Panoro Announces Funded 2026 Drilling Program for Cotabambas Project
Panoro Secures Funding for 2026 Drill Campaign as Strategic Board Overhaul Signals Shift Toward Development
The most recent news (March 2, 2026) announces a 15,000-metre drilling program at the flagship Cotabambas Copper-Gold-Silver Project in Peru. This follows a series of successful financings totaling approximately $17.3 million in gross proceeds. The program targets high-grade mineralization at the North and South Pits and exploration of satellite targets. This operational update follows a significant board restructuring (Feb 23, 2026) which introduced Keith Peck as Chairman and Andrew Kaip as a Director, bringing deep investment banking and capital markets experience to the leadership team.
The news is Routine - Positive. While the $17.3 million capital raise is substantial for a junior explorer, it is the culmination of several previously announced tranches and private placements (Oct 2025 through Feb 2026). The market was already aware of the fundraising efforts; the "new" information is the specific allocation to a 15,000-metre program. - Funding Validation: The company successfully pivoted from a cancelled $10M raise in August 2025 to securing over $17M by early 2026, demonstrating renewed investor confidence. - Resource De-risking: The focus on converting "Inferred" high-grade resources to "Indicated" is a necessary step for the upcoming Pre-Feasibility Study (PFS). - Management Strength: The appointment of Keith Peck (ex-Orezone) and Andrew Kaip suggests a shift from pure exploration toward project financing and strategic M&A positioning.
Panoro is focused on the Cotabambas Project in Peru. - Resource: 1.0 billion tonnes total. - High-Grade Core: 220 million tonnes at 1.2% CuEq. - Status: Advanced exploration/PEA stage, moving toward PFS. - Secondary Asset: Antilla Project (currently being sold/optioned to Calisto Cobre for cash and NSR royalties).