Tuesday, 22nd March 2005 (3158 views)

Pan Australian Resources has announced it will pour its first gold in early May from a project in Laos.

The project worth $15.3 million is progressing well and the Brisbane based company expects to complete a feasibility study by August on another project to boost figures further, according to the Herald Sun.

"We'll ramp up over a period of about three months and, by the September quarter, we'll be at full capacity," Gary Stafford from Pan Australian told Reuters, on the sidelines of the 2005 Asian Mining Congress, referring to the gold project.

In addition, the firm is also expected to sign a contract shortly to refine gold at the Perth Mint in Western Australia.

The firm is the second Australian miner to develop a project in Laos.

 

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