Panoramic Resources’ Q4 2018 Quarterly Report
Elemental Royalties Limited, (“Elemental”), a private company expanding a diversified portfolio of mineral royalties, is pleased to comment on the recent announcement made by Panoramic Resources Ltd (“Panoramic”) of that company’s Q4 2018 quarterly report. Panoramic is the operator of the Panton PGM project in Western Australia, on which Elemental Royalties holds a 0.5% NSR royalty.
Elemental is pleased to note the positive Q4 2018 report from Panoramic, where that company’s focus remains on restarting the Savannah nickel project, located 60km north of Panton. Progress includes the refurbishment of the processing plant, expansion of the tailings storage facility, production from the Savannah orebody and associated recruitment and shipping operations.
Panoramic considers the Panton Project to be a quality development asset which fits within the Company’s commodity diversification and growth strategy and is a key part of its Kimberley Hub concept.
In addition to continuing to sponsor research by Curtin University on alternative PGM leaching methods applicable to Panton ore, Panoramic is studying the viability of producing a high-grade PGM concentrate together with a chromite by-product steam. Recent testwork indicated that a metallurgical grade chromite by-product can be produced from the Panton PGE concentrate flotation tails using relatively straightforward and inexpensive (WHIMS) magnetic separation techniques. The ability to generate a second revenue stream based on a chromite by-product is potentially a significant development for the Panton Project.
Panoramic has also commenced test-work in conjunction with Curtin University to evaluate the feasibility of producing a value-added Pt, Pd and Au product (bullion) from Panton while maintaining the ability to also produce an economic chromite by-product revenue stream. If possible this should have significant advantages for the Panton project by reducing the capital and operating cost of the PGE extraction and recovery process, enabling the production of a valuable Pt, Pd and Au product as bullion, while maintaining the ability to produce a revenue generating chromite by-product from the flotation tails. Testwork will begin at Curtin University in early 2019.
The text above is Elemental Royalties’ comment to the operator’s news release and is not included within the original release. The original article is available using the links below.
|Original Article: https://panoramicresources.com/asx-announcements/|
|Download PDF: http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=02069481|
About Elemental Royalties Limited
Elemental is a private company providing investors with exposure to a dividend-paying royalty company building a diverse portfolio of mining royalties, benefiting from ongoing royalty revenue, future exploration upside and low operating costs.
Since early 2017 Elemental has assembled a portfolio of five royalties over seven commodities in four countries, four of which cover producing mines. Immediate cash-flow has enabled the Company to limit dilutive fund-raisings to facilitate royalty acquisitions, and to pay a dividend from inception.
Elemental’s focus remains on securing royalties over advanced assets with established operators and credible counter-parties from a robust pipeline of potential royalty acquisitions across commodities and geographies.
For further information you are invited to visit the Company’s website www.elementalroyalties.com or contact:
|Elemental Royalties Limited|
|Frederick Bell: Managing Director||T: +44 (0) 203 434 633|
|M: +44 (0)755 487 2794|
|Greg Owen: Corporate Development Manager||T: +44 (0) 203 434 633|
|M: +44 (0)7887 554 316|
Cautionary Note Regarding Forward Looking Statements
This press release may contain statements which constitute “forward-looking”, including statements regarding the plans, intentions, beliefs and current expectations of the Company, and its directors, or officers with respect to the future business activities and operating performance of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions or the negative thereof, as they relate to the Company, or its management, are intended to identify such forward-looking statements.
Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. These forward-looking statements speak only as at the date of this press release. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements.