Panoramic Open To More Offers

Metals miner Independence Group has again urged the shareholders of takeover target Panoramic Resources to accept a takeover offer, but has reserved its rights to terminate the offer in the wake of a capital raising by Panoramic.

Panoramic earlier this month raised the need for additional funds, given the below budget production and the reduced revenues from its Savannah project, in Western Australia.

The nickel miner has launched an operational review of the project, with a warning that the full-year production guidance would not be met.

(Image by ID 889520 from PixaBay)