Panoramic problems at Savannah see half Macquarie debt repaid by new equity

NICKEL miner Panoramic Resources has again been forced to amend its financial obligations to banker Macquarie, with the change this time seeing its A$40 million debt to be halved and repaid by new equity being raised in a pro-rata renounceable rights issue.

Panoramic problems at Savannah see half Macquarie debt repaid by new equity Panoramic problems at Savannah see half Macquarie debt repaid by new equity Panoramic problems at Savannah see half Macquarie debt repaid by new equity Panoramic problems at Savannah see half Macquarie debt repaid by new equity Panoramic problems at Savannah see half Macquarie debt repaid by new equity

Savannah, northern Western Australia

Underperformance of the Savannah nickel-copper-cobalt operation in the current quarter is behind the amendment, with multiple reasons attributed for monthly output of 46,000t in July and August being