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PANORAMIC RESOURCES MOVES TO CONSOLIDATE OWNERSHIP OF WA MINE.
MELBOURNE, March 2 Asia Pulse - Nickel producer Panoramic Resources Ltd will consolidate ownership of the Lanfranchi mine in Western Australia, after buying its Canadian partner's stake in the project.
Panoramic, formerly Sally Malay Mining, (ASX:SMY) has agreed to purchase Brilliant Mining Corp's 25 per cent stake in Lanfranchi by issuing a mixture of shares and options.
"By moving to 100 per cent ownership of the Lanfranchi project, Panoramic receives an instant increase in resources, reserves and production, as well as simplifying administration and management," Panoramic managing director Peter Harold said in a statement.
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