News: ZER Panoramic Resources Maintain 'Take No Action' Recommendation On IGO'S Offer

Nov 25 (Reuters) - Independence Group NL (IGO) :

• PANORAMIC DIRECTORS MAINTAIN THEIR RECOMMENDATION TO TAKE NO ACTION IN RELATION TO IGO'S OFFER
• ANTICIPATES A NEED FOR ADDITIONAL SHORT-TERM FUNDING OF $30 MILLION
• COMPANY HAS EXECUTED A A$10.5 MILLION UNSECURED LOAN AGREEMENT WITH ZETA RESOURCES LIMITED
• CONSIDERING OPTIONS FOR SHORT-TERM FUNDING, INCLUDING AN ENTITLEMENT OFFER OF NEW SHARES TO PANORAMIC SHAREHOLDERS
• NEW FY20 PRODUCTION GUIDANCE OF 7,000-7,500T NI CONTAINED, 4,500-5,000T CU CONTAINED & 400-450T CO CONTAINED FOR SAVANNAH PROJECT