PanAust commenced work exploring and developing the Phu Kham gold and copper deposits in Laos in 2001 and its flagship project commenced production of copper concentrates at the end of April after a construction program than came in on budget (US$240M) and ahead of schedule.
PanAust is already planning to expand Phu Kham from a mining rate of 12Mtpa to 16Mtpa by 2010 and has an active exploration program in Laos and another copper project under study in Thailand.
The company has progressed from where Citadel sits today (commencing feasibility) to a significant producer (60,000tpa Cu) and has a market capitalisation in excess of $1.7 billion, more than five time Citadel's current value.
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