Panoramic Resources Ltd
Panoramic Resources Ltd
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Severe weather disruptions affecting its mining operations and logistics have lowered March qtr (Q3FY23) concentrate production by West Australian Panorama Resources’ Savannah nickel mine to 19,746dmt, down from 20,274t in the previous period.
Contained metal production was 1,465t (Q2: 12,755t) nickel, 825t (996t) copper and 99t (105t) cobalt.
West Australian miner Panoramic Resources has outlined average production of 9,402tpa nickel, 5,046tpa copper and 714tpa cobalt metal in concentrate for 12-plus years in an updated mine plan for its revived 100%-owned Savannah mine in the East Kimberley region.
All-in costs for FY24-35 are forecast at $A8.57/lb payable nickel.
West Australian nickel miner Panoramic Resources is continuing the ramp-up of operations at its Savannah project without interruptions from massive floods across much of the Kimberley region.
Panoramic says mining and processing activities at the mine site and transport of concentrate to Wyndham port have not been affected.
The company has altered supply routes for some consumables to avoid damaged bridges and flooded roadways blocking vehicles from Perth, 3,000km to the southeast.
Australian miner Panoramic Resources remains on track for its FY23 guidance as its ramp-up of the revived Savannah nickel-copper-cobalt mine in WA's Kimberley region built Sept qtr (Q1) lifted concentrate production to 18,010t (Q4FY22: 14.079t).
Q1 contained metal production was 1.331t Ni, 817t Cu and 87t Co, compared to 1,009t Ni, 547t Cu and 71t Co in the previous period.
Two concentrate shipments were completed in Q1, with the next shipment due within days.
The ramp-up of mining at the Savannah project in Western Australia since operations resumed in late 2021 have seen Panoramic Resources achieve production of 14,079t concentrate containing 1,009t nickel, 547t copper and 71t cobalt in the year to end-June (FY22).
Panoramic ended the period with cash of $A22M, up from $13.7M at end-March.
Australian miner Panoramic Resources has established metal-in-concentrate production guidance of 6,600-7,100t nickel, 4,100-4,500t copper and 400-500t cobalt for the year to end-June 2023 at its Savannah nickel project.
The continuing ramp-up of underground mining from first commercial production in April is expected to deliver C1 cash costs of $A7.30-8.30/lb payable nickel.
The ramp-up of operations following the restart of mining and processing at its 100%-owned Savannah nickel project has lifted Panoramic Resources’ March qtr (Q3FY22) concentrate output to 17,498dmt, from 11,115t in the previous period.
Contained metal production at the underground nickel sulphide mine in Western Australia’s Kimberley region rose to 1,256t nickel (Q4FY2021: 779t), 802t copper (559t) and 81t cobalt (53t).
The restoration of ore production at its Savannah nickel project in July 2021 has enabled West Australian miner Panoramic Resources to report NPAT of $A1.2M for the Dec half-year (H1FY22), up from $7,000 pcp.
Following its first nickel-copper-cobalt concentrate shipment of 19,029dmt to offtake partner Sino Nickel and Jinchuan Group in Dec, revenue totalled $21.63M (H1FY21: nil). Concentrate production was 11,115t containing 779t Ni, 559t Cu and 53t Co.
West Australian miner Panoramic is targeting steady-state production at its revived Savannah underground nickel sulphide mine after completing its first concentrate shipment in the Dec qtr (Q2FY22).
Production was 779t Ni, 559t Cu and 53t Co in 11,115dmt concentrate for the qtr, with the processing of surface stockpiles helping to offset labour accessibility issues.
MD-CEO Victor Rajasooriar says Panoramic is targeting four export shipments of 7,000-10,000t concentrate are scheduled to end-June.
The 20-month hiatus at the Savannah underground nickel sulphide mine in Western Australia’s Kimberley region has ended with Panoramic Resources waving off a 10,865t shipment of nickel-copper-cobalt concentrate for delivery to Chinese offtake partner Jinchuan Group on Dec 26, meeting its end-2021 target.
Panoramic is now working towards its second shipment, due in Feb, with MD-CEO Victor Rajasooriar welcoming the prospect of shipping into nickel, copper and cobalt prices that continue to strengthen.