Discover an emerging gold producer in Africa
Wednesday 2nd December 3:30pm (GMT)
About the seminarWelcome! You are invited to join a webinar: Pan African Resources (LSE:PAF) - Webinar. After registering, you will receive a confirmation email about joining the webinar. Reserve your place here
This is an invitation-only event. Edison reserves the right to decline requests to attend from people not directly invited.
Speaking at the seminar
Cobus Loots – EXECUTIVE DIRECTOR, CEOCobus has many years of experience in the African mining sector. He qualified as a chartered accountant with Deloitte & Touche in South Africa. Prior to joining Pan African Resources, he held the title of managing director of Shanduka Resources. Shanduka Resources was a mining investment business and part of the Shanduka Group, which was headed by Cyril Ramaphosa prior to his move to the South African government. He has been a director of Pan African Resources since 2009. Cobus served as financial director of Pan African Resources from 2013 until his appointment as chief executive officer on 1 March 2015.
Pan African Resources (PAF) has announced that it is to acquire 100% of Mogale Gold and Mintails SA Soweto Cluster from Mintails’ liquidator for ZAR50.0m (US$3.2m). Combined, the two assets host a mineral resource of 243Mt (in tailings), containing 2.36Moz gold. As such, consideration equates to US$1.31 per oz of contained gold cf an average valuation of US$9.88/oz for London-listed pre-production gold assets (see Gold stars and black holes, published in January 2019). Closure of the deal is subject to the usual due diligence, including the evaluation the assets’ amenability to retreatment.