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Business Description: PanAust Limited (PNA) is a copper-gold producer with two Key producing assets in Laos being Phu Kham Operation and the Ban Houayxai Operation. In addition, PNA holds a portfolio of development and exploration projects located in Laos, Chile, and Thailand.
Strategy Analysis: PanAust seeks to grow organically via development of its portfolio of copper and gold projects. Management expects a more than doubling in copper equivalent production from around 60,000 tonnes a year to around 120,000 tonnes by fiscal 2015. Successful development of the Phu Kham and Ban Houayxai mines in south east Asia add credibility.
PanAust reported NPAT up 8% to US$142.27m for the year ended 31 December 2012. Revenues from ordinary activities were US$712.7m, up 24% from last year. The majority of this increase was associated with commencement of gold-silver dore sales from the Ban Houayxai gold-silver operation which started commercial production from 1 June 2012. Diluted EPS was 23.91 US cents compared to 22.28 US cents last year. Net operating cash flow was US$198.39m compared to US$239.14m last year. The final dividend declared was 4.0 AU cents, taking the full year dividend to 7.0 AU cents compared with nil cents last year.
By Michael McCarthy (chief market strategist, CMC Markets) 19/12/2014 |
Traders and investors caught short heading into the FOMC scrambled for cover in Europe and the US, in many cases driving indices to their best one day performance for 2015.
By Betty Lam (Sales Trader, CMC Markets) 18/12/2014 |
Lead by the Fed-fervour offshore, Australians shares jumped on the Yellen cheer wagon. The material and energy stocks were back in vogue as both sectors gained over 3% in morning trade.
By Michael McCarthy (chief market strategist, CMC Markets) 18/12/2014 |
In spite of a frenzied pre-mortem, a benign statement from the US Federal Reserve‚Äôs Open Market Committee and steadying commodity markets drove investors back into share markets overnight. A calmer, stronger ruble helped offset European growth fears, highlighted in the overnight session by further declines in inflation.
By Betty Lam (Sales Trader, CMC Markets) 11/12/2014 |
Offshore jitters sent ripples through to Australian stocks. The open saw the local equities take 65 points off the index, catalysed by a mass-exit in energy stocks, yet again.
By Ric Spooner (Chief Market Analyst, CMC Markets) 10/12/2014 |
Yesterday‚Äôs news on Greek politics and China‚Äôs bond market came at a time when US and European stock markets have extended rallies and pushed valuations higher. This makes those markets vulnerable to downward corrections as profit takers act to avoid missing out.
BR Securities Australia Pty Ltd 2/12/2014 |
December 2014 could go down as a nasty moment in Australian finance. MYEFO will reveal a deteriorating budget deficit and the UNFCCC meeting in Lima, Peru will provide the agreement, to be ratified in Paris in 2015, on how much (or little) CO2 is to be allowed into the atmosphere from 2020.
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