Pantoro Ltd Secures $ 30 Million Corporate Finance Facility to Support Norseman Gold Project

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The Global Credit Investments facility, combined with Pantoro’s existing cash balance and ongoing cash flows from Halls Creek operations, fully subscribe to the construction and operating obligations of the Norseman project.

() has entered into a $ 30 million corporate finance facility that helps it fully subscribe to its construction and operating obligations at the Norseman gold project.

The facility is sourced from Global Credit Investments (GCI), a leading private credit company based in Sydney, providing flexible financing solutions for a range of sectors, including resources, in Australia and New Zealand.

This $ 30 million facility, combined with Pantoro’s existing cash balance and ongoing cash flows from its Halls Creek operations, fully secures the Company’s construction and operating obligations to the Norseman Gold Project.

Flexible agreement

Managing Director Paul Cmrlec said: “Pantoro is delighted to have finalized the corporate credit facility with GCI.

“GCI has been extremely flexible in agreeing to the terms of the loan, and we look forward to a long relationship both for this facility and in future endeavors. “

The installation agreement is flexible in that it does not require that the funds be used for project costs and that the funds are generally available for use by Pantoro as required to operate its business.

“Pleasure to treat”

GCI Managing Director and Co-Founder Steven Sher said, “We are delighted to help Pantoro fund their very exciting growth. It is a pleasure to do business with Pantoro and we look forward to a long future together.

Key terms of the transaction include:

  • Facility Limit – A $ 30 million.
  • Agreed Margin – 7% per annum on the outstanding loan balance.
  • Duration – Three years, amortizable over the last 18 months of the loan.
  • Guaranteed on the assets of Pantoro Limited and Halls Creek Mining Pty Ltd (the operating subsidiary of Halls Creek).

Pantoro also agreed to issue GCI over 36 million call options with an exercise price of $ 0.275 per share. These options have a term of three years.

About Global Credit Investments

Global Credit Investments operates four core solutions – Lending to Lenders, Asset Backed Financing, High Growth Financing and Special Opportunity Financing – to meet the individual financing needs of borrowers.

GCI has funded transactions on a number of asset classes including resources, term loans, invoices receivable, equipment finance, consumer loans, Buy Now Pay Later plans, loans – real estate relays, financing of track books and agricultural financing.


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