Panoramic has recently completed a Feasibility Study for its Savannah nickel project, in Western Australia's East Kimberley region. The Feasibility Study demonstrated compelling economics and increasing commodity prices are offering a considerable boost to the company as it seeks to recommence mining at Savannah.
"Nickel looks a lot better than it did 12 months ago, when we put the mine on care and maintenance. There's been a strong recovery there - the nickel price is up about 50 percent - and there are a lot of analysts forecasting higher commodity prices," Peter Harold said.
"Cobalt is another commodity that we are exposed to and we've seen rapid rises in the cobalt price," he said.
The Company is continuing to pursue its strategy of developing their high-quality nickel projects, while also exploring for precious metals and cobalt, establishing Panoramic as one of Australia's leading diversified miners.
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About Panoramic Resources Limited
Panoramic Resources Limited (ASX:PAN) is a Western Australian mining company formed in 2001 for the purpose of developing the Savannah Nickel Project in the East Kimberley region of Western Australia. Panoramic successfully commissioned the $65 million Savannah Project in late 2004 and went on to purchase and restart the Lanfranchi Nickel Project near Kambalda, Western Australia in 2005. Following the successful development of the nickel projects, the Company diversified its resource base to include gold and platinum group metals (PGM). The Gold Division consists of the Gum Creek Gold Project located near Wiluna, Western Australia.
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