(NewsDirect)
Pan African Resources PLC (AIM:PAF,OTCQX:PAFRY, JSE:PAN, OTCQX:PAFRF) CEO Cobus Loots tellsProactive's Stephen Gunnion the company is expected to meet theupper end of its production guidance for the year ending in June. Thisoutcome could have been surpassed if not for a reduction in marginalsurface throughput at its Evander operation, a decision driven byeconomic factors related to third-party tolling material.Additionally, progress continues on the construction of the Mintailstailings project, set to be commissioned later this year, withsteady-state production anticipated by December.
Loots also touched on developments at theSoweto cluster, part of the company's longer-term strategy at MTR.This cluster, along with the Mogale cluster, is expected tosignificantly extend the life and production capabilities of the mine.Initial estimates project a life span of over 20 years for the mine,with production cost-effectively under $1,000 per ounce, enhancingprofitability, especially in the current favourable gold priceenvironment.
Loots also noted thatwhile the company is focusing on completing the Mintails project, thefinal investment decision for the Soweto cluster will not be rushed,with further studies and permitting still pending. Overall, operationsacross the company’s portfolio are progressing well and in line withguidance.
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