BROKER RESEARCH NOTE
Morgans "Leaving 2020 in the rear view mirror"

Panoramic Resources Limited is pleased to provide you with the latest broker research note from Morgans entitled "Leaving 2020 in the rear view mirror".
 

• Following PAN’s “annus horribilis” in FY20, the company is meeting or exceeding underground development targets in FY21 to date.
• We see the updated life of mine plan as a conservative document with room for management to deliver significant upside.
• PAN, and the nickel sulphide market generally, is a battery metals story as nickel supply fragments with separate stainless steel and battery demand.
• We see the sector as ripe for consolidation and PAN as an attractive target.
• Western Areas remain an active participant in Savannah development studies thanks to their shareholding and 50% representation on the technical committee.