Pan African Resources Share Discussion Threads

[justiceforthemany] 06/9/2018 11:11

AFTER months spent scouring Africa for new sources of gold production, Pan African may has discovered high grade growth ounces at its Royal Sheba prospect which falls within the mining permit of its Barberton Gold Mines in South Africa’s Mpumalanga province.

“There’s no resource like this anywhere in South Africa,” said Cobus Loots, CEO of Pan African in an interview. “The irony is that we’ve found gold in our backyard without having to pay premiums for takeovers in Africa,” he said.

In an announcement to the JSE today, Pan African said the Royal Sheba prospect contained an estimated 900,000 ounces in gold reserves of which 350,000 oz was accessible through open pit mining at an average grade of 3.81 grams per tonne (g/t). Gold resources totalling 550,000 oz could be mined through underground mining.

There was also potential for adding to the resources number moving eastwards whilst Pan African was also drilling at the nearby New Consort property.

Loots declined to comment on capital required for the project, but he confirmed Royal Sheba represented short-term production, and that it could help lower the company’s total all-in sustaining costs to between $800 to $850/oz.

[davidlloyd] 06/9/2018 10:29

:-0, :-)

DL

[fangorn2] 06/9/2018 09:18

Always like to see the words

The exploration results from the drilling on Royal Sheba have exceeded our expectations, reaffirming the grades historically mined at depth. Significantly, the drilling programme has indicated the orebody extends to surface, with the potential to establish a new open pit mining operation in the short term

Exceeding expectations...

[stonefold] 06/9/2018 08:40

RNS Royal Sheba project update.


Very promising news of potential low cost development.

Mineral Resource Estimate for the first 2 phases of exploration drilling at the Barberton Mine's Royal Sheba Project:

"..150% increase in Royal Sheba’s Mineral Resources from 0.36Moz (2.60Mt at 4.32g/t) to 0.9Moz (8.56Mt at 3.27g/t);

Near surface resource being 0.35Moz (2.84Mt at 3.81g/t) while the underground resource is delineated at 0.55Moz (5.72Mt at 3.0g/t);

The near surface resource of 0.35Moz conducive to open pit mining;

The Royal Sheba Project’s surface drilling programme (Phase 1 and 2 - 1,645m of drilling) confirms robust mineralisation extending from the surface along an 850m strike and 150m down dip of the Royal Sheba deposit;

Summarised drilling results confirms the mineralisation ranges in a width from 5m to 25m with in-situ gold grades ranging between 0.5g/t to 174g/t and averaging 3.27g/t; and.."

Next
"...Phase 3 drilling of the Royal Sheba deposit has commenced to test a further 600m strike length, within the Sheba Mine’s mining right. .."

In conjunction with the on-going exploration programme, (they will update further on this in November 2018).

They will finalise a definitive feasibility study (in February 2019), with the view of commencing project development in the near term CEO says-
" I am also excited at the prospectivity of our mining lease namely; New Consort and Sheba Hills and proving similar near-surface resources from this extended exploration programme."

---

So first an open cast phase lasting a few years (by my estimate capable of similar production per year as Elikhulu).
Then consideration of going for the remaining 60% of the ore-body via an underground mine if cost effective at that time.

Good news for local employment and an increase in the value of the company's reserves and turnover, and who knows maybe even the share price might be uplifted.

More details worth a read

06-09-2018

[davidlloyd] 06/9/2018 08:30

News uptake here very slow....think I might take advantage😀
DL

[astjgroom] 04/9/2018 10:23

Dollars unstoppable, just hit 15 rand to the dollar

[stonedyou] 01/9/2018 14:49

You would hope so , but the shorter brigade may have other plans....

[macthepak] 01/9/2018 14:14

2018 full years earning due this month on 19th.

A combination of good results, taking into account operational problems earlier this year and announcement of a dividend in December 2018 should be the trigger for the rise to begin.

[fangorn2] 31/8/2018 09:41

stonedyou30 Aug '18 - 22:50 - 10434 of 10434 (Filtered)

Whatever nonce boy

Still filtered.

[fangorn2] 29/8/2018 16:14

topazfrenzy29 Aug '18 - 14:33 - 10425 of 10426
0 0 0
Have bought back in since the land thefts are off the table.

When gold turns, and it will, this should rocket.

Yep just seen the news.Superb

"South Africa has withdrawn its white farmland redistribution bill – six days after Donald Trump warned he was closely studying the situation - seems Trumps tweet 6 days ago has put the cat amongst the pigeons.

Going to give it a week or so to see how things settle first before buying back in.

As I said, am a big fan of PAF, it was the politics that really concerned me.

Something many would respect if they'd lived in Sarf Africa.

[topazfrenzy] 29/8/2018 14:33

Have bought back in since the land thefts are off the table.

When gold turns, and it will, this should rocket.

GLA

[fangorn2] 29/8/2018 10:36

‘Lucky’ is a farm attacker. He explains to me why the black gangs rape the farmers wife and children in front of him. #plaasmoorde

pic.twitter.com/6MBVys6c47





Johan Oosthuizen
‏ @LuckyLuke0051
18h18 hours ago
Replying to @KTHopkins

I live in SA and this is the view of my front garden from my bed. Notice the E-fence, burglar bars and the shotgun.

This is how I try to keep the monsters out and my wife safe. pic.twitter.com/HVmOIQsoyP

[fangorn2] 29/8/2018 10:34

"A message to the international community from a boer in #SouthAfrica the reality of our situation. Please RT."
#FarmMurders #SouthAfrica

pic.twitter.com/sdChH864dA




#BoerTestimony.

We have to get the truth out there about #FarmMurders and expropriation of land in #SouthAfrica. I pray that these messages will reach the international community and president @realDoanldTramp

pic.twitter.com/7WXty6rvJC

[justiceforthemany] 28/8/2018 18:11

Britain backing SA including land reform plans - Theresa May in SA, meets Ramaphosa.

[justiceforthemany] 24/8/2018 13:43

Trump wading into SA's land reform proprosals. Attacks on white farmers have been going on for over 20 years but the death rate is said to be at a 20 year low, contrary to reports.

Following US President Donald Trump’s tweet about South Africa’s land reform policy, President Cyril Ramaphosa has moved to assure the world that the land programme is crucial for inclusive growth.

Ramaphosa has written an editorial in the Financial Times clarifying the policy and explaining why it’s important for South Africa.

Ramaphosa says the land reform programme won't undermine future investment in the economy or damage agricultural production and food security or even erode property rights.

The president mentions that South Africa has learnt from the experiences of other countries, and will not make the same mistakes that others have made.

He closes his column by saying land reform is a moral, social and economic imperative.

This is no land grab', writes Cyril Ramaphosa
In this article, published in London's Financial Times, President Cyril Ramaphosa explains how land expropriation without compensation will work
hxxps://www.businesslive.co.za/bd/opinion/2018-08-24-exclusive-this-is-no-land-grab-writes-cyril-ramaphosa/