Takeover target PanAust Limited (ASX:PNA)
says it is considering its latest takeover bid while also reporting increased production and reduced costs in the March quarter.
The copper and gold miner has also forecast annual copper production from its Phu Kham mine in Laos to grow almost 25 per cent over the next several years.
PanAust expects annual copper output to peak in 2018 and 2019 at about 90,000 tonnes without further investment.
The news comes after PanAust last week scored a $1.11 billion takeover offer from one of its largest shareholders, Guangdong Rising Assets Management.
PanAust reported a net loss of $270 million in the 2014 calendar year.