Pan Asia Mining Limited announced that based on the preliminary assessment by the Board of the information of the company currently available, which has neither been reviewed by the audit committee of the company nor audited by the auditors of the company and its subsidiaries, the Group is expected to report a substantial increase in loss for the financial year ended 31 March 2012 as compared with the loss reported for the corresponding period in 2011. The substantial loss is mainly attributable to a probable substantial amount of impairment provision to be made to the exploration and evaluation assets in respect of the mining tenements in The Philippines as at 31 March 2012.