Pan African Resources Plc - Pan African announces successful commissioning of the Mogale Tailings Retreatment (MTR) operation
31 Oktober 2024 - 8:00AM
UK Regulatory
Pan African Resources Plc - Pan African
announces successful commissioning of the Mogale Tailings
Retreatment (MTR) operation
PR Newswire
LONDON, United Kingdom, October 31
|
Pan
African Resources PLC
(Incorporated
and registered in England and Wales under the Companies Act 1985
with registered number 3937466 on 25 February 2000)
Share code
on AIM: PAF
Share code
on JSE: PAN
ISIN:
GB0004300496
ADR ticker
code: PAFRY
(`Pan
African' or the `Company' or the `Group')
|
Pan
African Resources Funding Company Limited
Incorporated
in the Republic of South Africa with limited liability
Registration
number: 2012/021237/06
Alpha
code: PARI
|
Pan
African announces successful commissioning of the Mogale Tailings
Retreatment (MTR) operation
The MTR
operation was successfully commissioned in early October 2024 with an inaugural gold pour at the
plant's smelting facility. Ramp-up is in progress, with
steady-state production and plant throughput of 800ktpm expected by
December 2024. This US$135.1 million project was delivered under
budget and ahead of schedule, with construction completed in only
14 months. During the construction phase, MTR employed over 1,600
workers on site and achieved completion of construction with zero
lost-time injuries for the 1.5 million man hours worked.
Cobus Loots, Pan African's CEO, commented:
"Pan
African has established an enviable track record in executing
world-class tailings retreatment projects.
We are
pleased to announce the successful commissioning of the MTR
operation in October 2024, ahead of
schedule and below budget. MTR is expected to supplement our
current production profile by more than 50koz/yr at an AISC of
approximately US$1,000/oz, with a
life-of-mine of more than 20 years if we include reserves from our
Soweto tailings
cluster."
Johannesburg
31 October 2024
For
further information on Pan African, please visit the Company's
website at:
www.panafricanresources.com
|
Corporate
information
|
|
Corporate
office
The Firs
Building
2nd Floor,
Office 204
Cnr.
Cradock and Biermann Avenues
Rosebank,
Johannesburg
South
Africa
Office: +
27 (0)11 243 2900
info@paf.co.za
|
Registered
office
2nd
Floor
107
Cheapside
London
EC2V
6DN
United
Kingdom
Office: +
44 (0)20 3869 0706
info@paf.co.za
|
|
Chief
executive officer
Cobus
Loots
Office: +
27 (0)11 243 2900
|
Financial
director and debt officer
Marileen
Kok
Office: +
27 (0)11 243 2900
|
|
Head:
Investor relations
Hethen
Hira
Tel: + 27
(0)11 243 2900
E-mail:
hhira@paf.co.za
|
Website:
www.panafricanresources.com
|
|
Company
secretary
Jane
Kirton
St
James's Corporate Services Limited
Office: +
44 (0)20 3869 0706
|
Nominated
adviser and joint broker
Ross
Allister/Georgia Langoulant
Peel
Hunt LLP
Office:
+44 (0)20 7418 8900
|
|
JSE
Sponsor and JSE debt sponsor
Ciska
Kloppers
Questco
Corporate Advisory Proprietary Limited
Office: +
27(0) 63 482 3802
|
Joint
broker
Thomas
Rider/Nick Macann
BMO
Capital Markets Limited
Office:
+44 (0)20 7236 1010
|
|
|
Joint
broker
Matthew
Armitt/Jennifer Lee
Joh.
Berenberg, Gossler & Co KG
Office:
+44 (0)20 3207 7800
|
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