Independence Group is planning to take advantage of nickel miner Panoramic Resources' operational issues and boardroom changes by launching a hostile scrip takeover bid.
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Nickel miner Panoramic Resources will have to tap the market for $20 million in equity after its debt was halved by Macquarie Bank, while today also disclosing deferred payment for the sale of its Canadian project.
Nickel producer Panoramic Resources has announced the forthcoming retirement of its managing director Peter Harold after more than 18 years of service.
Nickel miner Panoramic Resources has entered into a binding agreement to sell its Thunder Bay North platinum group metals project in Canada for $C9 million ($9.8 million).
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Panoramic Resources has announced its intention to raise $22.4 million via two share placements and an entitlement offer, while juniors Black Rock Mining and Kibaran Resources are also involved in capital raisings.
Panoramic Resources will undertake a $19 million capital raising in return for favourable loan repayments to project financier Macquarie Bank, after production issues plagued its Savannah nickel-copper-cobalt project.
ANNIVERSARY SPECIAL: WA's mining industry has undergone a dramatic transformation over the past quarter of a century, with iron ore replacing gold as the state's most valuable commodity.
Gold-aspirant Capricorn Metals has announced a board restructure, which includes the retirement of managing director Heath Hellewell and founding director Peter Langworthy.
Pacific Energy has won a power supply contract with Panoramic Resources for the restart of the nickel producer's mothballed Savannah project in the east Kimberley.
Nickel producer Western Areas has given the green light to develop its Odysseus project following completion of a definitive feasibility study, which detailed a capital cost of $299 million.
Panoramic Resources has agreed to sell the Lanfranchi nickel project for $15 million to Texas-based Black Mountain Metals, showing the American business is still on the hunt for nickel opportunities in Western Australia.
Nickel miner Western Areas has begun early works at its Odysseus project, signing on local contractor MACA, while also announcing it had reached its production guidance for the year to June.
Panoramic Resources has announced it will reopen its mothballed Savannah nickel project in the east Kimberley, after securing a $40 million loan facility with Macquarie Bank.
Local contractor MACA has secured nearly $40 million of work, including contracts for Panoramic Resources and Sandfire Resources in Western Australia worth up to $12 million.
Local tech company Parkd has appointed Robert Freedman to its board, while former KPMG partner Andrea Hall has joined Automotive Holdings Group as a non-executive director and Panoramic Resources has announced the appointment of Nick Cernotta to its board.
Four Perth-based miners have tapped investors for more than $30 million, with Panoramic Resources raising $20.9 million for its Savannah nickel project in the Kimberley.
The last 10 days of 2016 were a busy period for WA corporate deals, with the Rae family attracting a bumper price for its Gull New Zealand business, Chinese group MMG selling the Golden Grove mine, Diploma Group going into receivership and seven new listings on the ASX.
Panoramic Resources has finalised plans to spin-out its Gum Creek gold project through the partial divestment and ASX listing of its Horizon Gold subsidiary, with a $15 million initial public offering launched today.
It might be wishful thinking, but there are encouraging signs pointing to an end to the crisis that has humbled Western Australia's nickel mining industry.
Panoramic Resources has today confirmed plans for a spin-out of its Gum Creek gold project into a new ASX-listed company, while Metals X is considering the possible sale of its Rover gold project.
Nickel miner Panoramic Resources has made a further 70 job cuts at its Savannah mine in the Kimberley, with the remaining workforce at the site to be made redundant in the coming months.
Local explorer Capricorn Metals has raised $12.6 million from investors to fund development work on its recently acquired Karlawinda gold project near Newman.
Western Areas and Panoramic Resources have announced plans to raise a combined $80.7 million from investors to continue work at their respective nickel operations in Western Australia.
Perth-based Panoramic Resources has released an updated scoping study on its renamed Gum Creek gold project in the Murchison region, which details plans for a smaller operation with a lower capex.
Mincor Resources has reported a half-year net loss of $34.7 million while fellow nickel miner Panoramic Resources has cut its directors' fees and board size to further slash costs.
Panoramic Resources and Mincor Resources have announced plans to put their last operating mines on care and maintenance in response to the depressed nickel market, with Panoramic cutting 50 jobs today with more to follow at both companies.
Stockbroker Andrew Frazer is planning to keep together his 12-strong team in Perth and Sydney, after current backer GMP Securities announced a major restructuring of its international operations.
Talisman Mining, Evolution Mining and Kalgoorlie Consolidated Gold Mines are among a number of miners to win state government exploration grants, with gold, nickel and copper the most popular commodities targeted.
The recently appointed boss of BHP Billiton's Nickel West division has presented a rare positive message for the unloved business, saying there was “nervous excitement” after a series of internal changes.
