Pan African and its subsidiaries are a South African based precious metals mining group which produces in excess of 200,000oz of gold and 8,000oz of PGM’s per annum. The Company’s strategic focus is on the exploitation of high grade ore-bodies that yield high margins with a relatively low cost base. Pan African has successfully grown profitable precious metal production in recent years via organic and acquisitive growth
31/01/14UPDATE - Pan African's earnings to rise strongly
27/11/13Pan African Resources speeds up Manica sale
24/10/13Pan African Resources eyeing growth opportunities at Evander
22/10/13UPDATE - Pan African Resources coy on reports of Navachab interest
04/10/13Pan African Resources reaches wage deal with Barberton miners
No documents available.
No documents available.
What We Do Pan African and its subsidiaries are a South African based precious metals mining group which produces in excess of 200,000oz of gold and 8,000oz of PGM’s per annum.
The Company’s strategic focus is on the exploitation of high grade ore-bodies that yield high margins with a relatively low cost base.
Pan African has successfully grown profitable precious metal production in recent years via organic and acquisitive growth.
The purchase of Evander Gold Mines from Harrmony Gold effectively doubled gold production, whilst the commissioning of the Barberton Tailings Retreatment Plant added a further 20,000 to 25,000oz of low cost ounces to Barberton’s gold output.
The Group is currently unhedged and is able to fund all on-mine capital expenditure from internal cash flows generated by its operations.
The Group remains one of the lowest cash cost producers of gold and PGM’s in South Africa.
It has a strong balance sheet and also has a track record of providing a cash return to shareholders through an attractive annual dividend.
BTRP – Barberton Tailings Retreatmant Plant
Evander Gold Mines*
*excludes surface tailings
ETRP – Evander Tailings Retreatmant Plant
Phoenix Platinum Mines
Keith Spencer - Independant Non-Executive Director - Chairman
BSc Eng (Mining)
Keith is a qualified mining engineer with 35 years’ practical mining experience. He has managed some of the largest gold mines in the world. In 1984 Keith was appointed as General Manager of Greenside Colliery and in 1986 moved to Kloof Gold Mine as General Manager. In 1989 he was appointed as consulting engineer for Gold Fields, South Africa to Doornfontein Gold Mine, Driefontein Consolidated Gold Mine, Greenside Colliery and Tsumeb Base Metals Mine. He also served as Managing Director of Driefontein Consolidated, Chairman and Managing Director of Deelkraal Gold Mine, and as a board member of all gold mines belonging to Gold Fields, South Africa. In 1999 Keith joined Metorex Limited, first as a private consultant and later as a permanent member of the executive, managing the Wakefield Coal operations, O’okiep Copper company, Barberton Gold Mines and Metmin Manganese Mine. In 2001 Keith became Operations Director for Metorex Limited.
Phuthi Mahanyele - Non-Executive Director - Deputy Chairman
BA Economics, MBA
Phuthi is the CEO of Shanduka group. She joined Shanduka in 2004 as the managing director of Shanduka Energy (Pty) Ltd, a subsidiary company of the Shanduka group. She was previously the head of the Project Finance South Africa unit at the Development Bank of Southern Africa. Prior to that, Phuthi was vice president at Fieldstone, where she joined the firm in New York in 1997 and later transferred to the South African office. She is a board member of a number of Shanduka group investee companies. She completed the Kennedy School of Government Executive Education Program’s Global Leadership and Public Policy for the 21st Century at Harvard University in 2008.
Hester Hickey - Independent Non-Executive Director
Hester worked at AngloGold Ashanti, initially as group Internal Audit Manager and later as Executive Officer: Head of Risk. Prior to this she worked at Ernst & Young and Liberty Life and was Acting Head of Internal Audit at Transnet. In her early career she lectured at the University of Witswatersrand, was a partner of Ironside Greenwood and was the National Technical and Training Manager at BDO Spencer Stewart. Hester has also previously served as Chairman of SAICA. She currently performs board evaluations and director training for the IoDSA and serves on several boards and audit committees.
Thabo Mosoli - Independant Non-Executive Director
Thabo brings a wealth of experience in corporate governance and audit, having started his career at KPMG and since 1999 having served on a variety of boards as a member and chairman of audit committees in the resources and other industries in South Africa. He is currently a director of MFT Investment Holdings, where he is responsible for investment decisions in respect of B-BBEE investment opportunities.
Rowan Smith - Independant Non-Executive Director
Rowan was the Managing Director of Shanduka and has almost two decades of collective xperience in the minerals and merchant banking industries. He was previously a director at Pan African Resources from 17 September 2009 until 20 July 2011. His experience
includes geological valuation work for Rand Mines, seven years with Societe Generale de Surveillance in both Geneva and South Africa as a manager, and four years as a director of Investec’s Resource Finance Division. Rowan’s passion for business development, coupled
with his technical and merchant banking expertise have provided him with the skills to originate, structure and implement a host of investments across the various resource-based sectors.
Cobus Loots - Executive Director
Cobus served articles with Deloitte & Touche and became an Audit Manager with the firm before leaving to pursue a career in finance. His experience includes mining-specific acquisitions and finance as well as the management of both exploration and production of mineral assets, most recently before 2009 as Managing Director of Shanduka. Cobus has been a director of Pan African Resources since 2009 (FD during 2009–2011, and a non-executive director during 2011–2013) and served as Joint CEO alongside Ron Holding until assuming the office of FD on 1 October 2013.
Dean Louw - Executive Director
Deon has extensive corporate finance and business experience, which includes investment banking, consulting and business administration in the mining finance and mining services sectors. He has fulfilled the roles of Financial Director of Sentula Mining Limited, CFO of Shanduka Coal, Director of Resource Finance Advisors and Head of Resource Structured Finance at Investec Bank.
South Africa Contacts
Corporate office in South Africa
Office 101, First Floor, The Firs
Cnr Cradock and Biermann Avenues
Rosebank, Johannesburg, South Africa
Tel: + 27 11 243 2900
Fax: + 27 11 880 1240
E-mail: [email protected]
Public & Investor Relations SA
Aprio Strategic Communications
Tel: +27 (0)11 880 0037
Company Secretary & Investor Relations (UK)
St James’s Corporate Services Limited
Suite 31, Second Floor
London, EC2V 6DN
Tel: +44 (0)20 7796 8644
Fax: +44 (0)20 7796 8645
E-mail: [email protected]
One Capital (Pty) Ltd
Tel: +27 (0) 11 550 5000
Nominated Adviser and Joint Broker
Canaccord Genuity Limited
Tel: +44(0)20 7523 8306
Matthew Robinson / Elizabeth Johnson
Tel: +44(0)20 7220 0500
Fasken Martineau LLP
Tel: +44(0)20 7917 8500