addressed, the company is well-positioned to enhance productivity at Scotia Underground. Attention will be focused on leveraging the fully staffed drilling teams to optimize output in the upcoming months.

This latest update highlights the pressures mining companies face with workforce management and operational execution, particularly in a sector where cost control and output consistency are critical. Investors will be keenly observing the next quarterly results to assess how well Pantoro Gold capitalizes on its now fully manned operations.

Looking ahead, stabilizing production volumes and managing costs efficiently are likely to be key priorities for Pantoro Gold as it aims to realign performance with earlier production targets.

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