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Pan African set to meet 2019 guidance
Pan African set to meet 2019 guidance. The gold producer is ceasing high-cost production as it focuses on new projects including the Elikhulu tailings retreatment plant and Royal Sheba at Barberton.
Pan African Reduces says it's on track to achieve its full-year production target after commissioning its Elikhulu tailings retreatment plant.
The gold producer had guided for 170 000 ounces of gold for its 2019 financial year, assisted by production from the plant, which process old mine dumps. It poured its first gold in August, ahead of schedule and within the projected budget.
Elikhulu is expected to be a flagship operation within Pan African's reconfigured low-cost, long-life asset base. It has also taken the decision to cease some unsustainable production at its Evander operations.
For the first quarter of its financial year, the group produced 37 792 ounces of gold. However, Elikhulu only ramped up to its design capacity of 1-million tonnes per month during October. Pan African said the incorporation of the Evander Tailings Retreatment Plant (ETRP) will increase Elikhulu's capacity to 1.2 million tonnes a month. This is expected to be completed by January.
The group said it had commenced mining and vamping of the remnant high-grade stopes as part of the phased closure of the underground mining operations at Evander Miners. Equipping and preparatory work to advance the mining of the 8 shaft pillar at Evander is expected to be completed early next year.
Barberton Mines is on track to meet full-year production guidance of 100 000 ounces, while the drilling programme on the Royal Sheba prospect has been completed.
We look forward to updating shareholders on the progress of this exciting growth project in the coming months with an updated resource statement to be released by the end of November 2018, and the feasibility study still on schedule for release in February 2019," CEO Cobus Loots said.
Its shares rose 0.7% to R1.54 yesterday.
Rebecca visited the new Pan African Resources Elikhulu plant in Evander to gather material for the development of site specific operator training modules. The new plant is up and running...
-- MetSkill (@MetSkill) November 1, 2018
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By INCE|Connect NewsPan African set to meet 2019 guidance. The gold producer is ceasing high-cost production as it focuses on new projects including the Elikhulu tailings retreatment plant and Royal Sheba at Barberton.
Pan African Reduces says it's on track to achieve its full-year production target after commissioning its Elikhulu tailings retreatment plant.
The gold producer had guided for 170 000 ounces of gold for its 2019 financial year, assisted by production from the plant, which process old mine dumps. It poured its first gold in August, ahead of schedule and within the projected budget.
Elikhulu is expected to be a flagship operation within Pan African's reconfigured low-cost, long-life asset base. It has also taken the decision to cease some unsustainable production at its Evander operations.
For the first quarter of its financial year, the group produced 37 792 ounces of gold. However, Elikhulu only ramped up to its design capacity of 1-million tonnes per month during October. Pan African said the incorporation of the Evander Tailings Retreatment Plant (ETRP) will increase Elikhulu's capacity to 1.2 million tonnes a month. This is expected to be completed by January.
The group said it had commenced mining and vamping of the remnant high-grade stopes as part of the phased closure of the underground mining operations at Evander Miners. Equipping and preparatory work to advance the mining of the 8 shaft pillar at Evander is expected to be completed early next year.
Barberton Mines is on track to meet full-year production guidance of 100 000 ounces, while the drilling programme on the Royal Sheba prospect has been completed.
We look forward to updating shareholders on the progress of this exciting growth project in the coming months with an updated resource statement to be released by the end of November 2018, and the feasibility study still on schedule for release in February 2019," CEO Cobus Loots said.
Its shares rose 0.7% to R1.54 yesterday.
Rebecca visited the new Pan African Resources Elikhulu plant in Evander to gather material for the development of site specific operator training modules. The new plant is up and running...
-- MetSkill (@MetSkill) November 1, 2018