Sam Macpherson

Good morning everyone and thank you for joining us for the Pantoro Gold quarterly webinar update. Today's webinar will be presented by Pantoro Gold Managing Director, Paul Cmrlec, who will provide an update on operations at the Norseman Gold Project, following the release of the company's March 2026 quarterly activities report.

Please feel free to submit your questions throughout today's webinar using the Q&A function located at the bottom of your screen. At the end of Paul's presentation, time permitting, he will address as many of your questions as possible. And where appropriate, we will group similar questions together.

Before we get things started, I would like to remind you that today's webinar is being recorded.

Paul, over to you.

Paul Cmrlec
CEO, MD & Executive Director

Thanks very much, Sam, and thanks, everyone, for joining the webinar this morning. So the March quarter saw production down a little bit on what we expected, and we'll go through the reasons for that. But I think despite that, you can see that we've had a strong cash flow. We've generated just under $38 million of cash and gold increase during the quarter for an $88 million EBITDA. And we've closed the quarter with just over $250 million of cash and gold, which is, I guess, the level that we aim to get to, to commence the buyback, which we also commenced during March this year.

In terms of where we're heading, the production flexibility doesn't continue to increase at Scotia. I'll look at Scotia a little more because it was down during the quarter, but it's in a great position