PAN - Panoramic Resources

[Joe Blow]

Panoramic Resources (PAN) was previously known as Sally Malay Mining (SMY) until its name change on June 16, 2008.

Discussion on the company will continue in this thread.

Previous discussion can be found in the SMY thread: https://www.aussiestockforums.com/forums/showthread.php?t=2213

 

[Phillip]

PAN just purchased a controlling stake in the Lanfranchi Nickel mine from Brilliant resources. In return Brilliant resources will receive 12 million PAN shares that are escrowed for six months. Does anyone follow PAN [or resource sector] closely and the implications it will have on PAN - positive or negative, I hold PAN.

Phillip

 

[oldblue]

PAN just purchased a controlling stake in the Lanfranchi Nickel mine from Brilliant resources. In return Brilliant resources will receive 12 million PAN shares that are escrowed for six months. Does anyone follow PAN [or resource sector] closely and the implications it will have on PAN - positive or negative, I hold PAN.

Phillip

PAN already held the controlling stake in Lanfranchi with 75%. The 25% they purchase from Brilliant will give them total ownership.
Difficult to assess the implications but would have to assume that PAN would not have bought if it wasn't a good move in their view. After all, they know the mine better than anyone else, it's not as if they are buying someone else's problem child and we must assume that they wouldn't overpay. Perhaps Brilliant wanted out and PAN had a pre-emptive right but in any case they wouldn't have been compelled to buy if it didn't suit them.
100% ownership must simplify management of the mine I would think.
PAN made an operating profit of about $9m for the half-year before asset write-downs. Significant that Lanfranchi didn't get written down. Interests in Savannah and Copernicus were the culprits so to this extent I assume that PAN are happy with the Lanfranchi valuation.
I see the transaction is as at 30 November 2008 so the new shares issued to Brilliant will qualify for the interim dividend.

Overall, I'm comfortable with the purchase. PAN is well placed when/if? the PoN takes off again.



Disc: Holding.

 

[TONEDEF]

Current Nickle stocks appear to be trending down
This may mean price will increase as soon as it shows further downhill
Many miners have reduced production or shut mines- eg BHP and Ravensthorpe
Supply and demand
I bought at 85 and hope they will climb back soon
For charts check out

http://www.kitcometals.com/charts/nickel_historical_large.html

 

[rabbit59]

Hi fine people, no action on this thread for quite some time now, wondering if any holders are out there>>>??? Any inside views or thoughts on this company, have had them on my watch list since the downfall in markets(GFC) and they seem to be steadily increasing, i am considering buying at the current price looking good in terms of financials and pay reasonable divs. Any thoughts welcomed

 

[sptrawler]

They seem to be a well run company, scaled back production through the g.f.c, but maintained operations, therefore ramp up costs were minimal. If my memory serves me correctly they also bought into gold exposure(not sure which company). I had them , sold out and am looking for buy in opportunity.

 

[UMike]

Well I am in @2.35

I am guessing that there is a bit of profit taking atm that is draggin the price down.

 

[rabbit59]

They seem to be a well run company, scaled back production through the g.f.c, but maintained operations, therefore ramp up costs were minimal. If my memory serves me correctly they also bought into gold exposure(not sure which company). I had them , sold out and am looking for buy in opportunity.

I have not been involved in them, but have had them on my watchlist for past months.... but I am seeing this stock at a much higher value than what our fascinating Aus market has them at... good for us i guess.... anyway after todays trade, i am very keen for a buy in opp, i did see an article somewhere re gold, keep in touch

 

[rabbit59]

Well I am in @2.35

I am guessing that there is a bit of profit taking atm that is draggin the price down.

That is all i can see it as, thats why i jumped into this thread, couldnt hold back, i cannot see any other reasons....

 

[Miner]

did any think why one of the directors unloaded his shares so heavily?
I shot an email and thankfully I got a reply.
The cause of sell seemed to be reasonable - they had a sell window and he unloaded some of the shares.

Well I took a pinch of salt and I unloaded my holding too. Since the share price gone south. I do believe it is a good company and opportunity to reenter again

DYOR

 

[rabbit59]

did any think why one of the directors unloaded his shares so heavily?
I shot an email and thankfully I got a reply.
The cause of sell seemed to be reasonable - they had a sell window and he unloaded some of the shares.

Well I took a pinch of salt and I unloaded my holding too. Since the share price gone south. I do believe it is a good company and opportunity to reenter again

DYOR

Its been heading south for some time now.... its gonna be a better time to take the opportunity sooner, rather than later.....

IMO DYOR OK

 

[oldblue]

Its been heading south for some time now.... its gonna be a better time to take the opportunity sooner, rather than later.....

IMO DYOR OK

Perhaps, but I don't see the point in buying into a downtrending stock. Far better IMO to wait for that to reverse.

Nickel miners generally are classic cyclicals with their SP's rising and falling with the price of nickel. A few commentators have been picking recently that Ni is one metal that looks a bit soft, price-wise, in coming months. The PoN has, in fact, dropped a bit in recent weeks while LME ni stocks have risen.

Add in the recent quarterly report from PAN which showed that their costs had risen a bit and revenue had dropped accordingly.

I'm waiting on the sidelines.

 

[oldblue]

Seems I might have mis-interpreted Rabbit's post and that he was talking about an opportunity to sell, not to buy!

Apologies, rabbit!

 

[rabbit59]

Seems I might have mis-interpreted Rabbit's post and that he was talking about an opportunity to sell, not to buy!

Apologies, rabbit!

thanks... exactly my point, but about your other post, I am looking also at it in such a way, that yes, i would never buy into a downtrend stock, but indeed, i am also looking for the next opportunity, as i do strongly believe that there will be one soon, this is a great company, with a fairly good board, and also a lot of money...their day in the sun will come soon also, but for now, its a sideline game for me too.... Cheers!

will be watching this thread, have a good one blue!

 

[springhill]

Panoramic Resources have announced significant Upgrade in Gold Resource at Gidgee
63% increase to 1.05 million oz Gold
http://www.asx.com.au/asxpdf/20120621/pdf/426yzh8t111gg4.pdf


Highlights
● Gold Resources at Gidgee increase by 63% to 1,048,600oz of gold (previously 634,000oz)
• Combined Open Pit Resources of 7.4Mt at 2.17g/t Au for 513,100oz Au
• Underground Resources of 2.3Mt at 7.30g/t Au for 535,500oz Au
• Total Resources of 9.6Mt at 3.38g/t Au for 1,048,600oz Au
• Howards resource increased to 1.8Mt at 1.54g/t Au for 91,300oz Au
• Heron South resource increased to 0.7Mt at 2.62g/t Au for 60,100oz Au
• Swan Bitter resource of 4.1Mt at 3.01g/t Au for 392,800oz Au
● Scoping Studies expanded to include larger resource base inclusive of free milling and sulphide resources
● Resource upgrades at Howards and Heron South expected in Q3 2012, pending drilling and assay results

PAN's latest investor update here.
http://www.asx.com.au/asxpdf/20120620/pdf/426ygbzsy8m13w.pdf

 

[springhill]

GIDGEE GOLD PROJECT - SCOPING STUDY

● Gold Production – estimated at 606,000oz of gold over an initial seven years, average annual production of 87,000oz
● Operating Cash Costs - very competitive at an estimated A$870/oz of gold or A$80/t ore milled
● Capital Cost - approximately A$127M (mining development, processing and associated infrastructure)
● Project Economics - estimated cumulative pre-tax free cash flow of $213M for the A$1,500/oz Base Case and $516M for the A$2,000/oz Alternative Case
● First Production - targeting 2014
● Upside - from pending resource upgrades, optimisation studies, third-party arrangements for power and infrastructure.

9.7m of massive sulphides intersected at Savannah

● Drilling below the 900 Fault at Savannah intersects 9.7m of massive sulphide mineralisation, assay results pending
● This is the first hole of a 20,000m drilling program designed to test a series of geophysical conductors associated with the offset position of the Savannah Intrusion below the 900 Fault at Savannah

 

[stormboy]

Just bought into PAN at 0.23, doing a drilling program to accurately locate a huge nickel deposit below the 900 fault. Are running a neat operation and expect an announcement in coming months for both Lanfranchi mine life and also a huge deposit/results at Savannah.

Only problems being the nickel price, although has slowly gone up and the AUD coming down helps to pump money into the low cost producer. Also the executives over paid salaries. Holding onto big gold deposits at Gidgee and Platinum Palladium down the road from Savannah, in which they may use the camp and processing plant.

Anyone got any shares in PAN or opinions?

 

[UMike]

PAN's cash costs are above the industry average, and the Chinese nickel pig iron sees nickel in plentiful supply which is suppressing the price that PAN can get. Nickel industry profits are abysmal and unlikely to get significantly worse.

PAN has made a loss for the past 2 years and may not be in profit this years also.

There is a chance that they may not even get any of their new ventures of the ground.

I am holding a small parcel for a decent loss.

Who knows..... The may be a turn around story....

I think I may prefer the red or black squares on the roulette wheel though atm.

 

[oldblue]

I'm in the same position as UMike - a small holding from the heady days of $2+ - and share his sentiments. I don't think a loss-making Ni business is attractive these days and don't see anything to recommend PAN over the many junior miners with equally promising prospects in other metals. Best hope is to hang in there meanwhile until there's some signs of recovery, which will be evidenced by activity in the stock price and volumes.

:frown:

 

[stormboy]

I'm in the same position as UMike - a small holding from the heady days of $2+ - and share his sentiments. I don't think a loss-making Ni business is attractive these days and don't see anything to recommend PAN over the many junior miners with equally promising prospects in other metals. Best hope is to hang in there meanwhile until there's some signs of recovery, which will be evidenced by activity in the stock price and volumes.

:frown:

I hope for both you guys that nickel recovers and they get their gold & platinum palladium mines into full swing.