Panoramic Resources Surprises with Quarterly Production Record

- April 7th, 2016

Mining Weekly reported that Panoramic Resources Ltd. (ASX:PAN) set a new quarterly production record in the most recent quarter, even though it made the decision to idle its Savannah operations.

Mining Weekly reported that Panoramic Resources Ltd. (ASX:PAN) set a new quarterly production record in the most recent quarter, even though it made the decision to idle its Savannah operations.
As quoted in the market news:

The Savannah project delivered 2 861 t of nickel-in-concentrate during the three months under review, which was up from the 2 599 t of nickel-in-concentrate produced during the previous quarter.
Panoramic in January this year took the decision to idle the Savannah operation on the back of declining nickel prices and an uncertain outlook for the price over the foreseeable future. The decision resulted in 53 redundancies during the March quarter.
The project was expected to be moved onto care and maintenance during the June quarter.
While the Savannah mine was on care and maintenance, Panoramic would conduct additional exploration and complete a feasibility study on the Savannah North nickel project.

Click here to read the full Mining Weekly report.

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