Pan African is a gold mining company that produces approximately 100,000oz per year.
Its focus is on developing low cost, high margin production or near production projects. The Company has no debt, is unhedged and is able to fund all of its current on-mine capital from current cashflows.
The recent acquisition of Phoenix Platinum Mining (Pty) Ltd (Phoenix Platinum) does not change the gold focus of the Company. Preliminary sampling and recovery results have exceeded expectations and management’s proactive actions could see plant construction as early as the first half of 2010, with production likely in first half of 2011. However, this production outlook is sensitive to management’s ability to secure plant location. |
