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 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.

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