Panoramic production targets on track

Company News

Panoramic Resources Limited (ASX:PAN) remains on track for full year nickel production of between 18 and 19,000 tonnes, after posting just under 5,000 tonnes in the September quarter.

The miner generated $5 million in cash flow from its operations in the quarter, and currently holds $69 million in liquid assets.

Panoramic also achieved a 12 per cent increase from the previous quarter in Nickel production from its Savannah operation, and continues to target new regions within the prospect.

It has confirmed a cost reduction priority goal of $10-15 million across the business through savings and productivity initiatives.
Panoramic Resources posted a net profit of $18.2 million in the 2012 financial year.

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