News: PanAust raises EBITDA guidance

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PanAust Ltd (ASX:PNA) has raised its EBITDA guidance for 2010 as sales increased to match higher production levels.

The company says EBITDA is now forecasted to be between $280 million to $290 million; an increase from the previous guidance of $260 million.

The increase comes as PanAust recently completed the sale of a fourth shipment from its Phu Kam Copper-Gold operation in Laos.

The firm's managing director, Gary Stafford, says the company usually delivers two to three shipments a month, so a fourth one before the yearend is a 'terrific response.'

For the year ended 30 June 2010, PanAust reported a net profit of $62 million.