Business
Co. Update on Production & Exploration Results
Co. Update on Production & Exploration Results.
About this update from Pan African Resources Plc
[{"type":"text","content":"\n \nRegulatory Announcement \n \nCompany Pan African Resources plc \n \nTIDM PAF \n \nHeadline Company Update on Production & Exploration \n Results \n \nReleased 11 June 2008 \n\n Pan African Resources PLC \n\n (`Pan African' or the `Company') \n\n(Incorporated and registered in England and Wales under Companies Act 1985 with\n registered number 3937466 on 25 February 2000) \n\n Share code on AIM: PAF \n\n Share code on JSE: PAN \n\n ISIN: GB0004300496 \n\nCompany Update on Production & Exploration Results\n\nPan African announces the following updates on the exploration and production\nactivities at the Company's various projects.\n\nSouth Africa\n\nBarberton Mines have continued to operate in line with management expectations.\nAs of 30 June 2008, the mines will be un-hedged and therefore will be fully\nleveraged to the gold price. The cash flows produced by Barberton Mines\ncontinue to fund the Company's exploration activities.\n\nAt Barberton, the internal reserve replacement programs at Joe's Luck,\nZwartkoppies Deep and Consort below 50 level are progressing well. These\ninternal projects are expected to be completed within three years.\n\nIn addition, the compilation of historical drill hole, trench and geophysical\ndata by independent geological contractors has been completed and five major\nprospective exploration targets have been identified, namely; Amira, Florence &\nDevonian, Eagle's Nest, Southern Zwartkoppies and Mazepa. A geological team has\nbeen assembled to follow up these targets during the course of the next 12\nmonths.\n\nMozambique\n\nThe data required for the Pre-Feasibility study of the Manica Project has been\ncompiled and collated. The indicative results show that additional geological\nand engineering work is required to define the higher grade areas so that the\nmining plan can be optimized in terms of costs, grade and methods of extraction\nto maximise possible returns for the project. Drilling continues to the deeper\nparts of the ore body to further upgrade the resource from inferred to measured\nand indicated.\n\nThe final results of the Pre-Feasibility study are expected to be made\navailable towards the end of Q3 2008.\n\nCentral African Republic\n\nA Reverse Circulation (\"RC\") drilling program commenced at the Bogoin project\nin the Central African Republic in Q2 2008. At this ...