PNA 0.00% $1.84 panaust limited

a good read from last year

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    The results we are waiting on would have to do with this article from 2001----------------

    WHAT'S HOT ARTICLE 12 Mar 2001 Pan Australian seals deal in Laos

    In September 2000 Pan Australian Resources NL entered an option agreement with Normandy Anglo Pte Limited to acquire an 80% interest in Phu Bia Mining Limited. Phu Bia Mining is party to a mineral exploration and production agreement with the government of Laos. The agreement covers an area of 2,865 square kilometres, prospective for gold and copper, located 80 kilometres north of the capital, Vientiane. Today Pan Australian exercised its option. Pan Australian’s managing director, Gary Stafford said "the contract area contains a number of near surface gold and copper-gold resources that can be evaluated very quickly. There are three gold deposits where Pan Australian has identified over one million ounces in resource. Each deposit has been defined by drilling from surface to a maximum depth of 100 metres and all remain open along strike and at depth. In particular, the gold oxide cap at the Phu Kham deposit and nearby Long Chieng Track deposit hold the promise of early joint development. Whereas the Ban Houayxai deposit is only 20 kilometres away by road and may contribute to alternative development options. Immediately below the gold oxide cap at Phu Kham, there is a major copper-gold sulphide resource where strip ratios for an open pit mining operation are likely to be extremely low. This copper-gold resource contains over one million tonnes of copper and 1.6 million ounces of gold. The acquisition complements Pan Australian’s Puthep copper project joint venture in neighbouring Thailand. With these near development opportunities now secured in our portfolio, Pan Australian has the capability, in the short to medium term, of becoming a gold and significant copper producer in the South East Asian region." Pan Australian will purchase the 80% shareholding in Phu Bia Mining for US$500,000 worth of shares in Pan Australian.
 
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