https://www.engineeringnews.co.za

Panoramic to launch share buy-back

15th December 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – Nickel miner Panoramic Resources on Monday announced an on-market share buy-back as part of its efforts to increase share value.

The ASX-listed company told shareholders that it would buy-back some 15.96-million shares over the next 12 months, and would cancel these shares once acquired.

The Panoramic board believed that the company’s shares were trading at a level which ‘significantly undervalued’ the company’s assets, and the proposed buy-back was aimed at consolidating Panoramic’s capital base.

The company’s shares were trading at around 37c a share on Monday.

The nickel miner in November announced that it would start the development of the Jury-Metcalfe decline, at its Lanfranchi operation, in Western Australia, following an amendment of the existing toll treatment and concentrate purchase agreement with mining major BHP Billiton.

The company started the six- to nine-month predevelopment activities at the Jury-Metcalfe resource, developing a decline that would allow Panoramic access to the orebody and exploration drill platforms to continue further exploration of the area.

The decision to start production from the Jury-Metcalfe orebody would be dependent on the prevailing and forecast nickel prices during the June 2015 quarter.

Edited by Creamer Media Reporter

Comments

Latest News

Kenhardt solar farm, in Northern Cape
Scatec inaugurates 540 MW Kenhardt solar farm
Updated 2 hours 37 minutes ago By: Marleny Arnoldi

Showroom

Schauenburg SmartMine IoT
Schauenburg SmartMine IoT

SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...

VISIT SHOWROOM 
ESAB showroom image
ESAB South Africa

ESAB South Arica, the leading supplier of high-end welding and cutting products to the Southern African industrial market is based in...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.08 0.13s - 156pq - 2rq
Subscribe Now