Mining Stocks News PanAust (PNA)

PanAust PNA ASXPanAust (PNA)  is junior miner that holds mineral assets in the Laos and Thailand.

In Laos, PNA operates the large Phu Kham copper-gold operation, which commenced production of copper-gold concentrate in April 2008.

ON 14 December, PNA increased its 2010 production guidance to 67,000 tonnes of copper, from the previous 65,000 tonnes.

Cash costs are also expected to decline to US$0.90/lb from the previous range of US$0.95/lb – US$1.05/lb.

PNA based the upgrade on strong quarter to date production at its flagship Phu Kham Copper-Gold Operation in Laos.

PanAust also forecast EBITDA of US$260 million on the assumption that production will exceed sales in the final quarter of the year.

PNA flew 10.7% on the day of its guidance, making it one of the best performers in the stock market.

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