Panoramic Resources (ASX:PAN) - MD and CEO, Victor Rajasooriar
MD and CEO, Victor Rajasooriar
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  • Panoramic Resources (PAN) prepares for its first shipment of nickel-copper-cobalt concentrate from its Savannah Nickel Project in WA
  • The first shipment is expected to arrive at Wyndham Port on December 20 for loading and will leave eight days later
  • The ship is sailing to Port of Lianyungang in China for delivery to offtake partner Jinchuan
  • Processing of the ore continues at Savannah, with the second shipment expected mid-February
  • On the market today, Panoramic is trading in the grey at 26.5 cents

Panoramic Resources (PAN) is preparing for its first shipment of nickel-copper-cobalt concentrate from its Savannah Nickel Project, scheduled just before the New Year.

The first shipment is expected to arrive at Wyndham Port on December 20 for loading.

The ship will then leave on December 27 and sail to Port of Lianyungang, Jiangsu Province, China, for delivery to offtake partner Jinchuan.

Currently, the Wyndham Port shed contains 8950 tonnes of concentrate, with an additional 500 tonnes on-site at Savannah.

Panoramic has also increased the size of the first shipment to a range of 9000 to 10,000 tonnes.

The company is expecting to receive the payment of the first ship in early January 2022.

Processing of the ore continues at Savannah, with the second shipment expected in mid-February.

Notably, with the relaxed border restriction in early February, Panoramic believes this will ease labour challenges.

Managing Director and CEO Victor Rajasooriar is pleased with how the team is progressing on-site and are on track for the first shipment.

“Concentrate production is continuing as planned and is being supported by stockpiled ore at surface. We are managing subsequent labour accessibility issues caused by the current border restrictions and are seeing the benefit of our ore stockpile strategy. We expect conditions to improve in February,” he said.

“Our grade control drill program is returning strong results that support the resource model, giving us greater confidence as we ramp up stoping activities in the coming months.”

On the market today, Panoramic is trading in the grey at 26.5 cents at 12:41 pm AEDT.

PAN by the numbers
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