Panoramic Resources Limited has released its preliminary September quarter 2023 production results for the Savannah Nickel Project located in Western Australia.
Despite facing setbacks with the malfunction of a filter press head unit in the June quarter 2023, the company witnessed improvements across all sectors for the recent quarter. Highlights from the report include:
- A 19% improvement in Total Recordable Injury Frequency Rate, now standing at 5.1.
- A decline in Jumbo development by 10% to 829m, although underground development remains ahead of schedule.
- A 5% increase in ore mined, reaching 185,213t – marking the best quarter since its 2021 restart.
- Ore milled rose by 25% to 184,009t, another record performance since 2021.
- Nickel recovery remained consistent at 78.4%.
- Concentrate production saw a surge of 56% to 23,411dmt.
- Contained nickel production also increased by 56% to 1,684t.
- Production of contained copper went up by 42% to 932t.
- Production of contained cobalt shot up by 76% to 135t.
- The company held a cash balance of $42.6M at the end of the quarter, after accounting for $4.96M in debt and interest payments.
It’s noteworthy that these figures were achieved even with the plant being non-operational for 14 days due to the earlier mentioned equipment failure, in addition to a planned shutdown for four days in September. The defective filter press has since been fixed and restarted after the installation of a new unit.
