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

Results have been announced this morning, pretty meaningless as the merger is going through, but the accompanying text is the pertinent piece for shareholders and potential investors.


This transaction is near conclusion and the Group's advisers are awaiting
certain regulatory approvals prior to release of an Admission Document and the
convening of an EGM for shareholders to consider and if thought appropriate,
approve the transaction.

On publication of the Admission Document the shares will recommence trading,
which hopefully will arise as soon as the regulatory approvals are received.

RNS - Results and merger update.

Results are out, and are pretty meaningless insofar as the company will be a new entity upon return to the market.

For those wondering when that will occur, the section below is the pertinent piece.

-----


This transaction is near conclusion and the Group's advisers are awaiting
certain regulatory approvals prior to release of an Admission Document and the
convening of an EGM for shareholders to consider and if thought appropriate,
approve the transaction.

On publication of the Admission Document the shares will recommence trading,
which hopefully will arise as soon as the regulatory approvals are received.

PAf are due to return to the market soon, before the 20th June if all is correct and in order with the regulators.

There is an excellent opportunity to meet the PAF management on the 26th June, in the heart of the city for an evening presentation followed by an informal discussion session rith the management, accompanied by wine and canopes.

The Chesterfield Hotel is a first class venue, and is only a short walk from either Green Park or Bond Street tube stations.

Attendance is free, and registration is simple, click HERE!


Please note that Leyshon resources and Kalahari Minerals will also be presenting, in what should be an excellent evening for those interested in the AIM junior mining sector.

Thanks for the update Andy, however, your link doesn't work for me, have you got another I can try?

canada1,

Ok there was a typo, sorry.

It will work now.

Are you intending to attend?

Thanks Andy, link works now, don't think I'll attend, just waiting for paf to relist.

I'm booked next Tuesday!

They told me only one or two places left, and they have increased the room size !

IF PAF relist before the presentation, we will be the first to hear the news from the man himself.

Looking forward to going, hope to see others there.......

share trader,

great presentation last ight!

It can be viewed

By clicking here - enjoy

PAF aquire new project, information here

PAF have aquired a new exploration project in Ghana.

This just gets better as the moths roll by!

I doubt there will be too many sellers/top slicers on readmission day after this news personally.

agree re the top slicing - i had thought about it - but why ? - next week will be the re-list

seagullss,

I certainly won't be top slicing, the projects look worth investing in for the longer term IMO.

POG up nicely tonight, let's hope it maintains the momentum until the relisting.

SA gold production down again, around 9% last quarter!

I think there will be some decent buying when PAF relists, it's a vastly different company to the one that was suoended, and the Ghana project is the icing on the cake IMO.

PAF have relisted, and are currently trading at around 8p!

----------

For the news, click HERE

Pan African Resource Director/PDMR Shareholding

RNS Number:3446A
Pan African Resources PLC
17 July 2007



Pan African Resources plc

("Pan African" or the "Company")

Proposed Directors' Shareholding


The Company was informed on 13 July 2007 that Mr. Simon Malone, a proposed
Non-Executive Director of the Company, had purchased 1,600,000 ordinary shares
of 1 pence each in the Company ('Ordinary Shares'). Such purchases were
concluded on 9 July 2007.


Following these purchases, Mr. Malone's interest of 1,600,000 Ordinary Shares
represents approximately 0.4% of the current issued share capital.


ENDS



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


Enquiries:

Pan African Resources Ambrian Partners Limited Parkgreen Communications

Jan Nelson, CEO Richard Brown Clare Irvine
+27 (0) 11 777 7840 +44 (0) 20 7776 6417 +44 (0) 207 851 7480

Colin Bird, Chairman Richard Greenfield
+44 (0) 207 584 2155 +44 (0) 20 7776 6418








This information is provided by RNS
The company news service from the London Stock Exchange

END

Picked up a few off these at 7.66 pence this morning. Buying volume resumed again today. Director buying 1.60 million shares at 9 pence came out yesterday. Can see on the trades pages, a 1 million trade going through at 9p on 9 July 07.

GE & CR 15/7/07

Pan African


Key Data

EPIC
PAF

Share Price
7.875p

Spread
7.5p 8.25p

NMS
25,000

Total no of shares
1.08 billion

Market Cap
85.5 million pounds

12 Month Range
4.625p 8.25p

Market
AIM

Website
www.Panafricanresources.com

Sector
Mining

Contact
Jan Nelson
+27 (0) 82 494 5628


On 4th July, GE&CR added Pan African to the growing list of companies its covers. We recommended the shares at 8.5p and set a target of 11.64p.

In December 2006, Pan African Resources announced the acquisition of a 74% stake in Barberton, the owner of three South African gold mines. Its shares were suspended at this point but returned to trading on 4th July. The deal catapulted a company with an attractive development project in Mozambique into the ranks of the producers. This company boasts a strong board of directors and its partner on the ground in Africa, Pangea continues to deliver a number of other opportunities to the company Pan African has the first right of refusal on any gold project discovered by Pangea..

The acquisition of a 74% stake in Barberton Mines the rest is owned by a Black Empowerment Group brings with it three mines ( Fairview, Sheba and New Consort) which together hold a total resource of 1,845,000 ounces in the measured, indicated and inferred categories. Output in the year to June 2006 was 100,000 ounces at an average grade of 8.9g/t but output will increase by 10% this year. In the year to June 30th 2006 Barberton generated an operating profit of $9.8 million but the increased output should see that figure rise significantly from this year onwards. We have valued these mines at $75 oz for the resource. This leaves significant exploration upside potential but still values the Pan African stake at 74.4 million. The fact that it paid 35.62 million for these assets is a testimony to the attraction of Pan Africans paper and to the skill of its local partner, Pangea, in presenting attractive acquisition targets.

Potentially, as valuable to Pan African is its major asset before the Barberton transaction is the Manica project which lies on the Eastern End of the 250 kilometre long Odzi-Mutare-Manica greenstone belt which starts in Zimbabwe and has been home to a number of significant gold mines. At Manica there is a proven resource of 1,550,100 ounces of gold ounces at an average grade of 3.41g/t which can be extracted via an open pit meaning that the capital costs of the project will, we believe, be less than $50 million.

A Pre-feasibility study should be completed before the end of 2007. We have used cautious assumptions, notably a flat $500 oz gold price throughout Manicas estimated mine life of 12 years and we believe that this project alone has a Net Present Value of $86 million (45.3 million). Our model allows for no exploration upside nor for any appreciation in the gold price, which we regard as unlikely indeed we have used a cautious $500 oz gold price for the life of the mine.

At 7.875p the enlarged share capital of Pan African is valued at 85.5 million and it has 1 million of cash. We believe that the current share price fails by a significant margin to reflect our base case valuation of Manica, the Barberton assets and ignores completely the exploration potential in the Central African Republic, some recently acquired exploration assets in Ghana and the upside offered by further assets which may be introduced to Pan African by Pangea. Our target price remains at 11.64p and the stance is buy.

media comment, click HERE

I'm out for now, wouldn't surprise me if the price fell back further.

There was some mention of current production levels being lower than expected, which if true, may have a temporary negative effect.

I will be back later if circumstances permit.

News is badly needed to save this one. 6 month wait for practically nothing!!