Panoramic Resources: Implements rapid cost-cutting measures
- Panoramic Resources (PAN) has implemented a range of new measures in an effort to cut its operating costs as its Savannah Nickel mine sits idle
- Directors fees and executive salaries will be reduced, effective from May 1
- Staff headcounts at Panoramic’s corporate offices have also been reduced
- The cut-backs come after the company suspended operations at its Savannah Nickel Mine due to the COVID-19 pandemic
- Panoramic Resources is currently suspended from official quotation, and is expected to commence trading again no later than May 4
- Shares last traded for 12 cents each
