PanAust sticks to its guns for 2013
PERTH (miningweekly.com) – Metals miner PanAust has maintained its production guidance for 2013, and has told shareholders that free cash would likely increase sharply during the remainder of the year after the company completed all board-approved capital expenditure.
During the quarter ended June, PanAust produced some 15 483 t of copper and 16 092 oz of gold at its Phu Kham operation, in Laos, which was a 13% increase on the previous quarter.
PanAust noted that the construction of the increased recovery project was completed during mid-April, with ramp-up and optimisation well advanced by the end of the quarter. Accordingly, copper recovery rates have increased steadily.
At the Ban Houayxai gold/silver operation, also in Laos, quarterly production reached 28 712 oz in dore, an 11% increase on the previous quarter. This was as a result of a higher mill throughput rate, achieved on the back of a reline of the semiautogenous grinding mill in March, which allowed for grinding media charge to be increased.
A revised life-of-mine plan for Ban Houayxai has scheduled the 2013 full-year gold production at 110 000 oz, some 10% higher than the previous guidance.
For the full year, PanAust expected to reach a production of between 62 000 t and 65 000 t of copper in concentrate, a precious metal production of between 160 000 oz and 175 000 oz gold and between 1.1-million and 1.2-million ounces of silver.
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