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Panoramic Resources opens data room for multiple parties

Panoramic’s board reiterates that shareholders should take no action regarding the takeover offer from IGO.

Panoramic Resources Ltd - Panoramic Resources opens data room for multiple parties
Data rooms, usually virtual these days, are secure spaces where confidential documents can be kept and only read by people authorised to access

Panoramic Resources Ltd (ASX:PAN) has established a data room and will provide a number of parties, including Independence Group NL (ASX:IGO) with access.

The data room provides information to interested parties to conduct due diligence, to allow them the opportunity to put forward alternative proposals.

The board believes these alternative proposals have the potential to maximise value for Panoramic shareholders.

Operational review underway, update due in coming weeks

The Panoramic board is focussed on delivering the full potential of the Savannah Project.

First development ore was produced from the Savannah North deposit this week and ore production is expected to ramp up over the coming quarters.

An operational review is currently underway targeting an improved operational performance at Savannah.

Outcomes of the operational review, including updated production guidance for FY2020, are due within the coming two week

Quick facts: Panoramic Resources Ltd

Price: 0.335 AUD

ASX:PAN
Market: ASX
Market Cap: $194.03 m
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