Panoramic Resources Updates FY20 Production Guidance

Panoramic Resources (ASX:PAN,OTC Pink:PANRF) has provided an updated short-term production outlook for the Savannah nickel mine. Highlights are as follows: Updated FY20 production guidance driven by expected mining contract equipment and personnel mobilisation timing, and further required mine scheduling changes in Savannah remnant ore. Savannah North remains on schedule for first stoped ore in the … Continued

Panoramic Resources (ASX:PAN,OTC Pink:PANRF) has provided an updated short-term production outlook for the Savannah nickel mine.

Highlights are as follows:

  • Updated FY20 production guidance driven by expected mining contract equipment and personnel mobilisation timing, and further required mine scheduling changes in Savannah remnant ore.
  • Savannah North remains on schedule for first stoped ore in the current quarter and ramp-up of ore volumes through calendar 2020.
  • Panoramic assessing funding options including options that do not include raising additional equity capital, and potential change of control transaction discussions continue.
  • Total FY20 production is now expected to be 5.2 – 5.6 thousand tonnes (kt) contained nickel, 3.4 – 3.7kt contained copper and 280 – 320 tonnes (t) contained cobalt. This compares with previous guidance of 7.0 – 7.5kt contained nickel, 4.5 – 5.0kt contained copper and 400 – 450t contained cobalt and 1H FY20 actual production of approximately 2.38kt contained nickel, 1.55kt contained copper and 119t contained cobalt.

Click here to read the whole Panoramic Resources (ASX:PAN,OTC Pink:PANRF) press release.

Rio Tinto reaches agreement with Turquoise Hill Resources on financing plan for Oyu Tolgoi

Rio Tinto has entered into a binding Heads of Agreement (HoA) with Turquoise Hill Resources (TRQ) for an updated funding plan (the “Funding Plan”) for the completion of the Oyu Tolgoi (OT) Underground Project in Mongolia. The Funding Plan addresses the estimated remaining known funding requirement of approximately $2.3 billion 1 , building on and replacing the arrangements established in the Memorandum of Understanding that Rio Tinto and TRQ previously entered into on 9 September, 2020.

Under the HoA, subject to securing approval by OT LLC and any required support from the Government of Mongolia, and subject to timing, availability, and terms and conditions being acceptable to both parties, Rio Tinto and TRQ will:

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Rio Tinto Exploration and Calibre Mining Initiate 2021 Exploration Program Including 5,500 Metre Drilling Campaign Prioritizing Prospective Near-Surface Copper and Copper-Gold Mineralization

Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (the “Company” or “Calibre”) is pleased to provide an update on the Borosi exploration project held under an earn-in option agreement between Rio Tinto Exploration (LSE:RIO) (“RTX”) (“Rio Tinto”) and Calibre. Calibre controls a 100% interest in the Borosi concessions located in the prolific Mining Triangle region of northeastern Nicaragua. RTX has the right to earn a 75% interest by spending US$45 million over eleven years in the project ( see Calibre news release dated February 24, 2020 ). The Borosi exploration program is being directed by RTX through a partnership agreement with Calibre as project operator.

Highlights

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FDA Approves Trodelvy®, the First Treatment for Metastatic Triple-Negative Breast Cancer Shown to Improve Progression-Free Survival and Overall Survival

Trodelvy Significantly Reduced the Risk of Death by 49% Compared with Single-Agent Chemotherapy in the Phase 3 ASCENT Study –

– Trodelvy is Under Regulatory Review in the EU and in the United Kingdom, Canada, Switzerland and Australia as Part of Project Orbis

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Rio Tinto details $47 billion 2020 economic contribution, including $8.4 billion of taxes and royalties

Rio Tinto today released its 2020 Taxes paid: Our economic contribution report , which shows the company made a total direct economic contribution of $47 billion in the countries and communities where it operates, including $8.4 billion of taxes and royalties.

Despite the widespread challenges of COVID-19 in 2020, the contribution was up from the previous year, when Rio Tinto made a total direct economic contribution of $45.1 billion in the countries and communities where it operates, including $7.6 billion of taxes and royalties.

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