Annonce • Jan 09
Panoramic Resources Limited Announces Savannah Nickel Project Operations to Be Suspended Panoramic Resources Limited provided the following update on the Savannah Nickel Project. Whilst operations have continued, including a shipment of approximately 10,000 tonnes of nickel concentrate on 3 January 2024, nickel prices have continued to trend lower. After further engagement with major creditors, key suppliers and other stakeholders, the Administrators have determined that operations at the Savannah Nickel Project will be suspended over the coming days. As a consequence of the decision to suspend operations at the Savannah Nickel Project, the majority of the c.140 Panoramic staff on-site at the Savannah Nickel Project will be stood down and unfortunately made redundant, some with immediate effect. Employees with unpaid accrued entitlements are creditors in a voluntary administration of a company with certain statutory priority entitlements ranking above the claims of unsecured creditors. Employees may also be entitled to make a claim against the Commonwealth Fair Entitlements Guarantee (FEG) scheme in the event of a shortfall in distributable funds available to meet certain of their entitlements, depending on the outcome of the administration process. An update in this regard will be provided by the Administrators in due course. The Administrators will continue to collaborate closely with creditors and other stakeholders of the companies to which they are appointed to maximise the financial outcomes for all stakeholders. Price Target Changed • Nov 15
Price target decreased by 9.6% to AU$0.10 Down from AU$0.11, the current price target is an average from 4 analysts. New target price is 193% above last closing price of AU$0.035. Stock is down 81% over the past year. The company is forecast to post earnings per share of AU$0.00004 next year compared to a net loss per share of AU$0.016 last year. Annonce • Sep 07
Panoramic Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 5.922446 million. Panoramic Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 5.922446 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 118,448,910
Price\Range: AUD 0.05
Security Features: Attached Options Reported Earnings • Aug 31
Full year 2023 earnings released: AU$0.016 loss per share (vs AU$0.003 profit in FY 2022) Full year 2023 results: AU$0.016 loss per share (down from AU$0.003 profit in FY 2022). Revenue: AU$195.5m (up 116% from FY 2022). Net loss: AU$33.2m (down AU$39.4m from profit in FY 2022). Revenue is forecast to grow 8.7% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Metals and Mining industry in Australia. Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. New Risk • Aug 03
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 15% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Shareholders have been diluted in the past year (15% increase in shares outstanding). Market cap is less than US$100m (AU$117.9m market cap, or US$77.0m). Price Target Changed • Jul 29
Price target decreased by 29% to AU$0.13 Down from AU$0.18, the current price target is an average from 3 analysts. New target price is 144% above last closing price of AU$0.052. Stock is down 73% over the past year. The company is forecast to post a net loss per share of AU$0.0087 compared to earnings per share of AU$0.0031 last year. New Risk • Jul 28
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 15% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Market cap is less than US$100m (AU$112.8m market cap, or US$75.6m). Major Estimate Revision • Jul 27
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from AU$206.4m to AU$203.9m. Losses expected to increase from AU$0.0077 per share to AU$0.0087. Metals and Mining industry in Australia expected to see average net income decline 0.4% next year. Consensus price target of AU$0.18 unchanged from last update. Share price fell 43% to AU$0.055 over the past week. Price Target Changed • Jun 16
Price target decreased by 10% to AU$0.18 Down from AU$0.20, the current price target is an average from 4 analysts. New target price is 84% above last closing price of AU$0.098. Stock is down 54% over the past year. The company is forecast to post a net loss per share of AU$0.0073 compared to earnings per share of AU$0.0031 last year. Price Target Changed • Mar 23
Price target decreased by 21% to AU$0.22 Down from AU$0.28, the current price target is an average from 3 analysts. New target price is 40% above last closing price of AU$0.16. Stock is down 47% over the past year. The company is forecast to post earnings per share of AU$0 for next year compared to AU$0.0031 last year. Price Target Changed • Mar 20
Price target decreased by 9.0% to AU$0.27 Down from AU$0.30, the current price target is an average from 3 analysts. New target price is 116% above last closing price of AU$0.13. Stock is down 58% over the past year. The company is forecast to post earnings per share of AU$0.089 for next year compared to AU$0.0031 last year. Major Estimate Revision • Feb 02
Consensus EPS estimates increase by 63% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from AU$273.9m to AU$277.0m. EPS estimate increased from AU$0.055 to AU$0.089 per share. Net income forecast to grow 2,825% next year vs 1.8% decline forecast for Metals and Mining industry in Australia. Consensus price target down from AU$0.31 to AU$0.30. Share price fell 15% to AU$0.17 over the past week. Board Change • Dec 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. MD, CEO & Executive Director Rickman Rajasooriar was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Nov 02
Consensus EPS estimates increase by 80% The consensus outlook for earnings per share (EPS) in 2023 has improved. 2023 revenue forecast increased from AU$264.0m to AU$272.2m. EPS estimate increased from AU$0.05 to AU$0.09 per share. Net income forecast to grow 2,825% next year vs 2.9% decline forecast for Metals and Mining industry in Australia. Consensus price target up from AU$0.28 to AU$0.29. Share price rose 10.0% to AU$0.17 over the past week. Price Target Changed • Sep 29
Price target decreased to AU$0.28 Down from AU$0.31, the current price target is an average from 3 analysts. New target price is 45% above last closing price of AU$0.20. Stock is down 4.9% over the past year. The company is forecast to post earnings per share of AU$0.05 for next year compared to AU$0.0031 last year. Annonce • Sep 29
Panoramic Resources Limited Reports 2022 Mineral Resource and Ore Reserve Statement for the Savannah Nickel Project Panoramic Resources Limited reported the 2022 Mineral Resource and Ore Reserve statement for the Savannah Nickel Project (Savannah or the Project). In the period since the Mineral Resource and Ore Reserve statements were reported in July 2021, a broad spaced Resource definition drilling program was completed between the 1500 and 1250 RL levels within the Savannah North deposit. The Mineral Resource Estimate (MRE) for the Savannah Nickel Project is 13.88 million tonnes grading 1.52% Ni, 0.69% Cu and 0.10% Co for a total contained metal in Resource of 211,200t Ni, 95,300t Cu and 13,900t Co. The MRE is current as of 1 July 2022. All MREs for the Project are reported to 2012 JORC standards and at a cut-off grade of 0.50% Ni. The 1 July 2022 Savannah Nickel Project (including Savannah North) Ore Reserve stands at 8.5Mt grading 1.21% Ni, 0.58% Cu and 0.09% Co for total contained metal of 102,700t Ni, 49,400t Cu and 7,200t Co. The largely undeveloped Savannah North orebody at Savannah remains open along strike and at depth, providing significant potential to bring more material into the Mine Plan with future exploration and underground drilling to be carried out as mine development advances deeper into the Savannah North orebody. Operations at Savannah were restarted in 2021 and the Project was successfully recommissioned with first concentrate shipment achieved in December 2021. Mining successfully started at Savannah North and also targeted the remnants of Savannah. In total 0.4Mt at 1.05% Ni, 0.54% Cu and 0.07% Co for 4.3kt Ni, 2.2kt Cu and 0.3kt Co contained metal was mined in FY22. The updated Resource and Reserve statements as of 1 July 2022 takes into consideration this depletion. The drilling program in Savannah North consisted of a broad spaced drill out between the 1250 and 1500 RL providing the framework for mine development and stoping in the central, eastern and western sections of the Savannah North deposit. The Resource definition program throughout FY22 concluded a total of 9,682m drilled in Savannah North, which included 4,898m of grade control drilling. In June, the Company commenced a new underground drill program to test and infill the poorly drilled area of the Savannah orebody located immediately below historical workings and above the 900 Fault. The drill program is being undertaken from a drill cuddy on the 1425m Level that was recently developed as part of ongoing mine access to this area of the Savannah mine. Results for the initial drilling completed above the 900 Fault from the 1425m cuddy have returned significantly thicker mineralisation intercepts than predicted by the current Savannah resource model for this area of the orebody. The increased thicknesses are particularly noticeable at depth as the orebody approaches the 900 Fault and is therefore likely to increase the current Mineral Resource in this area. At this stage, the drilling program continues and the updated Mineral Resource is yet to incorporate the additional drilling results. At Savannah, the only depletion of the Resource has taken place as a result of mining during fiscal year 2022. The drilling focus at Savannah North for fiscal year 2023 will shift to below the 1250 RL. A dedicated drill platform in the 1321 central access drive has been developed and is well positioned to drill both the upper and lower mineralisation lenses between the 1250 and 900 RL. At Savannah, the 1425m level and subsequent mine development in this area will provide improved (near perpendicular to strike) drill angles to help evaluate this part of the Savannah orebody. When completed this development is also ideally positioned to continue testing the orebody below the 900 Fault which currently contains a Mineral Resource of 14,900 nickel tonnes at an average grade of 1.65% nickel and open in all directions. Annonce • Sep 16
Panoramic Resources Limited Provides Production Guidance for the Fiscal Year 2023 Panoramic Resources Limited provided production guidance for the fiscal year 2023. For the year, the company expects production of 6,600t to 7,100t of nickel, 4,100t to 4,500t of copper and 400t to 500t of cobalt in concentrate. Major Estimate Revision • Sep 01
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 revenue forecast increased from AU$274.6m to AU$306.2m. EPS estimate unchanged from AU$0.01 at last update. Metals and Mining industry in Australia expected to see average net income decline 1.2% next year. Consensus price target down from AU$0.31 to AU$0.30. Share price fell 4.3% to AU$0.22 over the past week. Annonce • Aug 25
Panoramic Resources Limited Announces More Strong Results from Savannah Underground Drilling Panoramic Resources Limited provided an update on ongoing infill underground Resource definition drilling at the Company's Savannah Nickel Project in Western Australia. In the June quarter the Company commenced a new underground drill program to test and infill the poorly drilled area of the Savannah orebody located immediately below historical workings and above the 900 Fault. The drill program is being undertaken from a drill cuddy on the 1425 level that was recently developed as part of ongoing mine access to this area of the Savannah mine. The 1425 level and subsequent mine development in this area provides much improved drill angles (near perpendicular to strike) to evaluate this part of the Savannah orebody. When completed this development is also ideally positioned to continue testing the orebody below the 900 Fault which currently contains a Mineral Resource of 14,900 nickel tonnes at an average grade of 1.65% nickel. Results for the third drill fan of three holes completed above the 900 Fault from the 1425 drill cuddy continue to return significantly thicker mineralisation intercepts than predicted by the current Savannah resource model. In the third completed drill fan, the increased thicknesses are noticeable in all three drill holes with the highest grade reported in the second and central drill hole (KUD1937) as the orebody approaches the 900 Fault. The third and lowest hole of the fan (KUD1942) intersected mineralisation outside the resource and effectively extends the Savannah Resource in this area. All three holes have been successful in extending the current Mineral Resource along strike or down plunge. The significantly thicker mineralised intercepts returned in the third fan above the 900 Fault, coupled with the flatter plunge on the mineralisation indicated by KUD1942, mirror the increased width and plunge observed in the initial two fans and will increase the current Mineral Resource in this area of the mine. The results for the three drill holes completed on the third drill fan of the current program targeting above the 900 Fault are: 19.90m at 0.96% Ni; 0.71% Cu; 0.05% Co from 104.15m in KUD1932 including 8.90m at 1.33%Ni; 0.57% Cu; 0.07% Co from 104.15m; 16.95m at 0.97% Ni; 0.42% Cu; 0.05% Co from 114.05m in KUD1937 including 5.95m at 2.05% Ni; 0.70% Cu; 0.10% Co from 114.05m; 9.00m at 0.82% Ni; 0.25% Cu; 0.04% Co from 140.3m in KUD1942. The aim now remains to complete the program pattern of holes above the 900 Fault followed by the update of the Mineral Resource and mine plan for this area during the calendar year. Once the drill program above the 900 Fault is completed the plan is to then begin testing and upgrade the Savannah resource below the 900 Fault in 2023. Annonce • Aug 23
Panoramic Resources Limited, Annual General Meeting, Oct 20, 2022 Panoramic Resources Limited, Annual General Meeting, Oct 20, 2022, at 12:00 W. Australia Standard Time. Location: City of Perth Library 573 Hay St, Perth, Western Australia Perth United Kingdom Major Estimate Revision • Jul 23
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from AU$111.3m to AU$109.4m. EPS estimate also fell from AU$0.01 per share to AU$0.01 per share. Net income forecast to grow 7,441% next year vs 33% growth forecast for Metals and Mining industry in Australia. Consensus price target down from AU$0.35 to AU$0.31. Share price was steady at AU$0.18 over the past week. Price Target Changed • Jul 22
Price target decreased to AU$0.32 Down from AU$0.35, the current price target is an average from 3 analysts. New target price is 75% above last closing price of AU$0.18. Stock is up 8.8% over the past year. The company is forecast to post earnings per share of AU$0.011 for next year compared to AU$0.00014 last year. Annonce • Jul 21
Panoramic Resources Limited Provides Updated on Underground Savannah Drilling Panoramic Resources Limited provided an update on ongoing infill underground Resource definition drilling at the Company's Savannah Nickel Project in Western Australia. In the June quarter the Company commenced a new underground drill program to test and infill the poorly drilled area of the Savannah orebody located immediately below historical workings and above the 900 Fault. The drill program is being undertaken from a drill cuddy on the 1,425m Level that was recently developed as part of ongoing mine access to this area of the Savannah mine. The 1,425m and subsequent mine development in this area provides much improved (near perpendicular to strike) drill angles to evaluate this part of the Savannah orebody. When completed this development is also ideally positioned to continue testing the orebody below the 900 Fault which currently contains a Mineral Resource of 14,900 nickel tonnes at an average grade of 1.65% nickel. Results for the initial drill fan of four holes completed above the 900 Fault from the 1425m cuddy have returned significantly thicker mineralisation intercepts than predicted by the current Savannah resource model for this area of the orebody. The increased thicknesses are particularly noticeable at depth as the orebody approaches the 900 Fault and is therefore likely to increase the current Mineral Resource in this area. The results for the four completed drill holes from the current program targeting above the 900 Fault are: 10.30m @ 1.29% Ni; 0.97% Cu; 0.06% Co from 128.0m in KUD1930A; 9.20m @ 1.24% Ni; 1.45% Cu; 0.07% Co from 121.3m in KUD1939; 15.15m @ 2.10% Ni; 1.35% Cu; 0.11% Co from 142.55m in KUD1944; 12.10m @ 1.45% Ni; 0.64% Cu; 0.07% Co from 189.0m in KUD1945. The first hole of the program, KUD1944 and strongest interval to date, shows Savannah-style massive sulphide breccia mineralisation. Encouragingly, the host rocks of the Savannah intrusion were intercepted and include a second mineralised lens in KUD1945 grading 8.00m @ 1.05% Ni; 0.45% Cu; 0.05% Co. Follow up drilling will determine the extent of the secondary mineralisation in planned fan drilling east and west of oblique section 1760mN. The aim now is to complete the program pattern of holes above the 900 Fault and then update the Mineral Resource model and mine plan for this area during the calendar year. Once the drill program above the 900 Fault is completed the plan is to then begin testing and upgrade the Savannah resource below the 900 Fault in 2023. Price Target Changed • Jun 22
Price target decreased to AU$0.35 Down from AU$0.38, the current price target is an average from 3 analysts. New target price is 59% above last closing price of AU$0.22. Stock is up 63% over the past year. The company is forecast to post earnings per share of AU$0.011 for next year compared to AU$0.00014 last year. Annonce • May 20
Panoramic Resources Limited Announces Savannah Nickel Surface Drilling Program Underway Panoramic Resources Limited advised that surface diamond drilling has commenced at the Company's Savannah Nickel Project in Western Australia. Following the conclusion of the Kimberley wet season, a DDH1 diamond drill rig has mobilised to site and is contracted to initially drill up to three surface diamond holes for approximately 2,000m. The focus of the drill program is to test previously modelled EM conductors at both the Stoney Creek and Northern Ultramafic Granulite intrusions. All completed drill holes will be cased for ongoing drill hole electromagnetic (DHEM) surveys. Stoney Creek: The Stoney Creek intrusion, located north of Sub Chamber D, was recognised as a discrete intrusion in 2018/19 when Company geologists first mapped the area. Aside from an outcropping area of ultramafic located on the eastern contact, the intrusion is largely composed of non-cumulate gabbro-gabbronorite rock types. The only drill hole completed at Stoney Creek to date is SMD188 in 2020 which encountered a consistent gabbroic rock type prior to exiting the intrusion at a depth of 392 metres and terminating in Tickalara Metamorphics at a depth of 529 metres. A planned DHEM survey of SMD188 was unsuccessful due to hole casing issues. However, subsequent EM soundings and fixed loop electromagnetic (FLEM) surveys completed over the intrusion has identified a strong, discrete anomaly at depth below the intrusion. This anomaly, which has been modelled as a steep west dipping conductor oriented sub-parallel to the eastern margin of the intrusion, is the current target for the new Stoney Creek drill hole. Northern Ultramafic Granulite: Located along the trend of the Savannah and Savannah North intrusions, drill hole SMD189 drilled in FY21 tested an historical EM anomaly proximal to the Northern Ultramafic Granulite. No evidence for the source of the historic EM anomaly was apparent at the modelled target depth of 550 metres. The drill hole was terminated in Tickalara Metamorphics at a depth of 628 metres. The subsequent DHEM survey of SMD189 identified a highly conductive source below and to the right of the drill hole. When jointly interpreted with the historic EM data, the SMD189 DHEM data indicate that between a depth of 300 metres and 500 metres down hole the drill hole passed sub-parallel to a series of bedrock conductors. The conductors are modelled to be located to the right of SMD189, commencing above the hole and extending below the hole at depth. The conductors identified by the DHEM are the primary target for the 2022 drill program which will commence immediately following the Stoney Creek drill program. The collar for the new 2022 drill hole will be located to the south of the previous SMD189 collar position in order to better improve drill angles. In addition to targeting the SMD189 conductors, a second hole is planned that will provide a deep DHEM platform to further explore the more prospective ultramafic eastern and south-eastern portion of the Northern Ultramafic Granulite. Major Estimate Revision • May 03
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from AU$125.9m to AU$122.8m. EPS estimate rose from AU$0.01 to AU$0.02. Net income forecast to grow 5,521% next year vs 35% growth forecast for Metals and Mining industry in Australia. Consensus price target of AU$0.38 unchanged from last update. Share price was steady at AU$0.32 over the past week. Price Target Changed • Apr 27
Price target increased to AU$0.38 Up from AU$0.34, the current price target is an average from 3 analysts. New target price is 14% above last closing price of AU$0.33. Stock is up 113% over the past year. The company is forecast to post earnings per share of AU$0.0075 for next year compared to AU$0.00014 last year. Major Estimate Revision • Apr 11
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from AU$114.4m to AU$125.9m. EPS estimate unchanged from AU$0.0075 at last update. Metals and Mining industry in Australia expected to see average net income growth of 39% next year. Consensus price target up from AU$0.34 to AU$0.38. Share price was steady at AU$0.37 over the past week. Price Target Changed • Apr 07
Price target increased to AU$0.38 Up from AU$0.34, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of AU$0.36. Stock is up 115% over the past year. The company is forecast to post earnings per share of AU$0.0075 for next year compared to AU$0.00014 last year. Annonce • Apr 06
Panoramic Resources Limited Provides an Update on Ongoing Infill Underground Resource Definition Drilling at the Company's Savannah Nickel Project in Western Australia Panoramic Resources Limited provided an update on ongoing infill underground Resource definition drilling at the Company's Savannah Nickel Project in Western Australia. Key points: Standout drill results returned from below the current mining horizon at Savannah North: 40.5m at 1.96% Ni, 0.75% Cu and 0.15% Co from 200.5m in KUD1891 - 16.0m at 2.08% Ni, 0.80% Cu and 0.16% Co from 170.0m in KUD1871 - Continued drill support for the recently identified Upper Splay from drill hole KUD1827: 0.5m at 1.43% Ni, 0.23% Cu and 0.07% Co from 17.7m (Upper Splay Mineralisation) - 4.4m at 1.05% Ni, 0.21% cu and 0.07% Co from 34.7m (Upper Mineralisation Lens) and - 5.4m at 1.34% Ni, 0.55% Cu and 0.10% Co from 86.7m (Lower Mineralisation Lens) - Drilling in both areas is ongoing with further results expected over the coming months.Savannah North - Resource Definition Drilling: Over recent months the Company has reported results for infill drill holes completed on the Western, Central and Eastern Zones of the Upper Mineralisation Lens at Savannah North. Following on from the last update the drilling focus was temporarily shifted to the area immediately below the current mining levels due to short-term access interactions with mining activities in the immediate area. Assay results for the first three holes completed in this area have been received and returned with better than expected results with all three holes returning thicker and higher-grade intersections than predicted. The standout drill result was drill hole KUD1891 which returned a combined Upper and Lower Mineralisation Lens intersection of 40.55m at 1.96% Ni, 0.75% Cu and 0.15% Co. The junction (bifurcation) between the Upper and Lower Mineralisation lenses at Savannah North is often an area of increased mineralisation thickness and grade. The previous best Savannah North intersection near the junction between the two mineralisation lenses was achieved by drill hole KUD1533 in 2015 which returned an intersection of 37.2m at 1.58% Ni, 0.67% Cu and 0.12% Co. The two other completed infill resource definition drill holes below the current mining levels, KUD1871 and KUD1874 returned Upper Mineralisation Lens intersections of 16.0m at 2.08% Ni, 0.80% Cu and 0.16% Co and 6.9m at 1.93% Ni, 1.03% Cu and 0.14% Co, respectively. Both intersections were also thicker and appreciably higher grade than predicted in those areas by the current Savannah North Resource model. In all three holes completed below the current mining levels, up to two mineralised intercepts are reported above the main Upper Mineralisation Lens intersections. These intercepts relate to minor hanging wall mineralised lenses that in places develop into potentially mineable widths and grades and will be assessed as part of the mine review process. Annonce • Apr 04
Panoramic Resources Limited Announces Completion of Third Concentrate Shipment from Savannah Panoramic Resources Limited announced the successful completion of the third shipment of nickel-copper-cobalt concentrate since the restart of operations at the Company's Savannah Nickel Project. Third Shipment The MV Maasgracht arrived at Wyndham Port on the afternoon of 28 March 2022. Stevedoring contractor CGL was responsible for loading the ship, which took four days. The ship was loaded to cargo capacity with a total of 10,347t nickel-copper-cobalt concentrate and departed on 1 April, sailing to the Port of Lianyungang in China for delivery to offtake partner Jinchuan. Following the third shipment, Port concentrate stocks are at approximately 237t and an additional 200t at the mine site. As per the offtake agreement with Jinchuan, a provisional invoice has been submitted with payment expected next week. The payment of USD 21.8 Million (AUD 29.2 Million) is inclusive of all three metals contained in the concentrate. The fourth ship will be booked in the coming weeks and is expected to arrive in Wyndham in late May. Price Target Changed • Mar 14
Price target increased to AU$0.34 Up from AU$0.31, the current price target is an average from 3 analysts. New target price is 11% above last closing price of AU$0.31. Stock is up 130% over the past year. The company is forecast to post earnings per share of AU$0.0075 for next year compared to AU$0.00014 last year. Annonce • Mar 04
Panoramic Resources Limited Provides Savannah Resource Definition Drilling Update Panoramic Resources Limited provided an update on ongoing infill and extensional underground resource definition drilling at the Company's Savannah Nickel Project in Western Australia. Savannah North eastern zone drilling: The geological morphology of the eastern zone is more complex than both the central and western zone where the Upper Mineralisation Lens is mostly developed as a single continuous lens along the southern wall of the Savannah North intrusion. In the east, towards the end of the level development, the base of the Savannah North intrusion is present, and the Upper Mineralisation Lens abruptly turns northwards tracking around the base of the intrusion as it bottoms-out and plunges away to the north-west. Near where this change in orientation occurs a mineralised splay bifurcates from the Upper Mineralisation Lens, then extends in an easterly direction over 150 to 200m. To facilitate infill resource drilling of these two divergent mineralised zones, Panoramic developed a dedicated drill platform out to the north from the 1381 development level. The drill drive allows both the upper and lower mineralisation lenses to be targeted by providing much improved drill angles than was previously possible from the Savannah 1570 Drill Drive. The first drill hole completed, KUD1875, was designed to test the northerly trending Upper Mineralisation Lens in this area. KUD1875 has been logged with assays pending. A modest mineralised intersection was achieved at the target depth of 64.9m, appearing to confirm the geological model. In addition, KUD1875 intersected an unanticipated 5.7m zone of semi-massive breccia sulphide mineralisation near the start of hole from 3.3m downhole. The significance of the two mineralised intercepts returned by KUD1875 remain to be fully understood and will require additional drilling. The mineralised intercept at 64.9m downhole appears to be situated at the base of the Savannah North intrusion and is possibly the beginnings of a second bifurcated splay similar to the Lower Mineralisation Lens (Figure 3). Whilst the intersection beginning 3.3m downhole in KUD1875 also appears to be situated on or close to the basal contact of the Savannah North intrusion, the contact is further to the north than previously modelled. It therefore may be removed from the Upper Mineralisation Lens and could also be the beginnings of a new lens or third splay-like structure. Additional drilling is required to resolve these interpretations. Upcoming Drilling: The 18-hole program in the eastern zone of Savannah North will continue until April 2022. The remainder of the program is designed to infill the upper and lower mineralisation zones at Savannah North ahead of the commencement of mining in this area in FY23. Follow-up of KUD1875 will be undertaken at the end of the program after the receipt of assay results and further interpretation is conducted. The initial results highlight the potential to extend known mineralization and encounter new zones as drilling density increases from underground positions. Major Estimate Revision • Feb 24
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from AU$118.1m to AU$105.6m. EPS estimate unchanged from AU$0.0075 per share at last update. Metals and Mining industry in Australia expected to see average net income growth of 20% next year. Consensus price target up from AU$0.30 to AU$0.31. Share price fell 5.9% to AU$0.24 over the past week. Annonce • Feb 17
Panoramic Resources Limited Provides an Update on the Second Shipment of Nickel-Copper-Cobalt Concentrate Since the Restart of Operations At the Company's Savannah Nickel Project Panoramic Resources Limited provided an update on the second shipment of nickel-copper-cobalt concentrate since the restart of operations at the Company's Savannah Nickel Project. The MV Maasgracht arrived at Wyndham Port on the evening of 11 February 2022. Stevedoring contractor CGL was responsible for loading the ship, which took four days inclusive of some rain delays. The ship was loaded to cargo capacity with a total of 9,409t nickel-copper-cobalt concentrate and departed on 15 February, sailing to the Port of Lianyungang in China for delivery to offtake partner Jinchuan. Following the second shipment, Port concentrate stocks are at approximately 160t. As per the offtake agreement with Jinchuan, a provisional invoice has been submitted with payment expected in the week commencing 22 February 2022. The payment of US$14.6M (~A$20.5M) is inclusive of all three metals contained in the concentrate. The third shipment has now been booked, with the MV Maasgracht expected to return to Wyndham Port in early April 2022. Annonce • Feb 08
Panoramic Resources Limited Provides an Update on Resource Definition at Savannah North Panoramic Resources Limited provided an update on the most recent Resource definition at Savannah North. A broad spaced drill out has been completed between the 1250 and 1500 RL levels in the central and western margins of the Savannah North Resource. The drilling provides the framework for mine development and stoping in the central and western part of the Savannah North Resource. The program targeted an area of the Savannah North Resource above current underground workings. The area currently hosts a zone of Inferred Resource which is included in the Savannah Mine Plan. A total of 24 drill holes for 6,889 drill metres were completed with 981 samples collected and submitted for assay. Resource definition drilling between the 1250 and 1500 RL levels has now been completed to 25 x 25m spacing. Thick zones of mineralisation were returned which support future mining. Better results include: KUD1750: 30.50m @ 1.58% Ni, 0.53% Cu and 0.11% Co, KUD1764: 15.15m @ 1.30% Ni, 0.20% Cu and 0.09% Co, KUD1760: 10.50m @ 2.02% Ni, 0.46% Cu and 0.14% Co, KUD1764: 12.45m @ 1.00% Ni, 0.28% Cu and 0.07% Co, KUD1746: 11.70m @ 1.56% Ni, 0.71% Cu and 0.12% Co, KUD1757: 8.55m @ 1.50% Ni, 0.25% Cu and 0.10% Co and KUD1747: 8.50m @ 1.80% Ni, 1.03% Cu and 0.14% Co. The Savannah North central drill program has shown consistency throughout the stoping blocks of the 2 mine plan and the addition of further stoping outside the mine plan. Drill holes KUD1751, 1752 & 1755 were drilled in the upper central section of the central block and show that mineralisation is open above the current Resource area. Drill holes KUD1745, 1746 and 1747 to the lower west have delivered strong, thick intercepts and further infill drilling in this area is required. These three drill holes have pleasingly shown a strong increase in mineralisation thickness and the potential for larger stoping to the west is highly increased. Drill hole KUD1764 unexpectedly returned strong mineralisation assay results from an area previously thought to be a barren fault block within the intrusion. The hole returned strong, thick mineralisation through the fault block and also extends the lower mineralisation lens to the west. Follow up grade control drilling will firm up this area and provide stope definition. Resource definition drilling will now shift position and drill out the eastern margin of the Savannah North Resource. The eastern block of the Savannah North Resource has a complicated splay morphology where the mineralisation bifurcates from the intrusion. Drilling from the recently established 1381 drill drive to the east allows both the upper and lower mineralisation lenses to be targeted. This dedicated drilling platform in the 1381 east ore drive will combat poor drilling angles encountered from the previous platform in the 1570 drill drive. Drilling from the 1381 drill drive will be the immediate focus of the upcoming quarter. Upon drill completion of the eastern block of the Savannah North Resource, drilling will return to Savannah. Drilling will at first focus on the Savannah Resource above the 900 Fault (T1) and below the previous mined 1440 level at the bottom of the current underground workings. The drill cuddy for the proposed drilling is already developed and successful Resource definition drilling will open another mining front at Savannah. Development in the area between the 900 fault and the 1440 level will allow for much improved drill angles for the Resource below the 900 Fault. It is then planned to drill the Sub 900 (T2) Savannah resource following mining of the Savannah Resource above the 900 Fault. Major Estimate Revision • Jan 18
Consensus forecasts updated The consensus outlook for 2022 has been updated. Metals and Mining industry in Australia expected to see average net income growth of 40% next year. Consensus price target up from AU$0.27 to AU$0.31. Share price was steady at AU$0.27 over the past week. Price Target Changed • Jan 15
Price target increased to AU$0.29 Up from AU$0.27, the current price target is an average from 2 analysts. New target price is 8.6% above last closing price of AU$0.27. Stock is up 59% over the past year. The company is forecast to post earnings per share of AU$0.01 for next year compared to AU$0.00014 last year. Annonce • Dec 30
Panoramic Resources Limited Announces First Shipment from Savannah Completed Panoramic Resources Limited provided an update on operational activities currently underway to support the first shipment of nickel-copper-cobalt concentrate from the Savannah Nickel Project in December 2021. The MV Merwedegracht arrived at Wyndham Port on the afternoon of 21 December 2021. Stevedoring contractor CGL was responsible for loading the ship, which took just over four days. A total of 10,865t of nickel-copper-cobalt concentrate at the required specifications was loaded to maximise the ship's payload capacity. The ship departed on the afternoon of 26 December sailing to the Port of Lianyungang in China for delivery to offtake partner Jinchuan. Approximately 50t of concentrate was left behind at the Wyndham storage shed and will form part of the second shipment. As per the offtake agreement with Jinchuan, a provisional invoice has been submitted with payment expected in the week commencing 3 January 2022. The payment of USD 14.8M (AUD 20.4M) is inclusive of all three metals contained in the concentrate. The second shipment is planned for February 2022, with the MV Maasgracht expected to arrive at Wyndham Port in mid- February 2022. Annonce • Dec 19
Panoramic Resources Limited Provides an Update on Operational Activities at the Savannah Nickel Project Panoramic Resources Limited provided an update on operational activities currently underway at the Savannah Nickel Project to support the first shipment of nickel-copper-cobalt concentrate in December 2021. The MV Merwedegracht is in transit to Wyndham (via Darwin) with expected arrival at Wyndham Port on the evening of 20 December 2021. Stevedoring contractor CGL will be responsible for loading the ship, which is expected to take up to seven days, at which point the ship will then sail to Port of Lianyungang, Jiangsu Province, China for delivery to the offtake partner Jinchuan. Currently the Wyndham Port shed contains 8,950t of concentrate, with an additional 500t on site at Savannah. CGL is currently trucking concentrate to Wyndham Port from site, on a daily basis. The first Savannah North stope has now been mined with minimal dilution encountered, with reconciliation expected to be completed in the next two weeks. The stope is now being prepared for paste filling which is planned for later this month. The underground mining schedule has been modified to reflect labour accessibility issues stemming from border controls between Western Australia, the Northern Territory, South Australia and, more recently, Queensland. The focus of the site team has been to maintain development rates with lower than planned ore production from stopes. Pleasingly, the impact has been mitigated by the ore stockpile strategy implemented since the restart of underground mining, and the substantial existing surface ore stockpile is being drawn upon, supplemented by fresh ore from underground. Ore stockpiled at surface is currently estimated to be approximately 70,000t. With the expectation of relaxed border restrictions from 5 February 2022, the mining sequence will revert to a more balanced profile between underground development and stope ore production, with a reduction in border controls also expected to assist in ramp up of production. The additional new fleet of underground equipment including trucks, loaders and supplementary infrastructure equipment has begun arriving on site, with supplementary infrastructure being installed prior to the end of December. A grade control drilling program was recently completed at Savannah North targeting the 1401, 1381 and 1361 levels. These holes have been drilled from the footwall drive to facilitate final stope designs for the 1361, 1381 and 1401 production levels. The program involved 67 drill holes for a total of 2,946m drill metres with 1,848 samples collected and submitted for assay. The 1361, 1381 and 1401 grade control drill results confirm the strong and continuous nature of the mineralisation in the upper zone of Savannah North. The results provide strong certainty for mining development and stoping in the planned development levels of the Savanah North mine. Similar grade control programs are planned in the 1341 and 1421 levels. Resource definition drilling is planned ahead of the completion of the hanging wall drive to the east of the 1381 development which will allow drilling on the eastern side of the intrusion where the Savannah North Resource remains open. Drill programs will switch between Grade Control and Resource Definition throughout fiscal 2022. Price Target Changed • Oct 25
Price target increased to AU$0.26 Up from AU$0.23, the current price target is an average from 2 analysts. New target price is 12% above last closing price of AU$0.23. Stock is up 100% over the past year. The company is forecast to post earnings per share of AU$0.01 for next year compared to AU$0.00014 last year. Annonce • Sep 15
Panoramic Resources Limited Provides Update on Operational Activities Currently Underway at the Savannah Nickel Project Panoramic Resources Limited provided an update on operational activities currently underway at the Savannah Nickel Project to support the target of first nickel-copper-cobalt concentrate shipment in December 2021. Underground mining has continued to progress well throughout August with momentum maintained since mining commenced in early July 2021. All activities have been carried out safely by underground mining contractor Barminco, with operating and financial performance achieving planned targets. During July and August, the focus was on maintaining one Jumbo, one long hole rig and four trucks, with a fifth truck expected to arrive in September to complement the current fleet. Pleasingly production from Savannah stopes have progressed to plan with single stope blasts of 30,000t being carried out with no technical difficulties. Dilution to date in the stopes has been minimal and development drive dilution is currently sitting at 10% which is better than budget with several improvement projects underway to further minimise dilution. The grades mined to date are in line with expectations based on preliminary sampling with final grade reconciliation to be available once the processing plant has been commissioned and concentrate produced. A mobilisation crew from processing plant contractor Primero has been on site since the middle of August to carry out familarisation and preparatory work in anticipation of processing commencing in November. All maintenance works carried out on the plant to date are ahead of schedule and within budgeted costs. Primero is well progressed in securing the necessary workforce to commence operations on time. Following a competitive tender process, a three-year concentrate haulage contract has been awarded to Cambridge Gulf Limited ("CGL"). CGL will be responsible for haulage services, including the loading of concentrate into trailers on site, road transport to Wyndham and discharge of concentrate into the Wyndham Shed. In addition to concentrate haulage, CGL has also been awarded a three year fuel supply contact following a competitive tender and continue to be the preferred supplier of stevedoring services at the Port of Wyndham when concentrate shipments resume. CGL is a local contractor based in Kununurra and Wyndham which has previously worked at Savannah and employs a local workforce with no reliance on FIFO workers. The first grade control drill program at Savannah North was undertaken from the 1381 footwall drive to facilitate final stope designs for the 1381 production level which is scheduled to begin stope production in late October. The grade control drill program, which was completed during August, involved 20 drill holes for a total of 912 drill metres with 597 samples collected and submitted for assay. Results from the program have now been received and are summarised in Table 1 (Appendix 1). The position of the grade control holes relative to the 1381 level, existing drill hole pierce points and preliminary life of mine (LOM) stope areas is shown in Figure 1. Appropriate JORC 2012 compliance tables. The 1381 grade control drill results confirm the strong and continuous nature of the Savannah North mineralisation in this area of the mine. Historic Resource Definition drilling angles (from the 1570 stockpile drill drive at Savannah) were not optimal, however the grade control drilling completed from the 1381 footwall drives were drilled from an ideal position and resulted in good drill angles and better intercepts. The results augur well for the future 1341, 1361 and 1401 grade control drill programs that will be implemented once footwall access is completed on these levels in the coming months. Stoping in Savannah North is planned for late October and given the current results from the grade control program, final mine designs of the production stopes for the 1381 level can continue with high confidence. Price Target Changed • Sep 01
Price target increased to AU$0.23 Up from AU$0.21, the current price target is an average from 3 analysts. New target price is 15% above last closing price of AU$0.20. Stock is up 127% over the past year. Price Target Changed • Aug 13
Price target increased to AU$0.21 Up from AU$0.19, the current price target is an average from 3 analysts. New target price is 19% above last closing price of AU$0.18. Stock is up 161% over the past year. Board Change • Jul 31
High number of new directors Independent Non-Executive Chairman & Lead Director Nick Cernotta was the last director to join the board, commencing their role in 2020. Annonce • Jun 17
Great Northern Palladium Pty Ltd acquired remaining 20% stake in Panton PGM Project and associated tenements from Panoramic Resources Limited (ASX:PAN) for AUD 3 million. Great Northern Palladium Pty Ltd acquired remaining 20% stake in Panton PGM Project and associated tenements from Panoramic Resources Limited (ASX:PAN) for AUD 3 million on June 17, 2021. Proceeds from the sale will provide general working capital to support the current restart of the Savannah Nickel Project. CPS Capital Group Pty. Ltd. acted as financial advisor to Great Northern Palladium Pty Ltd and Panoramic will pay 2% of AUD 3 million to CPS.
Great Northern Palladium Pty Ltd completed the acquisition of remaining 20% stake in Panton PGM Project and associated tenements from Panoramic Resources Limited (ASX:PAN) for AUD 3 million on June 17, 2021. Annonce • Apr 06
Panoramic Resources Limited Plans to Restart of Savannah Nickel Operation Panoramic Resources Limited announced that its Board has elected to restart the Savannah Nickel Operation, located in the Kimberley region of Western Australia. The decision follows a rigorous assessment process and is the culmination of 12 months of activities designed to reduce operating and financial risk for the operation as well as improving expected profitability. To support the restart, the company has entered into a new five-year nickel and copper concentrate offtake agreement for the period February 2023 to February 2028 with Trafigura Group Pte Ltd. (Trafigura), aligning with the expiry of the existing offtake agreement with Jinchuan. The Trafigura offtake agreement was concluded following a competitive tender process and reflects terms and payabilities which are in line with, or more favourable than, the existing offtake agreement. Trafigura has also agreed to provide a USD 45 million secured loan financing facility which, combined with revenue projections, is expected to fully cover the costs of the restart. Panoramic has a current cash balance of approximately AUD 27 Million and no debt. Major Estimate Revision • Mar 03
Analysts update estimates The 2021 consensus revenue estimate was lowered from AU$866.7k to AU$33.3k. Earning per share (EPS) estimate was unchanged from the last update at -AU$0.003. The Metals and Mining industry in Australia is expected to see an average net income growth of 64% next year. The consensus price target of AU$0.17 was unchanged from the last update. Share price is down by 13% to AU$0.14 over the past week. Price Target Changed • Feb 24
Price target raised to AU$0.17 Up from AU$0.15, the current price target is an average from 3 analysts. The new target price is 7.5% above the current share price of AU$0.15. As of last close, the stock is down 28% over the past year. Annonce • Dec 19
Dubai 2020 Limited completed the acquisition of a 80% stake in Panton PGM Project and associated tenement from Panoramic Resources Limited (ASX:PAN). Dubai 2020 Limited entered into a binding agreement to acquire a 80% stake in Panton PGM Project and associated tenement from Panoramic Resources Limited (ASX:PAN) for AUD 12 million on October 12, 2020. Dubai 2020 Limited executed a definitive agreement to acquire a 80% stake in Panton PGM Project and associated tenement from Panoramic Resources Limited for AUD 12 million on December 7, 2020. Panoramic will pay 2% of each payment installment (including the Deposit) to Dubai 2020’s financial advisor, CPS. Dubai 2020 has paid a nonrefundable deposit of AUD 2 million (Deposit) and in exchange Panoramic has agreed to allow Dubai 2020 a period of exclusive due diligence until December 5, 2020. Panoramic will retain a 20% free carried interest until any decision to mine. This interest is subject to Dubai 2020 not exercising its right to acquire the remaining 20% of Panton by a further AUD 3 million payment to Panoramic. This right is exercisable by Dubai 2020, within 6 months of completion of Dubai 2020’s acquisition of an 80% interest in Panton; or within 9 months of completion of the acquisition of an 80% interest, in the event any change in control of Panoramic is announced within 6 months of completion of the acquisition of an 80% interest. The transaction is subject to entering into a definitive documentation. If definitive documentation is not executed by both parties on or before December 5, 2020, the Agreement will automatically terminate. The Completion of the Agreement is subject to further due diligence being satisfactory to Dubai 2020 by December 5, 2020. The Deposit (net of fees) and any net sale proceeds will be used to provide additional working capital to progress the future restart of operations at Savannah. As of December 7, 2020 completion is expected to occur on or about December 18, 2020. CPS Capital Group Pty. Ltd. acted as financial advisor to Dubai 2020 Limited.
Dubai 2020 Limited completed the acquisition of a 80% stake in Panton PGM Project and associated tenement from Panoramic Resources Limited (ASX:PAN) on December 18, 2020. Dubai 2020 paid remaining purchse price of AUD 11.8 million on December 18, 2020. Dubai 2020 paid advisory fee of 2% purchase price to CPS Capital. Major Estimate Revision • Nov 03
Analysts update estimates The 2021 consensus revenue estimate increased from AU$33.3k to AU$50.0k. Earning per share (EPS) estimate was unchanged from the last update at -AU$0.0035. The Metals and Mining industry in Australia is expected to see an average net income growth of 43% next year. The consensus price target increased from AU$0.13 to AU$0.13. Share price is down by 8.7% to AU$0.10 over the past week. Annonce • Oct 12
Dubai 2020 Limited entered into a binding agreement to acquire a 80% stake in Panoramic Precious Metals Pty Ltd from Panoramic Resources Limited (ASX:PAN) for AUD 12 million. Dubai 2020 Limited entered into a binding agreement to acquire a 80% stake in Panoramic Precious Metals Pty Ltd from Panoramic Resources Limited (ASX:PAN) for AUD 12 million on October 12, 2020. Panoramic will pay 2% of each payment instalment (including the Deposit) to Dubai 2020’s financial advisor, CPS. Dubai 2020 has paid a nonrefundable deposit of AUD 2 million (Deposit) and in exchange Panoramic has agreed to allow Dubai 2020 a period of exclusive due diligence until December 5, 2020. Panoramic will retain a 20% free carried interest until any decision to mine. This interest is subject to Dubai 2020 not exercising its right to acquire the remaining 20% of Panton by a further AUD 3 million payment to Panoramic. This right is exercisable by Dubai 2020, within 6 months of completion of Dubai 2020’s acquisition of an 80% interest in Panton; or within 9 months of completion of the acquisition of an 80% interest, in the event any change in control of Panoramic is announced within 6 months of completion of the acquisition of an 80% interest. The transaction is subject to entering into a definitive documentation. If definitive documentation is not executed by both parties on or before December 5, 2020, the Agreement will automatically terminate. The Completion of the Agreement is subject to further due diligence being satisfactory to Dubai 2020 by December 5, 2020. The Deposit (net of fees) and any net sale proceeds will be used to provide additional working capital to progress the future restart of operations at Savannah. CPS Capital Group Pty. Ltd. acted as financial advisor to Dubai 2020 Limited. Annonce • Sep 28
Panoramic Resources Limited Announces the Appointment of Grant Dyker as Chief Financial Officer Panoramic Resources Limited advised of the appointment of Mr. Grant Dyker as Chief Financial Officer (CFO). Mr. Dyker is a highly experienced senior executive who has held the CFO role at several ASX-listed resources companies over the past 15 years, including Dacian Gold Limited, Sirius Resources NL, Doray Minerals Limited, Avoca Resources Limited and Aztec Resources Limited. In these roles he has been responsible for leading and managing numerous major project and corporate financing processes through to successful completion. Annonce • Sep 07
Panoramic Resources Limited Auditor Raises 'Going Concern' Doubt Panoramic Resources Limited filed its Annual on Aug 31, 2020 for the period ending Jun 30, 2020. In this report its auditor, Ernst & Young LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern. Annonce • Jun 22
Panoramic Resources Limited(ASX:PAN) dropped from S&P/ASX All Ordinaries Index Panoramic Resources Limited(ASX:PAN) dropped from S&P/ASX All Ordinaries Index Annonce • Jun 16
Panoramic Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 90.144775 million. Panoramic Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 90.144775 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,287,782,496
Price\Range: AUD 0.07
Discount Per Security: AUD 0.00308
Transaction Features: Regulation S; Rights Offering; Subsequent Direct Listing