Nov 22 (Reuters) - Panoramic Resources:
* ESTABLISHED A DATA ROOM AND WILL PROVIDE A NUMBER OF PARTIES, INCLUDING IGO, WITH INFORMATION TO CONDUCT DUE DILIGENCE
* OPERATIONAL REVIEW IS CURRENTLY UNDERWAY TARGETING AN IMPROVED OPERATIONAL PERFORMANCE AT SAVANNAH
* DATA ROOM TO PROVIDE OPPORTUNITY TO PUT FORWARD ALTERNATIVE PROPOSALS TO MAXIMISE VALUE FOR PANORAMIC SHAREHOLDERS
* FIRST DEVELOPMENT ORE PRODUCED FROM SAVANNAH NORTH DEPOSIT THIS WEEK & ORE PRODUCTION EXPECTED TO RAMP UP OVER COMING QUARTERS
* NO CERTAINTY THAT ANY ALTERNATIVE PROPOSAL WILL BE PUT FORWARD,
* REITERATES ITS PREVIOUS ADVICE THAT PANORAMIC SHAREHOLDERS TAKE NO ACTION IN RELATION TO IGO OFFER
* NOTES THERE IS NO CERTAINTY THERE WILL BE RECOMMENDATION IN FAVOUR OF ANY ALTERNATIVE PROPOSAL BY PANORAMIC BOARD