Panoramic increases production forecast

24th July 2013 By: Esmarie Iannucci - Creamer Media Senior Deputy Editor: Australasia

PERTH ( – Nickel miner Panoramic Resources has increased its production forecast for 2014 after setting a new quarterly production record and exceeding its 2013 production expectations.

Panoramic reported that nickel in concentrate production during the quarter reached 5 619 t, a 19% increase on the previous quarter’s production. Group production for the full year was 19 561 t of nickel in concentrate, which was above the guidance of between 18 500 t and 19 000 t.

The yearly production was also the second-best yearly production result since production started in 2005.

The miner noted that production at the Savannah project was above budget during the quarter, with the project producing 180 192 t of ore and the mill treating 178 000 t of ore. Contained nickel in concentrate from the Savannah project reached 2 366 t for the three months to June, up 24% on the previous quarter.

At the Lanfranchi project, production for the quarter under review was up by 16% to 3 253 t of contained nickel, with the operation setting a new quarterly production record.

Panoramic told shareholders that with the recent production increases, the miner had now upped its 2014 production forecast from between 19 000 t and 20 000 t, to between 20 000 t and 21 000 t.