Quarterly Report to 31 December 2018
Our latest ASX announcement, Quarterly Report to 31 March 2018, is now available for viewing.
GROUP
- Safety – no lost time injuries
- Cash – $19.2 million in available and restricted cash, plus $16.5 million available to be drawn down against the $40 million Macquarie Facility.
NICKEL
Savannah
- Mining – mine production commenced from the Savannah orebody
- Process Plant – refurbishment completed at the end of November, first ore through the mill mid-December
- Tailings Storage Facility– 3m lift of the existing facility wall completed
- Savannah North ventilation rise – pilot hole completed mid-January 2019, reaming underway
- Recruitment – recruiting and on-boarding of site personnel ongoing
- Revenue – first concentrate shipment scheduled for 5-10 February 2019
- Exploration – additional assaying of samples from Frog Hollow returned anomalous vanadium results
Lanfranchi
- Project sale successfully completed for a total cash consideration of $15.1 million ($13.5 million received to date)
GOLD
- Gum Creek (51% indirect)
- Exploration and evaluation studies ongoing
- Project and corporate management being provided by Panoramic staff on a cost recovery basis
PGM
Panton
- Metallurgical studies on the viability of producing a PGM concentrate and a chromite by-product stream ongoing Thunder Bay North
- Discussions on future plans for the Project ongoing
CORPORATE
- Perth based commercial, shipping and treasury systems and procedures have been re-established
- Hedge Book $20 million in the money as at 31 December 2018
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