Pantoro (ASX:PNR) reported gold production of 19,438 ounces at its Norseman Project in Western Australia in the December 2024 quarter, down from 21,374 ounces in the September quarter, according to a Wednesday filing with the Australian bourse.

Gold was produced at an all-in sustaining cost (AISC) of AU$2,356 per ounce, down from AU$2,395 per ounce last quarter, the filing said.

For fiscal 2025, the company expects gold production of about 90,000 ounces at an AISC of AU$2,200 per ounce. It originally expected to produce about 100,000 ounces at an AISC of AU$1,900 per ounce.

It expects about 23,000 ounces of gold production in the March quarter.

The company's cash and cash equivalents stood at AU$105.87 billion for the quarter ended Dec. 31, 2024, compared with AU$103.93 billion in the previous quarter.

Shares of the company rose 5% in recent Wednesday trade.