copper 1.99usd/lb, page-37

Agree Segura, as at this stage PNA is in exploration phase for its High�]grade copper Project at Puthep (Thailand) and IMO issues in Thailand won't have any impact.

Copper sales for PNA has been solid through its copper concentrate from its Phu Kham operation mine in Laos. As far I remember from last year, PNA reached an agreement Copper sales Pact over 4 years with a leading metals trader China's Tongling Nonferrous Metals (largest copper smelting firm).

BHP is still brokered a sales agreement between PanAust and China's largest copper smelting firm, Tongling Nonferrous Metals.

Reuter's article last year (4/12/2008):
http://uk.reuters.com/article/companyNews/idUKSYD21955820081204?symbol=PNA.AX

UPDATE 1-PanAust says in 27,000/t copper sales pact
SYDNEY, Dec 4 (Reuters) - Australia-listed PanAust Ltd (PNA.AX) has reached an agreement with a leading metals trader to sell copper concentrate from its mine in Laos containing over 27,000 tonnes of copper and nearly 30,000 ounces of gold, the company said on Thursday.
PanAust also said the company was on track to meet its 2009 production target of 65,000 tonnes of copper, with projected cash operating costs well under current depressed copper prices.
"The Phu Kham operation is cash flow positive with copper production at design levels and ramping up to meet a production target of 65,000 tonnes of copper at a cash cost better than 90 (U.S.) cents a pound," Managing Director Gary Stafford told Reuters.
The sales mean PanAust, one of only two copper and gold miners operating in the Southeast Asian nation, has pre-sold 90 percent of its projected output of 65,000 tonnes of copper in 2009, Stafford said.
At that level, PanAust production will be in line with fellow Australia-listed miner Oz Minerals (OZL.AX), which operates the Sepon mine in Laos.
Oz Minerals has said it will delay expansion of the Sepon mine, which would have lifted production by a third to 80,000 tonnes, due to weak metals prices. [nSYD383324]
Copper prices have halved since January to around $3,400 a tonne, or $1.54 a pound, with the 18 million-tonnes-a-year world market hit by slowing industrial activity.
PanAust shares rose 8 percent to A$0.135, outpacing percentage gains in the wider market .AXJO.
In addition to the spot treatment and refining sales contract covering 110,000 tonnes of concentrate from the Phu Kham mine, the company said it will enter into a long-term contract with the unidentified trading house to deliver 70,000 tonnes of concentrate annually starting in 2010.
Those sales will be negotiated by a metals trading division of BHP Billiton Ltd/Plc (BHP.AX)(BLT.L), Stafford said,
BHP earlier this year brokered a sales agreement between PanAust and China's largest copper smelting firm, Tongling Nonferrous Metals, covering 80,000 tonnes of concentrate -- ground ore -- over the four years. ($1=A$1.54) (Reporting by James Regan; Editing by James Thornhill)