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.

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.