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- Panoramic Resources (PAN) sees a second shipment of nickel-copper-cobalt concentrate depart from its Savannah Nickel Project in WA
- A shipment containing more than 9,400 tonnes of concentrate set sail for China, bound for delivery to Panoramic’s offtake partner
- As per the company’s offtake agreement with Jinchaun, an invoice for US$14.6 million (around A$20.5 million) has been submitted, with payment expected next week
- Following the second shipment, Panoramic Resources says its concentrate stocks are sitting at approximately 160 tonnes, with a third shipment now booked for April 2022
- Panoramic Resources last traded at 26 cents on February 16
Panoramic Resources (PAN) has waved goodbye to its second shipment of nickel-copper-cobalt concentrate from its Savannah Nickel Project in Western Australia.
Since the restart of operations at the project, a shipment containing 9,409 tonnes of concentrate set sail from Wyndham Port on February 11, bound for the Port of Lianyungang in China.
Contractor CGL was responsible for loading the ship, which took four days due to rain delays. The ship was loaded to cargo capacity and departed on February 15 to travel to offtake partner, Jinchaun.
As per the offtake agreement with Jinchuan, a provisional invoice has been submitted, with payment expected next week. The payment of US$14.6 million (around A$20.5 million) is inclusive of all three metals contained in the concentrate.
Following the second shipment, Panoramic Resources said its concentrate stocks are sitting at approximately 160 tonnes.
“It’s pleasing to have successfully completed our second shipment of concentrate destined to our offtake partner in China,” said PAN Managing Director and CEO, Victor Rajasooriar.
“Looking ahead, with metal prices forecast to remain buoyant into 2022, we look forward to more successful shipments throughout the year.”
A third shipment has now been booked, with the MV Maasgracht cargo ship expected to return to Wyndham Port in early April 2022.
Panoramic Resources last traded at 26 cents on February 16.
