Pan African Resources PLC Evander Fatality & Shaft Refurbishment Programme

 
TIDMPAF 
 
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") 
 
    EVANDER GOLD MINING PROPRIETARY LIMITED ("EVANDER") FATALITY AND SHAFT 
                            REFURBISHMENT PROGRAMME 
 
FATALITY 
 
It is with deep regret that Pan African reports that a mining accident occurred 
at the Evander 7 shaft complex on 15 February 2017.  Mr Velile Chaplin Kapa 
(54), an Engineering Assistant employed by the operation, sustained a fatal 
head injury when a section of the main shaft pump column failed whilst he was 
working in the shaft bottom area. Pan African's management and board express 
their sincere condolences to the family, friends and colleagues of Mr Kapa. 
 
SHAFT REFURBISHMENT PROGRAMME 
 
Shareholders are referred to the Trading Update, released on 5 December 2016, 
in which Pan African, inter-alia, disclosed details of the refurbishment 
programme being conducted at Evander's 7A shaft. 
 
In conjunction with the 7A shaft refurbishment programme, Evander's management 
initiated a number of independent and internal engineering studies to assess 
the condition of Evander's underground mining infrastructure (both Evander 7 
and 8 shafts). These studies identified critical infrastructure issues 
requiring remedial action, to ensure safe and sustainable operation of these 
shafts. 
 
The nature of these refurbishments require a suspension of Evander's 
underground mining operations for a period of up to 55 days, during which 
critical infrastructure issues will be addressed. Evander's tailings and 
surface operations will be unaffected by the underground mining suspension. 
 
The cost of the shaft refurbishment programmes is expected to be approximately 
R40 million, which will be funded from the Company's existing banking 
facilities. 
 
In light of these recent developments, Pan African has revised its gold 
production guidance for the financial year ending 30 June 2017 from 195 000 
ounces to approximately 181,000 ounces. 
 
Pan African's interim results for the period ended 31 December 2016 will be 
released on 22 February 2017.  Further detail on the Evander underground 
refurbishment programme will be made available as part of this interim 
presentation. 
 
20 February 2017 
 
CONTACT INFORMATION 
 
Corporate Office 
The Firs Office Building 
1st Floor, Office 101 
Cnr. Cradock and Biermann Avenues 
Rosebank, Johannesburg 
South Africa 
Office: + 27 (0) 11 243 2900 
Facsimile: + 27 (0) 11 880 1240 
 
Registered Office 
Suite 31 
Second Floor 
107 Cheapside 
London 
EC2V 6DN 
United Kingdom 
Office: + 44 (0) 207 796 8644 
Facsimile: + 44 (0) 207 796 8645 
 
  Cobus Loots                    Deon Louw 
 
  Pan African Resources PLC      Pan African Resources PLC 
 
  Chief Executive Officer        Financial Director 
 
  Office: + 27 (0) 11 243 2900   Office: + 27 (0) 11 243 2900 
 
  Phil Dexter                    John Prior / Paul Gillam / James Black 
 
  St James's Corporate Services  Numis Securities Limited 
Limited 
 
  Company Secretary              Nominated Adviser  and Joint Broker 
 
  Office: + 44 (0)207 796 8644   Office: [phone] 
 
  Matthew Armitt / Ross Allister Sholto Simpson 
 
  Peel Hunt LLP                  One Capital 
 
  Joint Broker                   JSE Sponsor 
 
  Office: [phone]   Office: + 27 (0) 11 550 5009 
 
  Julian Gwillim                 Bobby Morse/Chris Judd 
 
  Aprio Strategic Communications Buchanan Communications 
 
  Public & Investor Relations SA Public & Investor Relations UK 
 
  Office: [phone]     Office: [phone] 
 
Jeffrey Couch/Neil Haycock/Thomas Rider 
BMO Capital Markets Limited 
Joint Broker 
Office: [phone] 
 
www.panafricanresources.com 
 
 
 
END 
 

(END) Dow Jones Newswires

February 20, 2017 02:00 ET (07:00 GMT)