"Its time", page-6

According to the latest investor presentation on the PAN website the pre-production capital required for Savannah is $36M. According to the last quarterly report, at the end of March quarter there was $22.9M in the bank. So PAN needs to burrow money or do another CR. Quote from the quarterly
Next steps
The decision to restart Savannah is contingent on:
• finalising the off-take for the Savannah North nickel/copper/cobalt concentrate;
• securing project financing; and
• a sustained recovery in the US$ nickel price.
To get money bankers will need to see an offtake agreement finalised and be convinced about the Ni / Co / Cu prices. (We are all convinced by the project).
The $19M CR gets things going, but would be quickly chewed up by UG development and a new ventilation shaft.
Another possible is that they sell assets like Thunder Bay or Lanfranci. Another quote from the quarterly:
Due to the focus on Savannah, the options being considered for Lanfranchi include:
• retain ownership and continue to explore to increase the resource base;
• seek a joint venture partner to fund exploration activities; and/or
• divestment of the asset.
Hartleys Limited has been appointed to assist with this process.
Regards the graphite. It is a very different style of deposit and rocks to the Ni and I would doubt it has been considered.
GLTAH