Panoramic Resources plans restart for Savannah project

Company News

by Kathy Skantzos

Mining company Panoramic Resources (ASX:PAN) is in the process of an updated feasibility study and restart plan for its Savannah nickel project, with the intention to resume exploration activities including drill testing this year.

There was no nickel exploration at the Savannah and Lanfranchi nickel projects during the December quarter.

Research work by Curtin University is ongoing at Panton in Western Australia’s Kimberley region, and discussions on exploration results continue at Thunder Bay North in Canada.

Exploration at the Gum Creek gold mine continues, which the company has a 51 per cent interest in with Horizon Gold (ASX:HRN).

The company reported no injuries or environmental incidents recorded for the quarter, and group cash at the end of the quarter totalled $5.7 million.

Shares in Panoramic Resources (ASX:PAN) closed 3.75 per cent lower yesterday at $0.39.

Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.