Registered Members Login:
   
Forgotten Your Details? Click Here To Recover +
Welcome To The ShareCafe Community - Talk Shares And Take Stock With Smart Investors - New Here? Click To Register >

21 Pages (Click to Jump) V   1 2 3 4 > »    
 
  
Reply to this topic

PAN, PANORAMIC RESOURCES LIMITED
blacksheep
post Posted: Mar 7 2019, 10:22 AM
  Quote Post


Posts: 5,629
Thanks: 2110


In Reply To: blacksheep's post @ Mar 6 2019, 10:59 AM

Having a few issues with Savannah ramp-up - won't go down well with investors when PAN resumes trading tomorrow on top of CR underway @ 38c. Last traded price 46c
Panoramic forced to raise cash on troubled Savannah ramp-up
Stuart McKinnonThe West Australian
QUOTE
Panoramic Resources has been forced to tap shareholders for an extra $19 million after running into a host of problems with the restart of its Savannah nickel mine in the East Kimberley.

Project financier Macquarie Bank has demanded Panoramic raise the extra cash, take out additional hedging and enforced minimum liquidity requirements on the company in exchange for adjusting the repayment schedule on a $40 million loan from March 31, 2020, to June 30, 2020.

The loan has also been split into a $30 million senior tranche and a $10 million mezzanine facility that attracts a higher interest rate and is to be paid as the last tranche.
The Peter Harold-led company revealed today it had missed production targets in January and was 40 per cent below output expectations last month because of a variety of production issues.

The company also cited delays in recruiting workers for Savannah, issues accessing mobile equipment and recent storm damage which had diverted resources away from operations to repair of infrastructure and services.

read more - https://thewest.com.au/business/mining/pano...-ng-b881126948z

Those who sold prior to TH were indeed blessed
Attached thumbnail(s)
Attached Image



 




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Mar 6 2019, 10:59 AM
  Quote Post


Posts: 5,629
Thanks: 2110


In Reply To: blacksheep's post @ Jan 19 2019, 01:43 PM

Rattling the tin - in TH cap raise. According to AFR raising $20 mil @ 38c



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jan 19 2019, 01:43 PM
  Quote Post


Posts: 5,629
Thanks: 2110


In Reply To: blacksheep's post @ Jul 16 2018, 08:23 PM

QUOTE
SAVANNAH RECOMMISSIONING UPDATE
1st concentrate shipment scheduled for early February 2019
Highlights
• Mining - ramp up to full production continues
• Processing - process plant achieved plus 2,000tpd throughput in early January
• Wyndham - trucking of concentrate to the port has commenced
• Tailings - 3m wall lift on storage facility completed
• Ventilation - pilot hole for the 900m raise-bore completed
• Recruiting - onboarding of site personnel well advanced in a challenging market
• Project Financing - $40 million project loan drawn down to $28.5 million
• Revenue - first ship scheduled for early February 2019


Gets a mention here - https://roskill.com/news/nickel-savannah-co...early-february/
QUOTE
Roskill View
The Savannah mine was put under care and maintenance in 2016 (when the LME nickel price hit its recent low), but a recovery in nickel prices in the first half of 2018 resulted in Panoramic Resources deciding to re-start operations. Over the course of the project’s mine life, production is expected to average 10,800tpy of nickel, as well as 6,100tpy copper and 800tpy cobalt metal. The company has a concentrate offtake agreement with Sino Nickel (owned 60% by Jinchuan and 40% by Sino Mining International, an investment and trading company controlled by China Minmetals). The rise in nickel price in the first half of 2018 has encouraged miners to assess the viability of re-starting mothballed nickel operations, especially given the expected jump in demand for nickel by the automotive battery sector.


According to Simon Moores
QUOTE
Simon MooresVerified account@sdmoores
Jan 17
More Simon Moores Retweeted John Foulkes
The auto sector is more concerned about nickel than before. Lithium, cobalt are well understood. Nickel has not undergone its exploration boom like the others therefore majors haven’t been shocked into action - expansions of battery grade sulphate, search for new deposits etc #EV

Attached thumbnail(s)
Attached Image


 




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
bg99
post Posted: Oct 12 2018, 09:57 AM
  Quote Post


Posts: 128
Thanks: 28


In Reply To: blacksheep's post @ Oct 11 2018, 09:55 PM

Shame PAN didnt own the gold rights (Goldfields) and are about to sell Lanfranchi to Black Moumtain Metals.
Goldfields are definetely closest by, I hold some MCR and didnt know about IGO
Have searched this quite a bit and couldn't come up with any others

 
blacksheep
post Posted: Oct 11 2018, 09:55 PM
  Quote Post


Posts: 5,629
Thanks: 2110


Might be worth looking at other operators in the vicinity? Some mentioned below

RNC Minerals recovers giant gold slab from its mine in Australia
Cecilia Jamasmie | a day ago |
Mincor and Gold Fields aren’t
QUOTE
Canada’s RNC Minerals (TSX: RNX), the company that last month unearthed more than 9,000 ounces of high-grade gold from a single blast at its Australian Beta Hunt mine, has recovered the first specimen.

http://www.mining.com/rnc-minerals-recover...mine-australia/


Other companies in the area
QUOTE
Mincor and Gold Fields aren’t the only companies with assets in the region, with Independence Group’s (ASX: IGO) Long operation placed on care and maintenance during the June quarter after final ore reserves were mined.

Long has been mined since the 1970s, with Western Mining Corporation operating the asset until 1999. Independence Group secured the mine in 2002 and extracted around 137,000t of nickel during its 16 years of ownership.

Although on care and maintenance, Independence Group has committed funding to exploration in the area, which could breathe new life into the asset.

Meanwhile, Panoramic Resources (ASX: PAN) owns the nearby Lanfranchi nickel mine that has been on care and maintenance since 2015.

Panoramic managing director Peter Harold told Small Caps RNC’s gold haul was a “fantastic discovery”.

“I hope RNC finds a lot more and it sparks renewed gold exploration activity around Kambalda – it would be good for the town.”

Similar to Mr Muccilli, Mr Harold said it was not uncommon to find gold in Kambalda. He added that gold has been identified at Lanfranchi in the past, but the rights belonged to Gold Fields.

“It will certainly lead to more interest in Kambalda,” Mr Harold noted.

Traditionally, the region has been primarily exploited for nickel. It remains to be seen if other nickel plays will begin actively exploring for that “spectacular” “once in a lifetime” bonanza gold find that could see them pulling out $16 million-worth of gold out of the ground in just four days like RNC at Beta Hunt.

https://smallcaps.com.au/rnc-minerals-spect...light-kambalda/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
bg99
post Posted: Jul 17 2018, 09:27 PM
  Quote Post


Posts: 128
Thanks: 28


In Reply To: blacksheep's post @ Jul 17 2018, 01:03 PM

those initial hedging prices are fine, can make a profit with those....lets hope actual prices start rebounding once all this tariff hoohaa dies down

 


blacksheep
post Posted: Jul 17 2018, 01:03 PM
  Quote Post


Posts: 5,629
Thanks: 2110


In Reply To: blacksheep's post @ Jul 16 2018, 08:23 PM

Market response positive - SP up 10.91% currently @ 61c
Attached thumbnail(s)
Attached Image


 




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jul 16 2018, 08:23 PM
  Quote Post


Posts: 5,629
Thanks: 2110


Savannah Project to restart after $40M loan facility executed with Macquarie Bank - https://www.asx.com.au/asxpdf/20180716/pdf/...kb1sh5kv2mb.pdf

QUOTE
Savannah Project Restart
The Company is delighted to announce that the Board has made the formal decision to restart operations at the Savannah
Project. As a result of this decision, the Company has commenced Phase Two of pre-production activities and is targeting to export
the first shipment of Savannah nickel concentrate to China early in the March quarter of 2019.
Once commissioned, the Savannah Project will ramp up to full production over 15 months to a forecast Life-of-Mine (LOM)
average annual production rate of 10,800t Ni, 6,100t Cu and 800t Co metal contained in concentrate (refer to the Company’s
ASX announcement of 27 October 2017 for further details on the production targets).

Project Loan
Savannah Nickel Mines Pty Ltd as Borrower and Panoramic as Guarantor, have agreed the terms of a secured project loan for the
development, working capital and associated costs of the Project. The terms of the project loan are as follows:
• Principal – up to A$40 million;
• Margin – very competitive for a financing of this style;
• Availability – upon execution of full documentation and satisfaction of limited conditions precedent;
• Repayment Schedule – quarterly repayments commencing 31 March 2020;
• Final Repayment – 31 December 2021;
• Loan Covenants and project ratios– customary for this size of facility; and
• Loan Security – the Savannah Project.

Hedging Facilities

The nickel and copper hedging facility consist of mandatory and discretionary hedging. The mandatory initial hedge program has
been completed, being 7,000t Ni for delivery between February 2019 and June 2021 at an average achieved forward price of A$8.51
per pound and 3,000t Cu for delivery between February 2019 and June 2021 at an average achieved forward price of A$3.71 per
pound.

Attached thumbnail(s)
Attached Image


 




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jun 29 2018, 02:08 PM
  Quote Post


Posts: 5,629
Thanks: 2110


In Reply To: bg99's post @ Jun 29 2018, 01:42 PM

Not sure, but I don't think so - it may be subject to a "commercial in confidence" clause



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
bg99
post Posted: Jun 29 2018, 01:42 PM
  Quote Post


Posts: 128
Thanks: 28


In Reply To: blacksheep's post @ Apr 19 2018, 11:23 PM

New offtake agreement for Savannah when it re-opens

https://newswire.iguana2.com/af5f4d73c1a54a...nt_for_Savannah

includes the following

The general terms and conditions of the new Agreement are as follows:
• Product – sulphide concentrate with a typical specification of 8% Ni, 4.5% Cu, 0.6% Co, 46% Fe, <1.0% MgO;
• Quantity (in-bulk) – 100% of production from the Savannah Project;
• Load Port – Wyndham, Western Australia;
• Payable metals – Ni, Cu and Co;
• Price basis – agreed % of LME cash price for Ni and Cu and agreed % of Metal Bulletin Co price; and
• Life of new contract - 4 years commencing from the date of the first shipment or 31 March 2019, whichever occurs first.

Don't they have to disclose what the agreed % of prices are ?

 
 


21 Pages (Click to Jump) V   1 2 3 4 > » 

Back To Top Of Page
Reply to this topic


You agree through the use of ShareCafe, that you understand and accept the TERMS OF USE.


TERMS OF USE  -  CONTACT ADMIN  -  ADVERTISING