Panoramic Resources Ltd. reported earnings results for six months ended December 31, 2011. For the period, the company reported total net revenue was AUD 116.1 million against AUD 129.2 million a year ago. EBITDA before impairment was AUD 23.5 million against AUD 49.4 million a year ago. Loss before tax and impairment was AUD 0.7 million against profit of AUD 26.6 million a year ago. Loss before tax was AUD 4.8 million against profit of AUD 26.6 million a year ago. Net loss after tax was AUD 3.9 million or 1.9 cents per share against profit of AUD 17.5 million or 8.5 cents per share a year ago. Cash flow from operating activities before tax was AUD 23.0 million against AUD 20.5 million a year ago. Payments for property, plant, and equipment were AUD 22.0 million against AUD 6.9 million a year ago. Total group production guidance for the full financial 2011/12 year has been increased from 17,500-18,500 tonnes to 18,500-19,000 tonnes of nickel contained in concentrate/ore. In light of the increase in exploration and evaluation activities across the Group, especially at the Gidgee Gold Project, the Group is forecasting to spend up to AUD 18 million on exploration over the full 2011/12 financial year.