The share price of nickel miner Panoramic Resources tumbled by more than 30% on Wednesday, after the company announced that its Savannah operation, in Western Australia, would be placed on care and maintenance.
Panoramic blamed the continued decline in the US nickel price and the uncertain outlook for the price over the foreseeable future. Panoramic said the price outlook had necessitated a review of its activities at both the Savannah operation and the Perth head office.
