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Pan African Resources
A CPI rate of 5.0% for the initial three-year period, the wage increases will result in an average annual increase of approximately 5.4%.
“We view the granting of the mining right renewals by the DMRE for a 30-year period as an endorsement of our efforts and operations."
FY 2021 production guidance increased to ca. 195,000 oz for the FY ending 30 June 2021, exceeding the previous guidance of ca. 190,000 oz.
The project is expected to contribute an average of 30 000 oz/pa of gold production over the next three financial years.
"This is integral to the Group’s purpose of “Mining for a Future” and pursuing ESG initiatives that go beyond compliance."
Mid-tier gold producer Pan African Resources has entered into an agreement to acquire historic gold tailings assets owned by Mintails Mining, which was placed in provisional liquidation in 2018.
Pan African Resources is making investing in its shares more accessible to international investors, particularly the US investor market.