http://moneyam.uk-wire.com/cgi-bin/articles/20050126070000PE650.html

http://www.moneyweb.co.za/mw/view/mw/en/page295799?oid=550155&sn=2009+Detail&pid=287226

19 August 2011 23:14 Pan African to list Manica separately (excerpt): Jan Nelson - CEO, Pan African Resources

Interviewer ProfileAlec Hogg is a writer and broadcaster. He founded Moneyweb and is its editor-in-chief.

Shareholders could be in for R100m bonanza.

ALEC HOGG: It's no secret that one of my favourite stocks is the Barberton gold miner, Pan African Resources. Maybe they are going to hit another golden quarry, as it was, that they hit there in the late 1800s. Who knows? Anything can happen in greenstone mining.
But today it announced that it is separately listing Manica it's Mozambican gold prospect. I asked the chief executive Jan Nelson for a little bit more information on the mine.
***

JAN NELSON: It's a greenstone gold project that outcrops on surface and it's got a total resource just short of three million ounces. Half of that is measured and indicated. It's got still quite a bit of exploration potential we've only explored about four kilometres of a total of 20 kilometres. But it also has the potential for some more for the fact that the mining could start on a much smaller scale in the short term.

ALEC HOGG: You talk about an outcrop in other words, very close to surface.

JAN NELSON: On surface, yes.

ALEC HOGG: So pretty easy then to mine.

JAN NELSON: Yes.

ALEC HOGG: I see from the detail that you actually are talking to TWP and Basil Read as coming in as partners here.

JAN NELSON: Yes, what we've done is we've appointed a new executive team for the project. And, as we've mentioned, the idea is to list it separately. One of the executive directors that will come on board is Dean Cunningham, and TWP and Basil Read are being brought on board as strategic partners to help develop the project. So I think it's all positive. They wouldnt have necessarily invested in Pan African with its other diversity assets, but in this projects specific asset thats listing separately, thats attractive to them.

ALEC HOGG: But I presume then that they would be doing the mining for you?

JAN NELSON: Well, we would think so.

ALEC HOGG: It sounds a little bit like a mining version of a Jannie Mouton youve got a project within a company, and youre separately listing it on the side. Whats the motivation here?

JAN NELSON: Alec, it's quite easy. If you look at our focus in South Africa, it's on Barberton and expanding that and we've got big organic expansion programmes going on. You know, we are looking at the tailing operations there and it's going to require another R260m of capex to process an additional 25 000 ounces. Phoenix [Platinum] is going into production and we want to expand that. And we are looking at other acquisitions in South Africa, assets that are operating at the moment. So we've got a big South African focus whereas this project, Manica, has still got quite a bit of exploration. Our major institutional shareholders and also the board dont want to spend that money on development, they'd rather spend it in South Africa. At the same time we dont want to have a project stand still. So we believed the best way to unlock value was let us focus on South Africa, lets list this separately, give it its own team, and it can go and make its own call on capital on the markets.
We will retain not a stake that will be incumbent to the company, but a smaller stake where we can also realise some further upside down the line and we can also supply them with some skills if they are required.

ALEC HOGG: Are you looking also to raise some capital for Pan African through this spin-off?

JAN NELSON: Well, we think through the spin-off, yes. We will certainly sell down a stake that we hold in the project, and we will use some of the proceeds from that stake towards our capital commitments and we could declare a special dividend to our shareholders.

ALEC HOGG: How big a project is Manica? Financially? If you list it as a separate company, how big could the cap be?

JAN NELSON: We think it could be anywhere between US$100m and $200m.

ALEC HOGG: Hows that one, Wayne? This is a company thats only worth R2bn total market cap. Not too many shareholders even knew that they had an operation in Mozambique it's such a small part of the business. Quite nice to put R700m back into the balance sheet.

WAYNE McCURRIE: Very nice, very much so, Alec. And I must say we agree with you we also like Pan African Resources a lot.

ALEC HOGG: Youve done well on it, Wayne. Unfortunately I am not a shareholder of this company, but you are and its doubled in the past year. Well, if youve made the money on this one, you certainly wouldnt be selling now.

Pan African Resources increases dividend in profitable year
StockMarketWire.com
Pan African Resources has announced annual results for the year ended 30 June 2011, showing gross revenue for gold sales increased by 15.62% to 79.2 million (2010: 68.5million).

EBITDA increased by 14.00% to 28.5 million (2010: 25.0 million).

Attributable profit increased by 20.28% to 17.2 million (2010: 14.3 million).

Earnings per share ('EPS') increased by 15.38% to 1.20p (2010: 1.04p) and headline earnings per share ('HEPS') increased by 12.15% to 1.20p (2010:1.07p).
Profit margin increased by 30.36% to US$ 584/oz (2010: US$ 448/oz)and resource inventory increased by 22.46% to 5.67 Moz (2010: 4.63 Moz).
The Group's cash balance was 10.1 million (2010: 12.8 million) at year-end.
The compnay increased Group capital expenditure by 255.93% to 21.0 million (2010: 5.9 million).
Proposed dividend has increased by 37.93% to 0.5135p per share (2010: Final dividend of 0.3723p declared).

Special Report Podcast: Jan Nelson, Pan African Resources CEO
http://www.moneyweb.co.za/mw/view/mw/en/page299360?oid=551738&sn=2009+Detail&pid=295683

A bounce up would be appreciated any time soon!

Ex-divi tomorrow, 9th Nov.

.

'Cos I sold just after the divi with a little profit! was hoping they would drop further for a better re-entry point. Damn!

.

CAUTIONARY ANNOUNCEMENT

Shareholders are advised that Pan African has entered into negotiations, which
if successfully concluded may have a material effect on the price of the
securities of the companies. Accordingly, shareholders are advised to exercise
caution when dealing in the Company's securities, until a full announcement has
been made.

Rosebank

17 November 2010

These are isable 'Arry......you can buy and sell at will in there...I'm in more by luck than anything else !...

Pan African announces that the following issue of Pan African ordinary shares
of 1p each ("Shares") has been made, following the exercise of share options
granted under the Company's share option plan:

* 723,650 Shares were issued at a price of ZAR0.83 per Share, for a total
consideration of ZAR600,629.50

Application will be made today, to the AIM market of the London Stock Exchange
("AIM") and to the Main Board of JSE Limited ("JSE") for 723,650 shares to be
admitted to trading on AIM and for listing on the JSE, with admission to
trading and listing on both markets expected to occur on 1 December 2011.

Following the above issues of shares, the total issued share capital of the
Company comprises 1,444,964,361 Shares.

Pan African, the African focused precious metals producer, is pleased to
announce it has successfully commissioned the Phoenix platinum project
(`Phoenix') Chrome Tailings Retreatment Plant (`CTRP') and signed a sale of
Platinum Group Metal (`PGM') concentrate agreement with Lonmin plc's operating
subsidiary in South Africa, Western Platinum Limited (`WPL').

Summary
* Phoenix has concluded a sale of PGM concentrate agreement with WPL for a
five year period

* The CTRP produced its first PGM concentrate two months ahead of schedule

* Planned production for Q3/Q4 (FYE 30 June 2012), taking into consideration
a build-up phase, is estimated to be 4,500 ounces of PGM's

* Planned production on an annualised basis is estimated to be 12,200 ounces
of PGM's (240,000 tonnes per annum at an average feed grade of 3.15 g/t)

* The CTRP has a project life of 17 years

Tempted to buy at this price. Seems to be good chart support.

Renewal of Cautionary Announcement
PRNW
Pan 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: PAF Share code on JSE: PAN ISIN: GB0004300496 (`Pan African' or the `company') FURTHER CAUTIONARY ANNOUNCEMENT Further to the cautionary announcement dated Thursday, 17 November 2011, shareholders are advised that negotiations are still in progress, which if successfully concluded may have a material effect on the price of the securities of the company. Accordingly, shareholders are advised to exercise caution when dealing in the company's securities, until a full announcement has been made.

I like this company :-)
25 January 2012
Pan African Resources PLC
("Pan African" or the "Company")

(Incorporated and registered in England and Wales under Companies Act 1985 with

registered number 3937466 on 25 February 2000)
Share code on AIM: PAF
Share code on JSE: PAN
ISIN: GB0004300496
TRADING STATEMENT

In terms of paragraph 3.4(b) of the Listings Requirements of JSE Limited, a listed company is required to publish a trading statement as soon as it is satisfied that a reasonable degree of certainty exists that the financial results for the period to be reported on next, will differ by at least 20 per cent from those of the previous corresponding period.

The Company advises shareholders that the earnings per share and headline earnings per share for the six months ended 31 December 2011, denominated in Pound Sterling ("GBP"), are expected to be between 83 per cent and 93 per cent higher than the 0.53 pence per share generated for the six months ended 31 December 2010. Earnings per share and headline earnings per share, calculated in South African Rand ("ZAR"), using the average ZAR: GBP exchange rate of 12.06 that prevailed during the six months ended 31 December 2011, are expected to be between 97 per cent and 107 per cent higher than the comparable period's 5.97 cents per share at an average ZAR: GBP exchange rate of 11.18.

The financial information for the six months ended 31 December 2011 and contained in this trading statement has neither been reviewed nor reported on by the Company`s auditors. Pan African is currently finalising its unaudited results for the six months ended 31 December 2011 and it is anticipated that they will be released on 22 February 2012.

Pan African is incorporated in England and Wales under Companies Act 1985 and accordingly its presentation currency is GBP.

For further information on Pan African Resources plc, please visit the website at www.panafricanresources.com


Enquiries
South Africa UK

Pan African Resources RBC Capital Markets


Jan Nelson, Chief Executive Officer Martin Eales / Peter Barrett-Lennard

+27 (0) 11 243 2900

Pan African and Witwatersrand Consolidated Gold Resources have formed a 50:50 partnership to acquire 100% of gold producer, Evander Gold Mines from Harmony Gold £139m.

The Evander operations are located in Mpumalanga, South Africa, and comprise the operating Evander 8 shaft, and several potential development projects namely Rolspruit, Poplar, Evander South, Libra (surface tailings resource) and the Kinross metallurgical processing plant, and a tailings facility (Project Libra).

The total underground resource represents 32.5Moz (147Mt @ 6.88g/t)2 and a reserve of 7.6Moz (29.5Mt @ 8.02g/t).

The Evander 8 shaft currently has an expected life of mine of more than ten years.

Evander is expected to produce between 85,000 and 95,000 ounces per annum.

Pan African chief executive Jan Nelson said: "Evander meets our investment criteria in all aspects and has the same ability to yield high margins as our Barberton mining operations.

"The Evander 8 Shaft orebody has gold grades in excess of 14g/t in the measured and indicated resource category, an extremely experienced management team and workforce, as well as good infrastructure."



At 2:20pm: (LON:PAF) Pan African Resources share price was -0.75p at 16.75p

http://www.mineweb.com/mineweb/view/mineweb/en/page34?oid=144438&sn=Detail&pid=102055
Harmony's Evander sale game changer for Wits Gold and Pan African


Harmony Gold is to sell its Evander gold mining operations to a JV of Pan African Resources and Wits Gold for .$216m.
Author: Geoff Candy
Posted: Monday , 30 Jan 2012

GRONINGEN -

Pan African Resources and Wits Gold have joined forces to buy Harmony's entire interest in the Evander project from Harmony Gold for R1.7bn ($216m).

For Pan African Resources the deal adds 50 000 ounces of attributable gold production per year to the company as well as another 34m ounces in terms of a project pipeline that can be fairly quickly developed.

According to Jan Nelson, Pan African CEO, the deal also provides access to an attractive partnership with Wits Gold. "One of the issues for junior gold miners is access to skills and this transaction gives us access to their skills sets."

Speaking on a conference call earlier in the day, Nelson added that there have been a lot of questions asked of late about how junior miners in South Africa are likely to grow. This deal, which he says is a first in the South African mining space, is a very good answer to that question.

For Wits Gold, the transaction is even more of a game changer. According to CEO, Philip Kotze, it turns the exploration company into a producer overnight.

"This is a very exciting time for us," Kotze said on the conference call, we signalled the market in September last year that we wanted to become a producer, and this does it for us."

He added that, the some of the cashflows from their portion of the Evander project could also be used to fund the building of a mine at the group's BDM project. And, while it doesn't make as much of a differnce to its resource base as it does to Pan African, it does increase the group's reserve base significantly.

For Harmony, the sale represents the end of a significant turn-around at the asset following a restructuring process that has taken the better part of 3 years.

As CEO Graham Briggs explained, three years ago the operation was running the numbers 2,5, 7 and 8 shafts. "those operations were really looking at remnant pillars mainly from operations, relatively difficult infrastructure, fairly old infrastructure from an equipment point of view and the grade that they were getting out of that was in the region of 3.5, 4g/tonne at most and with gold prices where they were, we decided to restructure the whole operation.

All but the number 8 shaft have now been closed down and that has been refocused to mine the declines and, currently, the operation has a mine life of around 10 plus years.

But, according to Briggs, if money is invested in the project, the operation has a life of 50-plus years.

Nelson and Kotse, who have both worked at the Evander operations during their career are very positive about the prospects for the mine with Nelson going so far as to say he believes it to be even better than Harmony's Wafi Golpu asset, although there was an element of tongue about his cheek when making that comment.

But, he says, " The Evander 8 Shaft orebody has gold grades in excess of 14g/t in the measured and indicated resource category, an extremely experienced management team and workforce, as well as good infrastructure, I don't know where else in Africa you can find that."

In terms of the management of the mine iteself, Nelson explained the plan was too keep a fairly hands off approach and let the management that is already in place take most of the reins.

When asked, which of the two partners would be in control, he answered that, "the moment one party has more control than the other, that is when the problems begin."

The deal is structured so that the consortium will make an initial payment of R1.4bn (R178m) on the closing date of the transaction. This Kotze says could be as late as sometime between October and December. the effective date for the transaction, however, is the 2nd of April. This means as much as R200m could be deducted from the price in the form of dispersments by Evander in the intervening period.

After the closing date, the consortium will pay four equal quarterly amounts of R25m ($3.18m) (. And, the remaining R200m ($25.5m)will be paid in two equal tranches, the first 19 months after the closing date, if the average rand gold price for the preceding 12 month period is greater than R410,000 per kilogram (US$1,700 per ounce.

The second tranche is payable, 31 months after the original closing date, if the average rand gold price for the preceding 12 month period is more than ZAR450,000 per kilogram (US$1,865 per ounce).

Approval granted for Phase One of the Barberton Tailings Retreatment Project

and the acquisition of Harper Tailings Operations

Pan African is pleased to announce that the board of directors has approved
Phase One of the Barberton Tailings Retreatment Project ("BTRP") which will
recover gold from the retreatment of the gold tailings situated close to the
Barberton Gold Mining Operations ("Barberton"). It is anticipated that the BTRP
will increase the production profile at Barberton from 95,000oz to 120,000oz
per annum.

Highlights

- The BTRP comprises a total resource of 654koz (13.7Mt @ 1.38g/t) and a
reserve of 248koz (13.7Mt @ 0.56g/t)

- A Capital Cost Estimate ("Capex") of GBP27 million (ZAR325 million) has been
approved for Phase One of the BTRP in order to retreat 1.2Mt per annum of gold
tailings over a six year life, funded from internal cash flows

- Over the life of Phase One of the project, a total of 160koz will be
recovered (which includes 120koz from tailings and another 40koz from current
underground arisings to be retreated)

- At a gold price of ZAR400,000 per kilogram the project has a net present
value ("NPV") of GBP27 million (ZAR325 million)

StockMarketWire.com
Pan African has approved Phase One of the Barberton Tailings Retreatment Project ("BTRP") which will recover gold from the retreatment of the gold tailings situated close to the Barberton Gold Mining Operations.

It is anticipated that the BTRP will increase production at Barberton from 95,000oz to 120,000oz per annum.

Gone Long on PAF this morning:

*Gold Producer in South Africa
*Fab long term uptrending chart Jan 2009
*Stochs/RSI oversold and both indicator's turning up
*MACDs under 0 with the faster line about to cross slower
*ATR being exhausted suggesting bear's running out of steam
*ADX at 20 suggesting trend downwards weakening
*Sitting on 50 day EMA/lower of the Bolli Bands

Great Week All