Panoramic Resources - Thunder Bay North
History
Milestones
2014
• 1 Million tonnes of concentrate shipped from Savannah to Jinchuan
• Record production of 22,256t contained nickel in FY2014
• Major new mineralised zone discovery "Savannah North"
2013
• $15 million placement and SPP to raise up to $25.1 million at 0.27 cents
• Group production of 19,561 tonnes in concentrate/ore
• Maiden Resource at Jury-Metcalfe of ~6,400t Ni. Deposit remains open up and down-plunge
• Gidgee Resource increased to 1.3Moz Au
• Mt Henry Resource increased to 1.2Moz Au (70% equity interest)
• Updated Gidgee Scoping Study
2012
• Record Group production of 19,791 tonnes contained nickel
• Gidgee Resource increased to 1.16Moz Au
• Acquistion of the Wilsons Orebody containing a resource of 325,000oz Au
• Mt Henry Acquisition ~1.0Moz Au (70% equity interest)
• Gidgee Scoping Study
• Panton PGM Project Acquisition ~1.0Moz Pt and ~1.1Moz Pd in Resource
• Thunder Bay North PGM Project acquisition ~10.4Mt Pt+Pd via the successful off-market takeover of Magma Metals Limited (MMW)
• ~78% interest in Copernicus Project, a satellite open pit orebody
• Completion of the new concentrate storage shed in Wyndham
2011
• Acquisition of the Gidgee Gold Project
• Lanfranchi accommodation village opened
• 26% increase of the Cruickshank Resource to 33,560 tonnes contained nickel
• New nickel mineralisation discovered down plunge of Deacon
• Three new JV’s in Norway with Drake Resources
• Production of 17,027 tonnes contained nickel
2010
• Production of 17,458 tonnes contained nickel (equity basis)
• Offtake agreement extended with Jinchuan for 100% of Savannah output for another 10 years
• Maiden Savannah Project Lower Zone Reserve of 43,200 tonnes contained nickel
• Net profit after tax of $56.2 million, our second highest on record
• Cash flow of $131.8 million from operations before tax
• Total dividend payout of 16.5 cents per share, fully franked
• Effective hedging program delivers revenue contribution of $34.1 million
• Strong cash position and receivables of $158.3 million
• New joint ventures signed to explore for base metals in Scandinavia and gold in Alaska
2009
• Record nickel production of 18,752 tonnes contained nickel
• Secured 100% ownership of the Lanfranchi Project
• Gross profit of $31.7 million (before tax & impairment)
• Net profit after tax and impairment of $5.6 million
• Cash flow of $54.8 million from operations before tax
• Net assets of $286.3 million; a 24% year-on-year increase
• Total dividend payout of 3 cents per share (fully franked)
• Hedge book $43.7 million in the money
• Strong cash position and receivables of $95.9 million
2008
• Record production of 14,883 tonnes contained nickel
• Net profit after tax of $53.3 million
• Deacon Resource increased to 2.2 million tonnes at 2.83% nickel for 63,500 tonnes contained nickel
• Total dividend payout of 12 cents per share (fully franked)
• Savannah Resource upgrade of 44% to 70,300 tonnes contained nickel
• Shareholders vote to change name to Panoramic Resources Limited
• Commencement of Copernicus Project mine development
2007
• Record net profit after tax of $88.1 million
• Maiden fully franked dividend of 12 cents per share
• Initial Deacon Reserve of 1.7 million tonnes at 2.54% nickel for 43,000 tonnes contained nickel
• Group production reaches 13,225 tonnes contained nickel
• Senior and subordinated project debt repaid
• Company admitted to the ASX/S&P 200 Index
• Initial Deacon Resource of 58,000 tonnes contained nickel
2006
• Winner Mine approval
• Deacon mineralisation discovered
• Winner Resource upgrade to 110,000 tonnes at 5.56% nickel
• $20 million equity raised at $1.25 per share
• Copernicus joint venture (60%) confirmed
2005
• Maiden profit of $12.2 million
• First Lanfranchi Project ore delivered to BHP Billiton Nickel West
2004
• Lanfranchi acquisition finalised
• Savannah Plant commissioned
• Open pit mining commences at Savannah
2003
• $52 million project debt facility secured
• Off take agreement signed with Jinchuan and Sino Mining
2002
Bankable feasibility study for the Savannah Project completed
2001
Company listed on the ASX
Source: http://panoramicresources.com/display/index/history
Environmental Officer
Panoramic Resources Ltd is an established Western Australian Nickel Sulphide producer with two profitable, wholly owned and operated underground operations; the Savannah Nickel Project 120kms north of Halls Creek in the Kimberley, and the Lanfranchi Nickel Project 42kms south of Kambalda.