Pan African Resources Plc · LSE:PAF
Pan African Resources — FY2008 Earnings Presentation
16 slides from Pan African Resources's earnings presentation, Aug 18, 2008
Slide 1: Annual Results 30 June 2008
ANNUAL RESULTS 30 June 2008 THE MID-TIER GOLD PRODUCER & EXPLORER Presentation booklet - FINAL LAYOUT.indd 1 18/08/2008 20:40:28
Slide 2: Geographic Location
GEOGRAPHIC LOCATION Presentation booklet - FINAL LAYOUT.indd 2 18/08/2008 20:40:31
Slide 3: Contents
CONTENTS 1. Strategic Overview 1 2. Salient Features 2 3. Results 3 4. Review of Mining Operations 5 5. Review of Exploration Projects 7 6. Outlook 12 Notes: Presentation booklet - FINAL LAYOUT.indd 3 18/08/2008 20:40:31
Slide 4: Strategic Overview
STRATEGIC OVERVIEW • Gold mining company with exploration upside • Focus on On-Mine and Greenfield exploration • Actively seek partnerships and Joint Ventures where we can add mining expertise to projects and gain a strategic stake in future production • Exploration projects are funded by cash flow
Slide 5: Salient Features
SALIENT FEATURES • EBITDA of £ 13.7 million • Total cash cost of US$ 476/oz • Considerable progress and encouraging results from exploration projects • Geological footprint in West Africa enhanced through the acquistion of three gold properties in Ghana Notes: 2 Presentation booklet - FINAL LAYOUT.i
Slide 6: Results: Attributable Profit and Total Cost vs Gold Price
RESULTS ATTRIBUTABLE PROFIT / (LOSS) 6,000 5,000 4,000 GBP 3,000 (000) 2,000 Acquisition of Barberton Mines 1,000 0 -1,000 18 Months to 31 15 Months to 30 12 Months to 30 March 2006 June 2007 June 2008 TOTAL COST VS. AVERAGE GOLD PRICE RECEIVED (US$/oz) 1000 800 US$/oz 600 400 Acquisition of Barbert
Slide 7: Results: Capital & Exploration Expenditure
RESULTS CAPITAL & EXPLORATION EXPENDITURE Total: GBP 6,068,126 24% 19,936m 7,167m 47% 21% 10,262m 8% 6,577m Barberton Mines Ghana CAR Manica Shown as % per project with metres drilled Notes: 4 Presentation booklet - FINAL LAYOUT.indd 4 18/08/2008 20:40:34
Slide 8: Mining Operations: Production Cost Breakdown
REVIEW OF MINING OPERATIONS PRODUCTION COST BREAK DOWN Total: GBP 25,163,676 7% 9% 24% 12% 48% Electricity Production Dump Salaries Other Cost Reclamation & Wages RESERVE REPLACEMENT PROJECTS Project Name: Metres Developed: Sheba - Southwell Adit 75.0 m Sheba - 35 ZK Decline 126.0 m Sheba - Edwin Br
Slide 9: Capital Expenditure of Barberton Mines
REVIEW OF MINING OPERATIONS CAPITAL EXPENDITURE OF BARBERTON MINES (excludes surface exploration programme) 3,000 2,500 2,000 GBP (000) 1,500 1,000 500 0 2004 2005 2006 2007 2008 Notes: 6 Presentation booklet - FINAL LAYOUT.indd 6 18/08/2008 20:40:35
Slide 10: Exploration Projects: Resource Growth
REVIEW OF EXPLORATION PROJECTS RESOURCE GROWTH (Gross In Situ) 4,000 3,500 3,000 Acquisition of oz (000) 2,500 Barberton Mines 2,000 1,500 1,000 500 0 26 July 13 October 2 February 20 June 10 September 10 March 2005 2005 2006 2006 2007 2008 Manica Barberton Notes: 7 7 Presentation booklet - FINAL LA
Slide 11: Exploration Projects: Manica, Mozambique
REVIEW OF EXPLORATION PROJECTS MANICA, MOZAMBIQUE Mineral Resource (gross in situ) 1,701Moz (11,45Mt @ 4.61g/t) Exploration Expenditure (2008) US$ 2,95 million (US$ 1,74/oz) Future Planned Expenditure US$ 500,000 Work Completed • 19,936m of drilling • Geological modelling and resource estimation Wor
Slide 12: Exploration Projects: Barberton, South Africa
REVIEW OF EXPLORATION PROJECTS BARBERTON, SOUTH AFRICA Notes: 9 9 Presentation booklet - FINAL LAYOUT.indd 9 18/08/2008 20:40:39
Slide 13: Bogoin & Dekoa, Central African Republic
REVIEW OF EXPLORATION PROJECTS BOGOIN & DEKOA, CENTRAL AFRICAN REPUBLIC Mineral Resource (gross in Resource definition underway situ) Exploration Expenditure (2008) US$ 2,0 million Future Planned Expenditure US$ 4,7 million (Total Joint Venture: US$ 9.4 million) Work Completed To date 10,262m of dri
Slide 14: Akrokerri, Kyereboso & U&N, Ghana
REVIEW OF EXPLORATION PROJECTS AKROKERRI, KYEREBOSO & U&N, GHANA Mineral Resource (gross in situ) Resource definition underway Exploration Expenditure (2008) US$ 590,000 Future Planned Expenditure US$ 1,5 million Work Completed • Completed IP geophysical programme • Completed DP-DP geophysical pro-
Slide 15: Outlook
OUTLOOK • Sustained profitability • Continue to advance exploration projects with the cash flow from Barberton Mines • Develop a balanced prospective portfolio of grassroots to advanced exploration projects • Project advance criteria - low end of the cost curve • Actively seek joint ventures and par
Slide 16: Disclaimer
DISCLAIMER • The contents of this presentation and the information which you are given at the time of these slides and the presentation have not been approved by an authorised person within the meaning of the Financial Services and Markets Act 2000 (the “Act”). Reliance on this promotion for the pur