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Panoramic Resources leverages high-grade polymetallic find for Savannah restart

Panoramic Resources Ltd (ASX:PAN) managing director Peter Harold updates Proactive Investors on the nickel producer’s resumption of operations at its Savannah Nickel Mine in WA, and the addition of copper and cobalt credits from its high-grade Savannah North discovery.

“At the moment we’ll mine the old orebody for another year and then we’ll be ramping up to full production out of Savannah North – the great thing about Savannah North is the grade of nickel is about 20% higher, so the grade is about 1.5% nickel, and the cobalt grade is double,” Harold says.

He continues, “so what will happen is we’ll produce around … 11,000 tonnes of nickel, compared to about 7,000 tonnes per annum last time; about 6,000 tonnes of copper compared to about 5,000 tonnes previously; and double the amount of cobalt … about 8,000 tonnes instead of 4,000.

“It’s very much a polymetallic mine and very much focused on some of these battery and electric vehicle metals.”

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Price: 0.315 AUD

ASX:PAN
Market: ASX
Market Cap: $174.38 m
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