Bullish Sign? - Bounced off 200 EMA, page-4121

Not just on time but ahead of time ….
Good news for Panoramic and fits in with the NRW/Primero reputation?

cheers

https://thewest.com.au/business/min...ckel-concentrate-from-savannah-ng-b882046319z

Panoramic celebrates first nickel concentrate from Savannah

Stuart McKinnonThe West Australian
Wed, 20 October 2021 11:32AM
Stuart McKinnon


Panoramic Resources Savannah nickel mine in the Kimberley. Credit: Wayne Riley/supplied

Panoramic Resources has defied WA’s labour shortage to produce first concentrate from its Savannah nickel mine in the East Kimberley three weeks ahead of schedule.

The company revealed today its contractor Primero had commissioned the 1Mtpa processing plant with the first nickel-copper-cobalt concentrate being stockpiled at site ahead of its transport to Wyndham port next week.

Primero, part of NRW Holdings, has been engaged to operate and maintain the processing and surface infrastructure at Savannah, while Perenti Global’s Barminco is providing underground mining services.

Panoramic said all site-based management and technical roles had been filled with 95 per cent of the recruited workforce WA-based, with the balance filled by Northern Territory-based workers.
The company said it expected to ship its first concentrate from Wyndham in December to Chinese offtake partner Jinchuan.
Managing director Victor Rajasooriar said Panoramic would now target ramp-up to steady state production over the coming months.

He said a surface ore stockpile of 120,000t would provide consistent feed to the processing plant and reduce any risk to throughput rates.
The company joins a swag of WA nickel players restarting shuttered operations on the back of growing sentiment for the future of the metal in a decarbonised world.

Mincor Resources is well advanced with a proposed restart of its Kambalda operations, Poseidon Nickel recently committed to an expedited reboot of its Black Swan mine north-east of Kalgoorlie and Western Areas is close to resuming operations at the old Cosmos mine with its Odysseus project.

Savannah, which lies 100km north of Halls Creek, is expected to deliver annual production of 9072 tonnes nickel, 4683t copper and 676t cobalt in concentrate over a 12-year mine life at all-in costs of $6.36/lb of payable nickel, net of copper and cobalt by-product credits and royalty payments.

Western Areas holds a 19.9 per cent stake in Panoramic while non-executive director Peter Sullivan holds a 17.6 per cent stake through his listed investment company Zeta Resources.
Panoramic shares were up 0.5¢ to 23.5¢ at 11.25am.