Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Interested on your thoughts around Panoramic Resources ? Promising (I believe....) drilling results and just completed their 2nd shipment. Western Areas, according to Morningstar, has a %20 holding in PAN. What are the implications of this given the news around WSA ? Is PAN a worthwhile investment on the Nickel space ?
Hi Rob,
We like Nickel and PAN is a very leveraged play on the Nickel price. The best leverage to any commodity is through the explorers however that obviously comes with bigger upside and bigger downside potential. For us, while PAN has merits around the current 30c region our preferred nickel exposure is the bigger end of town via IGO, ideally into weakness under $11 – to get this price we will probably need our short-term bearish view towards the Resources Sector to prove correct. RE WSA and PAN, they do own 19.9% of PAN and that will simply transfer to IGO if/when the IGO takeover of WSA completes.
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