17/07/2009 - 10:46

Panoramic confirms Barrick interest

17/07/2009 - 10:46

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Nickel miner Panoramic Resources has confirmed it is running the ruler over Barrick Gold's Osborne copper-gold mine in Queensland as part of its acquisition plans.

Panoramic confirms Barrick interest

Nickel miner Panoramic Resources has confirmed it is running the ruler over Barrick Gold's Osborne copper-gold mine in Queensland as part of its acquisition plans.

The company has previously said it is looking to branch out of nickel and was specifically chasing copper, gold and platinum group metals commodities.

The acquisition strategy is part of a 10-year plan to become a diversified mining house and enter the ASX top 100 company list.

"A key component of achieving this plan is to acquire additional assets and accordingly the company is constantly reviewing opportunities," Panoramic said in a statement.

"Barrick's Osborne copper-gold mine in Queensland is one of a large number of assets that the Company has reviewed as part of this process over the past 12 months."

The company is also seeking acquisition opportunities in zinc, lead, energy and bulk commodities such as iron and coal.

Shares in Panoramic were down 14 cents to $2.47 at 12:25 AEST.

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