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Panoramic Resources Ltd.
Summary
| Project: | Savannah | |
|---|---|---|
| Deposit: | Savannah | |
| Location: | Australia | |
| Commodities: | Nickel-Copper-Cobalt | |
| Date: | 2/2/2017 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Mine in Care & Maintenance | |
| Report details: | 2-2-2017: Panoramic Resources Ltd. announces a Feasibility Study report for its Savannah deposit at the Savannah project. Feasibility study results incl. pre-tax NPV (8%) of $190M, IRR of 115%. Panoramic Resources Limited (“Panoramic”, ASX Code: PAN) is p | |
| Resources: | (Reserve, P+P): 8.208Mt @ 1.37% Ni, 0.64% Cu, 0.09% Co at Savannah | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | Panoramic Resources Limited (“Panoramic”, ASX Code: PAN) is pleased to provide the results of the Savannah Feasibility Study (“Savannah FS”). The Savannah FS demonstrates that mining of Savannah North significantly extends the mine life at the Savannah Operation with globally competitive cash costs and minimal pre-production capital requirements. The Savannah FS is based on mining the remaining Ore Reserve at Savannah, whilst developing across to the Savannah North deposit. Access to Savannah North will be via decline from the existing Savannah decline at the 1440 Level to the Savannah North 1380-1360 level. Access development from Savannah to first ore at Savannah North is scheduled to take approximately nine months, with full production from Savannah North reached 15 months after commencement of development. Mining of Savannah North is proposed to be via conventional long-hole open stoping with paste fill, at mining rates between 0.7–0.9 Mtpa ore (average 0.8Mtpa over life of mine). At the scheduled rates, production can be maintained for 10 years based on the proposed mine plan. Processing is through the existing Savannah plant to produce a bulk Ni-Cu-Co concentrate targeting a concentrate grade of 8% Ni. Processing recoveries over life of mine are expected to average 87% Ni, 96% Cu and 90% Co, based on historic Savannah plant performance. Metal in concentrate production is forecast to average 9,700t Ni, 5,000t Cu and 670t Co per year with 99,200t Ni, 51,500t Cu and 6,900t Co in concentrate produced over life of mine. The Savannah FS forecasts a low up-front capital investment of only $20 million to resume production. The low restart cost is due to the mine development already in place to access existing Savannah ore and the existing mobile equipment fleet, processing plant and supporting infrastructure at Savannah being kept in good condition under care and maintenance since the suspension of mining operations in May 2016. | |
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