Shares in PanAust Ltd
(ASX:PNA) rose on Tuesday, following the miner lifting its production guidance for 2010.
The copper and gold producer now expects to deliver 67,000 tonnes of copper at an average cash cost of less than $US0.90 per pound after precious metal credits, estimated from 60,000 ounces of gold and 500,000 ounces of silver in concentrate.
The upgrade comes on the back of strong quarter to date production at its flagship mine in Laos, and also higher commodity prices for copper, gold and silver.
PanAust says current 2010 EBITDA guidance of $US260 million is based on operating performance for the end of November, and the assumption that production will exceed sales in the final quarter of the year.
Financial and production guidance for the 2011 year will be provided in late January along with the December 2010 quarterly report.
On Tuesday PanAust shares added 10.74 per cent, to close at 0.825.
PanAust recorded a $62.36 million net profit in the first half of 2010.
