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Panoramic Resources Ltd.
Summary
| Project: | Savannah | |
|---|---|---|
| Deposit: | Savannah | |
| Location: | Australia | |
| Commodities: | Nickel-Copper-Cobalt | |
| Date: | 7/20/2017 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Mine in Care & Maintenance | |
| Report details: | 20-7-2017: Panoramic Resources Ltd. announces a Feasibility Study report for its Savannah deposit at the Savannah project. FS optimisation results incl. pre-tax NPV (8%) of $190M, IRR of 115%, LOM of 8.5 years. Panoramic’s Managing Director, Peter Harold | |
| Resources: | (Reserve, P+P): 8.25Mt @ 1.38% Ni, 0.65% Cu, 0.09% Co at Savannah | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | Panoramic’s Managing Director, Peter Harold said “The release of the Savannah FS Optimisation demonstrates the potential for Savannah to be a financially robust project, even at today’s historically low nickel prices. The optimisation work focussed on higher production rates, higher grade ore and lower input costs. This has resulted in an improved mine plan compared to the February 2017 Feasibility Study, and has delivered significantly lower C1 cash costs and all-in sustaining costs. The optimisation work is a credit to the dedicated team at Panoramic. The short lead time and minimal capital investment required to resume operations places Panoramic in an enviable position compared with greenfield project developers, who typically have much greater funding requirements and longer pre-production development timeframes. Savannah’s significant cobalt Resource is an important contributor to project value, with production forecast to average 760t per year. A range of investment banks consider that the strong appreciation in the US$ cobalt price during 2017 is the beginning of a long-term trend, supported by expected growing demand from the battery market, coupled with geopolitical risks associated with a large portion of existing cobalt supply. As a potential near-term cobalt producer, Panoramic is well placed to capitalise on the buoyant cobalt price outlook.” | |
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