Panoramic raises funds to shorten Savannah restart lead time

As Western Australia-based Panoramic Resources moves closer to a decision to resume mining operations at the Savannah nickel mine, in the East Kimberley, the company will raise A$20.9-million for preproduction activities. Panoramic will raise A$20.9-million in an one-for-seven pro-rata renounceable entitlement offer at 34c a share, the ASX-listed company reported on Wednesday, adding that the offer was fully underwritten.