Pantoro Gold shares rise on 10% buyback plan

Shares in Pantoro Gold (ASX:PNR) rallied sharply in early Feb. 23 trade after the gold miner unveiled plans for a major capital management initiative.

The Perth-based producer announced a 10% on-market share buyback to be executed over the next 12 months, signaling strong internal confidence in the company's valuation.

Under the terms of the program, Pantoro intends to repurchase up to 38,344,473 shares—the maximum allowed without requiring formal shareholder approval.

To ensure fiscal discipline, the company confirmed that no shares will be acquired at a price exceeding 5% above the volume-weighted average price.

Managing Director Paul Cmelec emphasised that the move balances immediate investor returns with long-term expansion goals.

"The buyback will be executed diligently to ensure Pantoro Gold is well-positioned to finance organic and inorganic growth opportunities as they arise while continuing to deliver shareholder value," Cmelec stated.

At the time of reporting, Pantoro Gold’s share price was $5.30.