Hostility surrounding takeover offers by Minemakers and Panoramic Resources has escalated, with the merit of independent expert reports and company valuations being challenged in both cases.
Panoramic Resources shares inched upwards after the nickel miner announced a significant resource upgrade and high-grade drilling results from its Lanfranchi nickel project near Kambalda.
Panoramic Resources has flagged an interim profit of $18 million, down from $23.1 million in the previous corresponding period on the back of reduced nickel production.
A RECENT decision by the State Administrative Tribunal will allow nickel miner Panoramic Resources to construct a workers' accommodation camp at one of its mines sites despite objections from the Shire of Coolgardie.
Panoramic Resources has recorded a profit turnaround to $23.1 million on the back of improving nickel prices and the inclusion of all nickel production from the Lanfranchi mine in Western Australia.
Nickel miner Panoramic Resources is forecasting to be back in the black, today lifting its interim profit guidance to $20 million compared to the $8.6 million net loss it booked the previous year.
Panoramic Resources has secured a 10-year extension to its offtake agreement with Jinchuan Group and Sino Nickel for all of the nickel produced at the Savannah operation in the east Kimberley.
Nickel miner Panoramic Resources has confirmed it is running the ruler over Barrick Gold's Osborne copper-gold mine in Queensland as part of its acquisition plans.
Panoramic Resources has followed through with plans to expand out of nickel by signing a joint venture deal with Thundelarra Exploration, the second agreement in as many days.
Nickel miner Panoramic Resources is on the hunt for "company transforming" acquisition opportunities after it bought out the remaining interest in the Lanfranchi project it did not own.
Miner Panoramic Resources has moved a step closer to full ownership of the Lanfranchi nickel project after shareholders of a joint venture company approved the sale.
Nickel miner Panoramic will consolidate its ownership of the Lanfranchi project by issuing $9.72 million worth of shares to joint venture partner, Canadian-based Brilliant Mining Corp.
Write-downs totaling $17.6 million and a sharp fall in the nickel price has resulted in Panoramic Resources reporting an $8.6 million loss for the half-year.
Panoramic Resources Ltd has struck a deal with BHP Billiton Nickel West to supply more nickel ore for processing from its Lanfranchi project in Western Australia in the 2009 financial year.
Panoramic Resources Ltd has followed the trend of its fellow nickel miners, today posting a 40 per cent fall in full year net profit to $53.3 million on the back of lower commodity prices and higher operating costs.
Shareholders in Perth-based nickel producer Sally Malay Mining Ltd have voted to change the company's name to Panoramic Resources Ltd at a general meeting today.
