PNA 0.00% $1.84 panaust limited

hopes for good rush in

  1. SCD
    3,438 Posts.
    This article was posted on ozestock by getsmart...I have replied to him that it is more likely to be PNA rather than OXR as PNA has its contract area in northern Laos whilst OXR is in southern (SE) Laos. I will do some checking...

    Interesting article from Vientiane times 29/3/04 desrcibing a Russian effort to find gold near Vientiane. Also notes an Australian effort in the same area, I wonder if it could be the Ox..
    Cheers,
    Max.

    Hopes for gold rush in Sanakham

    Manichanh Pansivongsay

    A LAO-Russian Joint Venture is now conducting a feasibility survey for a gold mine on the Houyking stream in remote Sanakham district, Vientiane province. While the survey has so far produced yields below expectation, investors are hoping for a big discovery.

    According to General Director, Mr Mikhail Krivoruchenko of the Dao Lao Company, the company would invest in a gold mine in the area if the survey indicated strong potential.

    The survey so far has not proved very satisfactory. However, the firm has decided to complete the survey and remains optimistic about the mine.
    The Government gave permission for Dao Lao to do a feasibility study in the year 2000. Exploration began in 2003 and will finish in 2005. The total concession area covers about 34.7 square kilometres, according to the General Director.
    The gold mine site is located in remote jungle west of Ban Pakphang, Sanakham district. When the project began it brought development and jobs to the surrounding villages. A 13 km road was also constructed to provide access from the nearest village to the gold mine site.
    The road not only provides access to the project, but also gives locals the opportunity to transport their agricultural products to markets in town.
    It is expected that if excavation goes ahead in the area it will help boost local business development for communities nearby.

    The project is now conducting follow-up research on a survey made in the area by the Soviet Union in the 1980s. The old survey did not provide estimates of the quantity of the gold in the area. The Lao- Russian joint venture thus decided to survey the area again.

    According to the Vice Governor of Sanakham district, Mr Pasith Boradee, there was also an Australian investor conducting a gold mine survey in the area.

    The Australian company is conducting a survey on Phoupou mountain in the Namkhuan area of Sanakham district
 
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