Panoramic produced 4581 tonnes of nickel in concentrate for the three months to the end of June, down 3% on the previous quarter.

The reduced output came despite on budget quarterly production at the Savannah project in the East Kimberley, where a new monthly throughput record of 83,741t of ore was set during May.

At the Lanfranchi project near Kambalda, production for the first two months of the quarter was below expectation after the company undertook rehabilitation work and rescheduled production as a result of seismic activity late in the March quarter.

June monthly production at the project was back in line with the company’s expectation.

For the financial year, Panoramic produced 19,301t of nickel in concentrate, just short of its revised guidance of 19,500t announced in March quarterly report.

The company said the result was solid given the various operational issues it had faced at both sites over the financial year.

There were no lost time injuries at Panoramic’s operations during the June quarter following one the previous quarter, but managing director Peter Harold said the area would continue to be a focus for the company with a number of initiatives instigated.

The company had $A65 million worth of liquid assets at the end of the June quarter, with $54 million in cash and $11 million of trade receivables.

Looking forward, Panoramic said its focus at Lanfranchi would be the development of a drill drive to act as a platform for its Lower Schmitz deposit’s maiden resource drilling program.

The drilling of Lower Schmitz is expected to start in October 2015 and take around two months.

At the Savannah North deposit, a resource drilling program will continue through the quarter and is on track to report a maiden resource during the December quarter.

Panoramic said it would provide guidance for the 2016 financial year once its internal budgets had been finalised.

The company’s full quarterly report is scheduled for release on July 28.

Shares in Panoramic fell 1.1% to 46.5c yesterday.