Panoramic Resources Nickel Production Remains Weak for September 2019 Quarter

1 min read | October 11, 2019 01:46 PM AEDT | By Team Kalkine Media

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Panoramic Resources Limited (ASX: PAN) presented the preliminary report for September 2019 quarter. The company milled 120,771 tonnes of 1.31 per cent graded nickel, 0.76 per cent graded copper and 0.06 per cent graded cobalt.

The quantity of ore milled witnessed a 14 per cent downfall against the previous quarter; however, nickel grade witnessed a 3 per cent increase.
PAN produced 1,342 of nickel, down by 12 per cent from the previous quarter, 855 tonnes of copper, up by 5 per cent, and 64 tonnes of cobalt in concentre.
The company shipped 15,734 dry metric tonnes of concentrate, which marked a 27 per cent fall from the previous quarter.
Despite lower shipment, higher nickel prices provided support, and the share rose 1.667 per cent to trade at $0.305 (as on 11 October 2019 01:31 PM).
Average nickel price remained USD 7.04/lb or $10.29/lb during the quarter, up by 27 per cent from the previous quarter.

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