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PAN
PAN
PAN - Pan African Resources plc - Mozambique government awards mining licence
on Manica project
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`)
MOZAMBIQUE GOVERNMENT AWARDS MINING LICENCE ON MANICA PROJECT
Pan African Resources, the African focused precious metals producer, has been
awarded a mining licence on its Manica exploration project ("Manica Project")
by the Mozambican government. The licence, which was converted from a
prospecting licence, grants Pan African the opportunity to move the Manica
Project to development stage.
The pre-feasibility study in respect of the Manica Project relating to mining
the oxide and some of the sulphide bearing mineralised material was completed
on schedule in December 2010. A detailed pre-feasibility study is being
completed on the remainder of the sulphide bearing mineralised material,
which will include a detailed three dimensional underground mine design. This
study is expected to be completed during Q2 of 2011 and results of both
studies will be published towards the beginning of Q3 of 2011.
Jan Nelson, Chief Executive of Pan African commented: "We are pleased to have
been awarded this mining licence on the Manica Project as well as with the
overall progress on the project to date. Once the pre-feasibility study is
completed, we will be in a position to review how we move the project
forward."
Johannesburg
4 April 2011
JSE Sponsor:
Macquarie First South Advisers (Pty) Limited
Enquiries:
South Africa United Kingdom
Pan African RBC Capital Markets
Jan Nelson, Chief Executive Officer Martin Eales
+27 (0) 11 243 2900 +44 (0) 20 7029 7881
Pan African St James`s Corporate Services
Nicole Spruijt, Public Relations Limited
+27 (0) 11 243 2900 Phil Dexter
+44 (0) 20 7499 3916
Macquarie First South Advisers (Pty) Gable Communications
Limited Justine James
Melanie de Nysschen/ +44 (0) 20 7193 7463
Annerie Britz/ Yvette Labuschagne +44 (0) 7525 324431
+27 (0) 11 583 2000
Vestor Media & Investor Relations
Louise Brugman
+27 (0) 83 504 1186
Date: 04/04/2011 08:00:01 Produced by the JSE SENS Department.
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