PNR - Pantoro Limited - Aussie Stock Forums

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  1. #1

    Post PNR - Pantoro Limited

    Pacific Niugini Ltd (PNR), formerly Chrome Corporation Limited (CCI), is a Perth-based mining company, focusing on mineral exploration, evaluation and development.

    Previous discussion of this company can be found in the CCI thread: http://www.aussiestockforums.com/for...ead.php?t=4228

  2. #2
    Make the drill work for YOU springhill's Avatar
    Join Date
    Jun 2007
    Mental Institution

    Default Re: PNR - Pacific Niugini

    MC - $52m
    SP - 21c
    Shares - 251m
    Options - 25m
    Cash - $10.7m

    Bulolo Project – Morobe Province:
     Excavation and processing of 40 bulk samples and two drill holes completed within EL1616. Test pits were excavated in both virgin gravel areas and previously dredged areas. Samples were dispatched to Burnie Research Laboratories in Tasmania with results pending.
     Results from the initial bulk sampling program at Widubosh were received. An infill test program is planned to be undertaken at Widubosh.
     Major structural and processing components for the PNR owned processing plant are near completion, with finalisation of the plant awaiting government approval processes and assay results.

    Garaina Project
     Detailed interpretation of magnetic and radiometric data at Kusi identifies a favourable large magnetic high zone with a non-magnetic core and coincident potassium high radiometric data, suggesting the presence of an intrusive body which has been intensely altered.
     Magnetic anomalies identified at the Sim and Kasuma prospects are indicative of underlying intrusive bodies prospective for discovery of major ore deposits with porphyry deposit potential around the large magnetic anomaly areas, and epithermal mineralisation potential in structural features persistent in the tenement area.
     Step out mapping, soil sampling and trenching continues to expand the footprint of known mineralisation at Kusi. Initial reconnisance exploration at Sim is underway.

    Gusap Project
     Munambe Prospect on newly granted Mutzing tenemnet accessed, with a large zone of argillic to advanced argillic alteration identified with presence of copper and gold mineralisation confirmed (up to 3.5% Cu and 8% Zn returned). Systematic ridge and spur and costean sampling is underway.
     Infill heli-magnetic and radiometirc survey completed over Munambe prospect. Data suggests structural features radiating from an intrusive body. The central intrusive body is still to be accessed.
     Exploration at Yanangon continues to expand the footprint of known mineralisation. First phase of reconnisance exploration is completed and data review is underway.
    Attached Images
    "You have enemies? Good. That means that you've stood up for something, sometime in your life" - Winston Churchill

  3. #3
    Make the drill work for YOU springhill's Avatar
    Join Date
    Jun 2007
    Mental Institution

    Default Re: PNR - Pacific Niugini

    PNR announce $21m farm-out agreement over Garaina Prospect. The buy v sell supply tends to suggest the gradual decline in SP over a long period may be over. Continued consolidation or indeed value increase looks to be on the cards.

    MGL to earn up to 70% by spending up to $21m on exploration.

    Pacific Niugini Limited (“PNR”) is pleased to advise that it has agreed terms with MGL Limited (“MGL”) to enable MGL to earn up to a 70% interest in it’s Garaina Prospect by spending up to $21m on exploration. MGL is a privately owned company lead by successful Australian mining executives with extensive experience in exploration for copper-gold porphyry systems, and recent operational experience in PNG.

    Pacific Niugini has completed extensive reconnaissance exploration at Garaina, which has resulted in the project being rapidly advanced from a green fields exploration prospect to a drill ready target. During the past two years, PNR has completed extensive geochemical sampling, manual trench sampling, ground and airborne geophysical surveys and reconnaissance drilling. The work has resulted in the delineation of an outstanding “WafiGolpu” style epithermal gold and porphyry copper-gold target. MGL has reviewed the exploration programs completed by PNR to date, and has formulated an exploration strategy aimed at discovery of a major mineral system, with drilling planned to commence in the near term.

    Under the terms of the farm-in agreement:
    -MGL will spend $6 million on exploration to earn 50.1% of the project.
    -A minimum of $3,000,000 and 2,500 metres of diamond drilling are required to be completed before MGL can withdraw from the Farm-in. Further, MGL is required to pay PNR any shortfall in expenditure in the event that MGL wish to exit early.
    -Once MGL has earned 50.1% interest, PNR can elect to either contribute to maintain its 49.9% interest and a Joint Venture will be formed.
    -PNR can elect to further dilute to a 30% interest. IF this occurs MGL must carry the next $15m of exploration expenditure over a further 3-year period to earn a further 19.9% interest (70% total interest).
    -Once MGL has earned a 70% interest a Joint Venture will be formed.
    The agreed terms are intended to be binding on both parties, and formal farm-in and joint venture documentation is being finalised.

    Pacific Niugini has agreed to provide it’s highly experienced team of PNG geologists and field staff to implement MGL’s work programs. MGL has advised it expects to undertake further project assessment and planning for a one to two month period ahead of drilling.
    Attached Images
    "You have enemies? Good. That means that you've stood up for something, sometime in your life" - Winston Churchill

  4. #4

    Default Re: PNR - Pantoro Limited

    On December 8th, 2015, Pacific Niugini Limited changed its name to Pantoro Limited.

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