PanAust (PNA) is junior miner that holds mineral assets in the Laos and Thailand. The group was also one of hot stocks in 2010, surging over 50% during the year.
In Laos, PanAust operates the large Phu Kham copper-gold operation, which commenced production of copper-gold concentrate in April 2008.
On 24 January, PNA reported record copper production of 18.871 tonnes for the 4Q10, up 11.5% from the previous quarter.
Copper production was driven by increased recovery rates and above average head grades at PNA’s Phu-Kham operation in Laos.
Gold output increased by 23.7% from the previous quarter, while cash costs declined from US$1.01 to US$0.76.
PNA expects strong mining and production performances to result in 2011 copper production of 62,000 – 65,000 tonnes at an average cash cost of US$0.95 – US$1.05 a pound.
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