PanAust Limited (PNA)

Welcome to InvestSMART

You are currently viewing our site as a guest, which gives you limited access to our site features. By signing up for a free membership, you will receive our Investment Opportunity newsletters and have access to additional features for finding and comparing managed funds and shares. Registration is fast and simple, so please:

Sign Up Today » it's FREE! Already a member? Login now!

General Information
Company Name: PanAust Limited
Stock Code: PNA
GICS Sub-Industry: Diversified Metals & Mining
Market Cap ($M): 1,047
Equiv. Shares (M): 637

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
 $ 1.645 $ 1.655 $ 1.662 $ 1.625 $ 1.670 1,300,328 $ -0.025  -1.497 %

Current Broker Consensus Recommendation more
Recommendation: Buy (2.4)
Recommendation Date: 27th Nov 2014
Brokers Surveyed: 5

Company Overview

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.

Financial Summary
Year to Dec NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2015  F 79.4 12.4 42.4 13.2 7.5 4.5 0.0
2014  F 55.7 8.7 -22.6 18.8 5.2 3.2 0.0
2013  A 70.3 11.3 -50.3 20.1 6.0 2.6 0.0
Source: Morningstar analyst estimates.

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2013 A 2014 F 2015 F 2013 A 2014 F 2015 F 2013 A 2014 F 2015 F
BHP Billiton (BHP) $102,774 M 0.1223 -0.1577 0.0963 11.9671 14.2083 12.9602 4.01 4.52 4.70
Iluka Resources (ILU) $2,923 M -0.6600 -0.9279 11.0995 22.7584 315.8371 26.1032 1.29 1.98 3.71
PanAust (PNA) $1,063 M -0.7034 0.2650 0.4907 24.4510 19.3287 12.9658 4.02 3.22 4.14
Rio Tinto (RIO) $25,283 M 0.5848 -0.2966 0.0923 7.5561 10.7419 9.8337 3.70 4.13 4.42
Sims Metal Management (SGM) $2,157 M 3.0215 1.0051 0.3254 31.3131 15.6171 11.7831 0.95 2.62 3.98

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth P/S Ratio
PNA 0.81 19.4 0.96 0.52 1.21
Market 0.91 15.2 1.18 1.87 1.52
Sector 0.66 12.2 0.75 1.12 2.78

Name Position Start Date
Dr Frederick (Fred) Hess Managing Director 11 November 2014
Mr Garry Arthur Hounsell Non-Executive Chairman,Non-Executive Director 01 July 2008
Mrs Nerolie Phyllis Withnall Non-Executive Director 21 May 1996
Mr Geoffrey Arthur Handley Non-Executive Director 29 September 2006
Mr John Philip Crofts Non-Executive Director 17 September 2010
Ms Sally (Annabelle) Annabelle Chaplain Non-Executive Director 01 July 2012
Mr Geoff Billard Non-Executive Director 01 July 2008
Mr Zezhong Li Non-Executive Director 18 September 2009
Mr Kenneth William Pickering Non-Executive Director 28 October 2011

Name Position
David Hairsine Chief Financial Officer
Paul Martin Scarr Company Secretary
Rob Usher EGM PanAust Asia
Francisco Tomic EGM PanAust South America
Fred Hess EGM Project Development & Operational Improvement

Substantial Shareholders
Holding Name
145,154,849 (23.38%) Guangdong Rising Assets Management Co Ltd and its wholly owned subsidiary

Calendar of Events
Date Event
29 October 2015 Report (Quarterly)
20 August 2015 Report (Interim)
14 July 2015 Report (Quarterly)
28 April 2015 Report (Quarterly)
19 February 2015 Report (Annual)
19 February 2015 Report (Prelim)
22 January 2015 Report (Quarterly)
© 2011 Morningstar, Inc. All rights reserved. The data and content contained herein are not guaranteed to be accurate, complete or timely. Neither Morningstar, nor its affiliates nor their content providers will have any liability for use or distribution of any of this information. To the extent that any of the content above constitutes advice, it is general advice that has been prepared by Morningstar Australasia Pty Ltd ABN: 95 090 665 544, AFSL: 240892 (a subsidiary of Morningstar, Inc.), without reference to your objectives, financial situation or needs. Before acting on any advice, you should consider the appropriateness of the advice and we recommend you obtain financial, legal and taxation advice before making any financial investment decision. If applicable investors should obtain the relevant product disclosure statement and consider it before making any decision to invest. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). DISCLOSURE: Employees may have an interest in the securities discussed in this report. Please refer to our Financial Services Guide (FSG) for more information at


Trade Shares Online from $19.95^
Free Guides

The SMH Guide to Trading Using Options and Minis

This guide to using options and MINIs to improve the results of your trading is for those with some experience in trading shares.

More details...


Australian Share Market - Close Up

CMC Markets 11/11/2014 | The Australian share market is in a decision zone - and trading from here may set the direction for the rest of the year.

Prices slashed - everything must go!

Nick Swales, Regional Director, Newcastle Office, Rathbones 27/10/2014 | “If you want to have a better performance than the crowd, you must do things differently from the crowd.” Sir John Templeton.

Aussie share market bulls now have company

Ric Spooner (Chief Market Analyst, CMC Markets) 20/10/2014 | Today, Australian investors will not have to go it alone buying stocks as they did for much of last week. Bargain hunters this morning will be supported by the morale boosting encouragement of a 3% turnaround in the German Dax and a 264 point rally in the Dow Jones.

The Importance of Ignoring the Noise of the Market

Carl Richards, director of investor education at the BAM Alliance 17/10/2014 | “As odd as it may sound, the sooner you start treating your investments like you treat life, the happier you’ll be with the outcome.”

You only dance twice

William H. Gross, Janus Capital Group 16/10/2014 | “Financial markets are artificially priced. In the bond market, there is nothing normal about a three year German Bund yielding “minus” 10 basis points.”

The Big Picture - Australia 200 Index

CMC Markets 8/10/2014 | Share market indices around the globe are breaking down. While analysts cast around for reasons, it’s clear that a time factor is in play. Simply put, many investors “feel” a correction is overdue. How low could it go?


Sponsored Links