Panoramic Resources Limited (ASX code: PAN) is a Western Australian mining company formed in 2001 for the purpose of developing the Savannah Nickel Project in the East Kimberley. Panoramic successfully commissioned the $65 million Savannah Project in late 2004 and then in 2005 purchased and restarted the Lanfranchi Nickel Project, near Kambalda. In FY2014, the Company produced a record 22,256t contained nickel and produced 19,301t contained nickel in FY2015 and between 2004-2016, the Company produced over 180,000 tonnes of nickel, 60,500 tonnes copper and 4,900 tonnes cobalt sulphide from its Savannah Nickel Project and Lanfranchi Nickel Project (prior to Lanfranchi being sold to Black Mountain Metals LLC) in Western Australia.
The Savannah project re-commenced mining in December 2018 after being placed on care and maintenance in May 2016 due to low commodity prices, with the first shipment of Savannah concentrate shipped on 13 February 2019.
Panoramic’s other projects include the groups two platinum group metals projects; Panton Project, located 60km south of the Savannah Project and the Thunder Bay North Project in Northern Ontario, Canada, in which Rio Tinto is earning 70% by spending up to C$20 million over five years.
Panoramic also has a 51% majority shareholding in ASX listed Horizon Gold Limited (ASX Code: HRN). The Company’s exposure to gold, consists of an indirect investment (via its shareholding in HRN) in the Gum Creek Gold Project located near Wiluna, Western Australia.
Panoramic has been a consistent dividend payer and has paid out a total of $114.3 million in fully franked dividends between 2008 and 2016.
The Company’s vision is to broaden its exploration and production base, with the aim of becoming a major, diversified mining company in the S&P/ASX 100 Index. The growth path will include developing existing resources, discovering new ore bodies, acquiring additional projects and is being led by an experienced exploration-to-production team with a proven track record.
Well Positioned and Committed to Growth
The 10 Year Plan
- Adhere to our safety culture so every employee believes that safety is our most important value in line with our safety mantra; Vision, Commitment, Results
- Optimise our metal production to maximise our margins
- Grow our existing resources and reserve base to extend the mine life of our operations
- Maintain a steady dividend stream and ultimately become an S&P/ASX 100 Company
We strive to achieve excellence in all aspects of our business to provide long term capital growth and dividend return to our shareholders, a safe and rewarding work environment for our employees, and opportunities and benefits to the people in the communities we operate in.