31st July - 125th SMC presents an Asian and Arabian Double:

Gary Stafford, MD of PanAust Limited and Ines Scotland, CEO of the Citadel Resource Group
These two stories focus on the successful acquisition and development of significant resource projects in two quite different parts of the world, Laos and Saudi Arabia, and illustrates the value chain from exploration through to project commissioning.

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.

Citadel listed in late 2007 and hopes to take its first project at Jabal Sayid (copper-gold) into production by mid-2011 and has a number of other projects under assessment which could provide a number of additional mines in the future.

Doing business in Saudi Arabia is proving to be attractive for mining companies, as Ines Scotland will explain and Laos has proved to be an excellent place to do business as Gary Stafford will confirm.

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