(NewsDirect)
Pan African Resources CEO Cobus Lootsjoined Steve Darling from Proactive to discuss the company'sperformance and prospects.
PanAfrican Resources is a South African-based gold mining company withattractive margins and long-life assets. Despite some challenges inthe past year, the company is optimistic about its growth andexpansion plans. The production side has seen improvements, withincreased production at the Barberton underground mine and progress atthe Evander underground mine.
Lootsemphasized the balance between underground mining and surfaceoperations, with the Kulu operation performing well and generatingstrong cash flows. Additionally, Pan African Resources highlighted thefavorable gold price it has been receiving. Continuous improvementsand safety measures are vital aspects of the company's operations.
One significant development for Pan African Resources is theupcoming construction of the Mintails project, a promising addition toits portfolio. With a reserve of nearly 2 million ounces and a lowacquisition cost, the project is expected to produce 50,000 ounces ofgold annually for 20 years at attractive margins.
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