Operational Update quarter ended 30/09/18

About this update from Pan African Resources Plc

[{"type":"text","content":"\n \nPan African Resources PLC\n\n(\"Pan African\" or “the company\" or “the group”)\n\n(Incorporated and registered in England and Wales under Companies Act 1985 with registered number 3937466 on 25 February 2000)\n\nShare code on AIM: PAF\n\nShare code on JSE: PAN\n\nISIN: GB0004300496\n\nOPERATIONAL UPDATE FOR THE QUARTER ENDED 30 SEPTEMBER 2018    \n\nPan African is pleased to provide an operational update for the first quarter of the 2019 financial year (“this quarter” or “first quarter”), and further information on the performance of the Elikhulu Tailings Retreatment Plant (“Elikhulu”).\n\nPan African CEO Cobus Loots commented:\n\n“Pan African recorded a commendable safety and production performance for the first quarter of the 2019 financial year. The group produced 37,729oz of gold during the quarter, and with Elikhulu now commissioned and running at design capacity, we are confident of achieving our production guidance of approximately 170,000oz for the 2019 financial year.\n\nElikhulu ramped-up to its design capacity of 1-million tonnes per month during October 2018, ahead of the original schedule and on budget. Average gold recoveries achieved were consistent with our forecasts, with further optimisation of recoveries expected in the short term. The incorporation of the Evander Tailings Retreatment Plant (“ETRP”) into Elikhulu, which will increase Elikhulu’s capacity to 1.2-million tonnes per month, is progressing on schedule, with full commissioning expected to be completed by January 2019.\n\nBarberton Mines is on track to meet its full-year production guidance of 100,000oz, with the underground operations’ production benefitting from Fairview Mine’s high-grade 272 and 358 platforms, and the newly installed regrind mill at the Barberton Tailings Retreatment Plant (“BTRP”) performing as anticipated.\n\nAt Evander Mines, we have commenced mining and vamping of the remnant high-grade stopes as part of the phased closure of the underground mining operations as an initiative to supplement Evander Mines’ production, while commencing with the equipping and preparatory work to advance the mining of the 8 Shaft pillar and high-grade areas in proximity to the pillar. The first phase of the equipping and preparatory work is expected to be completed in the third quarter of the ...

More updates from Pan African Resources Plc