Business
Evander Fatality & Shaft Refurbishment Prog...
Evander Fatality & Shaft Refurbishment Prog....
About this update from Pan African Resources Plc
[{"type":"text","content":"\n \nPan African Resources PLC(Incorporated and registered in England and Wales under Companies Act 1985 with registered number 3937466 on 25 February 2000)Share code on AIM: PAFShare code on JSE: PANISIN: GB0004300496(“Pan African†or the “Companyâ€)\n\nEVANDER GOLD MINING PROPRIETARY LIMITED (“EVANDERâ€) FATALITY AND SHAFT REFURBISHMENT PROGRAMME\n\nFATALITY\n\nIt is with deep regret that Pan African reports that a mining accident occurred at the Evander 7 shaft complex on 15 February 2017. Mr Velile Chaplin Kapa (54), an Engineering Assistant employed by the operation, sustained a fatal head injury when a section of the main shaft pump column failed whilst he was working in the shaft bottom area. Pan African’s management and board express their sincere condolences to the family, friends and colleagues of Mr Kapa.\n\nSHAFT REFURBISHMENT PROGRAMME\n\nShareholders are referred to the Trading Update, released on 5 December 2016, in which Pan African, inter-alia, disclosed details of the refurbishment programme being conducted at Evander’s 7A shaft.\n\nIn conjunction with the 7A shaft refurbishment programme, Evander’s management initiated a number of independent and internal engineering studies to assess the condition of Evander’s underground mining infrastructure (both Evander 7 and 8 shafts). These studies identified critical infrastructure issues requiring remedial action, to ensure safe and sustainable operation of these shafts.\n\nThe nature of these refurbishments require a suspension of Evander’s underground mining operations for a period of up to 55 days, during which critical infrastructure issues will be addressed. Evander’s tailings and surface operations will be unaffected by the underground mining suspension.\n\nThe cost of the shaft refurbishment programmes is expected to be approximately R40 million, which will be funded from the Company’s existing banking facilities. \n\nIn light of these recent developments, Pan African has revised its gold production guidance for the financial year ending 30 June 2017 from 195 000 ounces to approximately 181,000 ounces.\n\nPan African’s interim results for the period ended 31 December 2016 will be released on 22 February 2017. Further detail on the Evander underground refurbishment programme will be made available as pa...