Ann: Savannah Nickel Project - Operational Update, page-29

Makes Trafiguras $45M debt payment look a windfall
if mill time is down for s longer period, market expecting a CR

This mine and mill was sold to PAN for a song, now we know why.
Yet the mill can be fixed and mining continues.

This has put PAN in a permanent hole.
lower production, higher costs, mill issues, not a good result.
Yet still a bargain
I expect IGO or AF to step in here and either bid or make a play for 20% like they did with WSA MCR Noront SIR.

PAN now vulnerable to a bid.