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General Information

PanAust Limited
PNA
http://www.panaust.com.au
Diversified Metals & Mining
1,127
648

Current Price Data+

Current Price Open High Low Last Close Volume Price Movement
$1.74 $1.74 $1.74 $1.74 $1.74 2350419 $0.00 ( 0.29% )
  • +Security prices are delayed by least 20 minutes and are indicative only.

Current Broker Consensus Recommendation

Hold
17/04/2015
4

Company Overview

Business Description
PanAust Limited is involved in production and sale of copper-gold concentrate from the Phu Kham Copper-Gold Operation, Laos; production and sale of gold-silver doré from the Ban Houayxai Gold-Silver Operation, Laos and Exploration and evaluation of projects in Laos, Papua New Guinea (PNG) and Chile. PanAust is structured into three business units - PanAust Asia, PanAust South America, and Project Development.
Strategy Analysis
PanAust seeks to grow organically via development of its portfolio of copper and gold projects. Management expects a more than doubling in copper equivalent production from around 60,000 tonnes a year to around 120,000 tonnes by fiscal 2015. Successful development of the Phu Kham and Ban Houayxai mines in south east Asia add credibility. PanAust reported NPAT up 8% to US$142.27m for the year ended 31 December 2012. Revenues from ordinary activities were US$712.7m, up 24% from last year. The majority of this increase was associated with commencement of gold-silver dore sales from the Ban Houayxai gold-silver operation which started commercial production from 1 June 2012. Diluted EPS was 23.91 US cents compared to 22.28 US cents last year. Net operating cash flow was US$198.39m compared to US$239.14m last year. The final dividend declared was 4.0 AU cents, taking the full year dividend to 7.0 AU cents compared with nil cents last year.

Financial Summary

Year to Dec NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2016 F 117.0 18.3 64.3% 9.5 11.0 6.3% 0.0%
2015 F 71.2 11.2 86.1% 15.6 6.7 3.9% 0.0%
2014 A 38.2 6.0 -46.9% 31.4 3.0 1.6% 0.0%

Peer Comparison

Company Mkt Cap EPS Growth (%) P/E (%) Dividend Yield (%)
2014 A 2015 F 2016 F 2014 A 2015 F 2016 F 2014 A 2015 F 2016 F
BHP Billiton (BHP) $96,254M 0.1223 -0.3385 -0.2004 11.2079 16.9437 21.1907 4.29% 5.39% 5.42%
Iluka Resources (ILU) $3,190M -0.5350 1.1711 0.8317 53.4362 24.6124 13.4368 2.49% 3.52% 5.06%
PanAust (PNA) $1,124M 0.0000 0.0000 0.7075 0.0000 25.8955 15.1661 2.11% 0.00% 0.58%
Rio Tinto (RIO) $23,369M -0.1938 -0.4220 0.1978 8.8994 15.3969 12.8538 4.76% 5.38% 5.56%
Sims Metal Management (SGM) $2,324M 3.0215 0.7932 0.3950 33.7195 18.8038 13.4798 0.88% 2.82% 3.37%

Financial Summary

Earnings P/E Ratio P/B Ratio P/E Growth
Company 0.76 0.00 1.20 0.00
Market 0.91 16.40 1.29 2.36
Sector 0.63 13.20 0.69 1.57

Directors

Name Position Start Date
Mr Qian Deng Alternate Director 28/01/2015
Dr Frederick (Fred) Hess Managing Director 11/11/2014
Mr Garry Arthur Hounsell Non-Executive Chairman, Non-Executive Director 01/07/2008
Mrs Nerolie Phyllis Withnall Non-Executive Director 21/05/1996
Mr Geoffrey Arthur Handley Non-Executive Director 29/09/2006
Mr John Philip Crofts Non-Executive Director 17/09/2010
Ms Sally (Annabelle) Annabelle Chaplain Non-Executive Director 01/07/2012
Mr Geoff Billard Non-Executive Director 01/07/2008
Mr Zezhong Li Non-Executive Director 18/09/2009
Mr Kenneth William Pickering Non-Executive Director 28/10/2011

Management

Name Position
David Hairsine Chief Financial Officer
George Piggott Company Secretary
Paul Martin Scarr Company Secretary
Rob Usher Executive General Manager PanAust Asia
Francisco Tomic Executive General Manager PanAust South America

Substantial Shareholders

Holding Name
145,154,849 (22.78%) Guangdong Rising Assets Management Co Ltd and its wholly owned subsidiary

Calendar of Events

Date Event
18 February 2016 Report (Prelim)
28 January 2016 Report (Quarterly)
29 October 2015 Report (Quarterly)
20 August 2015 Report (Interim)
14 July 2015 Report (Quarterly)
28 April 2015 Report (Quarterly)
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