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PAN - Pan African Resources plc - Mozambique government awards mining licence

Release Date: 04/04/2011 08:00
Code(s): PAN
Wrap Text

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 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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