Fosters Stockbroking Initiating Research Coverage
"Getting Ready for Restart"
Panoramic Resources Limited is pleased to provide you with the latest broker research initiated by Fosters Stockbroking.
Recommendation:
- We initiate coverage of PAN with a Buy recommendation and price target of $0.14/share, due to its long life, high grade nickel sulphide asset, existing infrastructure, and exploration potential. Recent recap has removed debt as well as hedging arrangements, and a significant positive for the company. Stock trades at significant discount in our view, which has potential to reverse on successful achievement of technical milestones.
- Catalysts for the stock include:
- underground development progress, especially critical development milestones including vent raise;
- operational restart in mid Q2 CY21e;
- updates on exploration.
For a full copy of the 13 PAGE report, please contact:
Matthew Chen
Equity Research
Fosters Stockbroking
D: +61 2 9993 8130
E: matthew.chen@fostock.com.au
Sydney: Level 25, 52 Martin Place SYDNEY NSW 2000
Perth: Level 9, 66 St Georges Terrace PERTH WA 6000
www.fostock.com.au
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