PanAust (PNA) says increased production will boost its cash flow in the second half but has reduced its pre-tax earnings guidance for the year.
PanAust now anticipates earnings before interest, tax, depreciation and amortisation to be between $260-$300 million for the 2013 calendar year, below its earlier guidance for between $320 million-$350 million.
For the six months to June 30, the precious metals miner booked a net profit after tax of $US43.4 million, a 38% from its $US69.66 million profit in the previous corresponding period, as lower prices for gold, copper and silver dragged on the group.
First-half net income beat estimates, however, coming in at $38.9 million compared to analyst forecasts for $28.7 million.
Revenue for the half was $US130.48 million, 5% lower than the $US136.93 million booked in the first half of 2012.
The miner will pay an interim dividend of three cents per share, unfranked.
The company's share price fell 2.2% to $2.19 at 1022 AEST.