Evander Fatality & Shaft Refurbishment Prog...

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 Limited	Numis Securities 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