Panoramic Resources Reports September Quarter Production Figures
October 6, 2023
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.
