PERTH (miningweekly.com) – ASX-listed Panoramic Resources has completed the A$15.1-million sale of the Lanfranchi nickel project, in Western Australia, to privately held Black Mountain Metals.
The two companies in September struck an agreement for the divestment of the Lanfranchi asset, which was placed under care and maintenance in 2015, with the mine producing a total of 3.85-million tonnes of ore averaging grades of 2.45% nickel for 94 196 t of nickel.
Panoramic on Thursday told shareholders that all conditions precedent to the sale have now been satisfied or waived, with Black Mountain paying the outstanding A$11.99-million.
Black Mountain has previously revealed plans to undertake an exploration programme at Lanfranchi.