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Panoramic Resources Updates FY20 Production Guidance

Panoramic Resources (ASX:PAN,OTC Pink:PANRF) has provided an updated short-term production outlook for the Savannah nickel mine. Highlights are as follows: Updated FY20 production guidance driven by expected mining contract equipment and personnel mobilisation timing, and further required mine scheduling changes in Savannah remnant ore. Savannah North remains on schedule for first stoped ore in the … Continued

Panoramic Resources (ASX:PAN,OTC Pink:PANRF) has provided an updated short-term production outlook for the Savannah nickel mine.

Highlights are as follows:

  • Updated FY20 production guidance driven by expected mining contract equipment and personnel mobilisation timing, and further required mine scheduling changes in Savannah remnant ore.
  • Savannah North remains on schedule for first stoped ore in the current quarter and ramp-up of ore volumes through calendar 2020.
  • Panoramic assessing funding options including options that do not include raising additional equity capital, and potential change of control transaction discussions continue.
  • Total FY20 production is now expected to be 5.2 – 5.6 thousand tonnes (kt) contained nickel, 3.4 – 3.7kt contained copper and 280 – 320 tonnes (t) contained cobalt. This compares with previous guidance of 7.0 – 7.5kt contained nickel, 4.5 – 5.0kt contained copper and 400 – 450t contained cobalt and 1H FY20 actual production of approximately 2.38kt contained nickel, 1.55kt contained copper and 119t contained cobalt.

Click here to read the whole Panoramic Resources (ASX:PAN,OTC Pink:PANRF) press release.

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