Shares: 414 mill. Price 19.5 cents (+1). There are also 14.2 mill. exec. options. Cash: 11 mill. on 11 Dec 2003.
Exploration: LAOS: Date 19 Dec. 2003: http://stocknessmonster.com/news-item?S=PNA&E=ASX&N=157512
Extract: It is anticipated that the recent successful extension and infill drilling at the Phu Kham gold cap, together with exploration at LCT and planned extensionidentify over 500,000 ounces in resource (0.5g/t cut-off) for the feasibility study currently underway and scheduled to be completed by June 2004". PNA holds 80% of this; the Laos Govt the remainder.
Exploration: Thailand. PNA has an advanced Copper heap leach SXEW project in Thailand ( Puthep) but no work has been done lately as all efforts are drilling at Ban Houayxai, will enable Pan Australian to concentrated on the Phu Kham project. This also applies to the precious and base metal exploration projects in Queensland.
Summary : Basically, PNA is concentrating on the Laos project with its possible 500,000 gold ounces project. To have $11 mill. cash is a very good introduction.
The company has 3 mining projects around Phu Kham. Because PNA has quite a few shares, it is essential to mine as much as popssible and we don't know till end of June what the intention is. By then, it can concentrate on hopefully more projects in Laos and most likely wil revisit the Thailand heap leach project.
Gerry
PNA Price at posting:
0.0¢ Sentiment: None Disclosure: Held
