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

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!!

8 month wait for nothing !!

Media article, click HERE

Drilling update Click HERE

This share would test the patience of a saint. One step forward then two steps back with this one. No interest in this Company at all, even with some good drilling updates!!

Full YEAR results are out, in what it seems a cracking one. Talking about valuation then....... the stock looks on the cheap side on EPS of 0.52p the PE drops to 7.2

SALIENT FEATURES
- EBITDA of 13,7 million
- Gold sales of 99,078 oz
- Total cash cost of US$ 476/oz sold
- Acquisition of Barberton Mines
- Now an unhedged gold company
- Considerable progress and encouraging results from exploration projects
- Geological footprint in West Africa enhanced through the acquisition of three
gold properties in Ghana


FINANCIAL PERFORMANCE
12 months..................... June 2008 -------- June 2007

Revenue (GBP) ......... .... 39,254,557 ---- 26,684,796

Cash Mining Profit (GBP) 13,710,819 ------- 5,804,036

Attributable profit (GBP) 5,460,067 --------- 2,067,985

EPS- Earnings per share (p) 0.52 ----------- 0.35

Weighted average number of 1,043,789,285 ----- 593,740,476

New article and analysis, click HERE

Excellent article, IMO, HERE

Looks to have broken the downtrend and started turning up.

Results on the 24th Feb and looking for the Manica Pre Feasibility study and a resource upgrade there.

Plenty of drill results due from several projects !!!

9th Feb 2009

Pan African Resources acquires option to purchase Phoenix platinum

Pan African Resources (`PAR') today announces that it has acquired an
exclusive, non-refundable option to purchase 100% of the shares in Phoenix
Platinum Mining (Pty) Limited (`Phoenix') from Metorex Limited (`Metorex').

This option enables PAR to conduct a four month due diligence on the existing
technical information, which will provide the company with the necessary
information to determine the viability of Phoenix.

The option, at a cost of US$1 million, is payable immediately and can be
exercised at any stage within the next four months. The cost of the option, if
exercised will be deducted from any agreed purchase price. Should PAR exercise
the option, the transaction will constitute a 'related party transaction' under
the AIM Rules and will require a fair and reasonable opinion from the Company's
Nominated Adviser, RBC Capital Markets.

Phoenix owns certain rights to the contained PGM's from both surface tailings
dump and current arising from operating mines within the Bushveld igneous
complex.

CEO, Jan Nelson noted, "In the current market we are pleased to have the
opportunity to review this project, which could result in cash generation to
finance further acquisitions. The platinum project is envisaged to have low
capital development costs with attractive margins."

ENDS

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

CEO interview, click HERE

Seems to be attracting attention now, sp climbing and steady volume. Found this from Sept.1st.

Pan African shares rise as gold junior exits exploration, focuses on mining
By: Martin Creamer
1st September 2009 JOHANNESBURG (miningweekly.com) The shares of gold junior Pan African Resources rose on the JSE on Tuesday after it announced that it had exited exploration and had become a growth-orientated gold producer with near-term platinum production assets.

"We are focusing on production and projects that are very close to production, and see potential to increase profit by 50% in 18 months," Pan African CEO Jan Nelson told Mining Weekly Online.

The company, also listed on London's Aim and now chaired by Cyril Ramaphosa, is fully empowered, with Ramaphosa's Shanduka the 26% black economic-empowerment partner at holding company level.

Since the exit of Metorex, Pan African now owns 100% of the Barberton mines of Fairview, Sheba and New Consort, which lifted underground production by 15% and increased their reserve base. Earnings before interest, tax, depreciation and amortisation rose by 30%, after the company sold 97 500 oz of gold for R760-million in the 12 months to June 30.

Nelson said that steady state production at Barberton would be between 95 000 oz/y and 100 000 oz/y, with the potential possibly to grow the production profile to 120 000 oz/y.

Costs rose 12% at Barberton compared with the current mining inflation of between 15% and 20%.

Nelson expected the newly acquired Phoenix Platinum project to begin producing 10 000 oz to 15 000 oz in early 2011.

"We've exited from out exploration assets and don't have that exploration expenditure any more," Nelson said at the results presentation.

The Barberton mines are considered low cost and high margin and new CFO Cobus Loots said that the debt-free, unhedged Pan African had sufficient free cash flow to fund the development of the also low-cost, high-margin and near-production Phoenix, plus the "financial firepower to follow through on opportunities".

On the strong rand, Nelson said: "There is nothing we can do about the rand and the gold price, but what we can do is focus on more production and cost control and that's what we are doing.

"We have a significant margin at the Barberton mines of close to 35% and that margin has been widening.

"The margin at the Barberton operation is significant. Even if there is a depression in the effective price and you focus on costs, you can weather the times when it does get more difficult. If we include capital cost, our cost is around R145 000/kg, but if we were to take the capital out, we could go down to about R110 000/kg," Nelson told Mining Weekly Online.

"We're looking to an increase in the resource and reserve base at Barberton, and the same or more profit in the new financial year, because 100% of Barberton is now attributable to us.

"The Phoenix platinum tailings plant comes on line in18 months and the company was looking at additional opportunities," Nelson said.

The greenstone Barberton gold mines have a ten-year life-of-mine, which Pan African is looking to extend to 15 years, and Phoenix has a five-year life from the current surface tailings on the mine, and from 12 to 15 years with underground arisings.

The Barberton greenstone belt has produced some 11-million ounces of gold over the years and the three mines that Pan African owns have produced close to eight-million ounces of that.

Nelson told Mining Weekly Online that, when Phoenix added its expected after-tax profit, the Barberton mines plus Phoenix had the potential to together yield a $25-million profit, which could materialise in the next 18 months.

"That takes profit from $15-million to $25-million in 18 months. With the growth from Barberton and the potential at Phoenix, that profit can rise to $35-million a year in time, and we are also looking at acquisitive growth.

"That's significant growth for a company of our size, to virtually increase profit by 50% in 18 months.

"In term's of profitable resource ounces, we are looking to grow that business to 120 000 oz a year, but that can only be done in the next three to four years. A lot of development and equipping still has to take place.

"Phoenix will allow us to take advantage of many other opportunities. We are looking to acquire additional projects that are close to production, or that are in production," Nelson told Mining Weekly Online.

Pan African mining operations executive Mario Gericke said that the focus was on increasing the company's resource base and, in time, the reserve base.

Once that was done, the company would deal with the capacity constraints, like hoisting capacity, to allow the organic growth to a possible 120 000 oz/y at Barberton.

Phoenix Platinum operational manager Ron Holding said that the company was striving to get the Phoenix plant in operation as fast as possible; assure optimal recoveries; and then grow through transactions with other companies that have metals tailings.

"We are empowered at the top level, we don't have to find the empowerment and Shanduka has the ability to invest money and the cash can be used to seal other opportunities, and that's the advantage that we have," said Nelson.

"Barberton is the engine and if we don't look after our assets in Barberton, everything else will fall flat. We have to look at organic growth at Barberton and, if you look at the orebody, you see that those opportunities are available, but there is a lot of work to do, and we have to keep on focusing on cost control and production increases," he added.

"Phoenix is a low capex, quick-return project and, if that business grows, great, it just adds money for our future growth aspirations," he added.

Nelson continued to hold out hope for the Manica gold prospect in Mozambique, where the company was adopting a systematic step-by-step approach.

During August 2009, Barberton Mines reached two-year wage agreements with both the National Union of Mineworkers (NUM) and the United Association of South Africa (UASA). The percentage increases came to 13% for NUM and 11% for UASA. The second year increase will be the average consumer price index plus 1% with a guaranteed minimum of 7,5%. The company and unions will also return to the negotiation table if the gold price falls below R190 000/kg.

Think I might have a punt. BB

last friday was in investors chronicle as undervalued recmmended buy bought them yesterday and is up today

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Proactive Investors One2One Forums


The directors of Pan African Resources (AIM: PAF), Chaarat Gold (AIM: CGH), Discovery Metals (AIM: DME) and LonZim PLC (AIM: LZM) will be presenting:

Thursday the 26th November 2009

Chesterfield Mayfair Hotel, 35 Charles Street, Mayfair, W1J 5EB

The presentations will start at 6:00pm and finish at approx 8:00pm.

After the presentations are complete the directors will also be available to take questions during a free canapand wine reception.

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