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Panoramic boosts production in March quarter

17th April 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Nickel miner Panoramic Resources has reported that its production during the three months to March is back on budget, with production up 8% on the previous quarter.

Panoramic this week reported that nickel production for the March quarter had reached 4 706 t, compared with the 4 367 t produced in the three months ending December. The December quarter production had been affected by the Savannah operations delivering 25% below budget, owing to production interruptions.

However, Panoramic noted that with production now back on track, full-year guidance had been narrowed from the previous estimate of between 18 000 t and 19 000 t, to between 18 500 t and 19 000 t of nickel in concentrate.

Meanwhile, Panoramic also reported that aggregate site costs were down by A$2.5-million during the quarter, reflecting the work undertaken to reduce wages and overheads, along with the assistance from suppliers to pass on cost savings.

Panoramic said that as a result of the solid production at both its nickel operations, and the reduction in aggregate cost, the company’s nickel division reported an average payable cash cost of A$6.20/lb, down 13% from the December quarter.

Edited by Creamer Media Reporter

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