Panoramic to restart Savannah. WSA owns 19.9% of Panoramic, so good news as the PAN share price advances:
Panoramic Resources is set to bring the Savannah nickel operation in Western Australia back to life following a rigorous 12-month review.
The company board has approved of its restart, with underground mining at Savannah North scheduled to resume in August this year.
The restart decision is underpinned by a five-year nickel and copper concentrate offtake agreement with Trafigura Group, which will last from February 2023 to 2028.
Trafigura intends to provide a $US45 million ($58.8 million) loan to help cover the entire costs of Savannah’s restart.
“Production from Savannah is now committed until February 2028, or for about half of the current 12-year mine life,” Rajasooriar said.
https://www.australianmining.com.au/news/panoramic-to-rouse-savannah-with-315m-in-contract-awards/
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Ash here.
Above I have agitated for WSA to 'creep' up the PAN register. The opportunity is now different with all output going to Trafigura. WSA can still usefully buy on weakness.
Ash
