Pantoro director supports exploration strategy with on-market purchase

Pantoro Ltd (ASX:PNR) director Scott Huffadine has increased his shareholding in the company with the acquisition of 125,000 shares. The shares were bought for $10,000 by Huffadine as trustee and beneficiary on behalf of SHIPS and the Huffadine Family A/C and brings his total shareholding to 2,850,962. Huffadine also holds 1,500,000 options exercisable at 24 cents on or before 4 July 2022, and 1,500,000 options exercisable at 25 cents on or before 4 July 2022. Other notable purchases Earlier this week, Pantoro shareholder Robmar Investments Pty Ltd increased its stake in the company from 15.8% to 16.87%, bringing its total number of shares from 186.33 million shares to 198.43 million shares. Furthermore, the company’s managing director Paul Cmrlec also increased his shareholding in the company with the purchase of 350,000 shares for $25,200.00. This brought his total securities to 7,798,992 shares and he also holds 1,500,000 options exercisable at 24 cents on or before 4 July 2022, and 1,500,000 options exercisable at 25 cents on or before 4 July 2022. Norseman Project Last month, Pantoro revealed high-grade gold results from drilling of the Scotia, Daisy South and Gladstone-Everlasting prospects within its Norseman Gold Project. Notably, the results indicate possible extensions to the deposits. Currently there are five drill rigs in operation at Norseman - three on surface undertaking diamond and RC drilling programs focused on resource development; one undertaking exploration on Lake Cowan; and one underground at the OK mine. These programs are expected to be completed during the March quarter with mineral resource estimates and ore reserve calculation to follow soon after.