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PAN AFRICAN RESOURCES PLC - Update regarding the 21-Day Covid-19 Lockdown and impact on Group operations

Release Date: 30/03/2020 09:00
Code(s): PAN     PDF:  
 
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Update regarding the 21-Day Covid-19 Lockdown and impact on Group operations

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 Resources" or "the Company" or "the Group")


UPDATE REGARDING THE 21-DAY COVID-19 LOCKDOWN AND IMPACT ON GROUP OPERATIONS

Further to the Company’s announcement on 24 March 2020, Pan African Resources informs
shareholders that the Company has implemented the necessary measures at all its operations
to conduct essential services during the 21-day lockdown period (the “National Lockdown”).

The Group’s actions are consistent with the regulations announced by President Cyril
Ramaphosa on Monday 23 March 2020, and enacted in terms of the South African Disaster
Management Act (“the Regulations”), as well as with additional applicable regulations and
requirements pertinent to the National Lockdown. The Regulations are effective midnight 26
March 2020 to midnight 16 April 2020, in an effort to contain the spread of the COVID-19
(coronavirus) pandemic.

Essential services specific to affected Pan African Resources’ operations include security
services, pumping and ventilation activities, metallurgical plant maintenance, inspection of
underground workings, management and monitoring of tailings deposition facilities, waste
management and water treatment facilities and other health and safety related services.

As part of essential services, the Group is also currently conducting limited surface re-mining
and processing activities at its Elikhulu Tailings Retreatment Plant and at its Barberton Tailings
Retreatment Plant (collectively the “Group surface operations”). The Group surface
operations are currently operating at approximately 70 per cent of normal capacity. Barberton
Mines will, in the next few days, endeavour to resume limited operations at certain high-grade
sections of its Fairview operation to ensure the required minimum feed for its BIOX ®
processing plant.

Pan African Resources supports and is committed to all government efforts to contain the
spread of COVID-19. Of the Group’s total staff and contractor complement, only 20 per cent
(excluding security staff) are involved in the essential services detailed above. Employees
and contractors not required for essential services will remain at home for the duration of the
National Lockdown, as required by the Regulations.

Further measures to reduce the risk of COVID-19 contamination of essential service personnel
include the following:

          -   Where possible, relevant staff members are housed in dedicated, restricted-access
              housing facilities for the duration of the lockdown;
          -   Continuous screening and monitoring, including thermal temperature monitoring, of
              staff members for COVID-19 symptoms have been implemented;
          -   Standby medical support; and
          -   Rigorous social distancing and sterilisation/hygiene protocols, which are in place.

The South African Department of Mineral Resources and Energy has approved the Group’s
planned activities during the National Lockdown, subject to compliance with and adherence to
all relevant Regulations and applicable legislation.
The COVID-19 pandemic is expected to have a severe adverse economic and social impact
on stakeholders involved in the Group’s operations. The Group will, in the coming weeks,
embark upon initiatives to assist stakeholders in this regard in the areas in which we operate.

Updated guidance for the 2020 financial year will be communicated to shareholders after the
National Lockdown has concluded, once the Group is in a position to quantify the extent and
duration of the operational disruptions during this time.

Cobus Loots, CEO of Pan African Resources, commented: "In this time of crisis, we are
heartened by the manner in which all stakeholders in the mining industry are collaborating.
Pan African Resources recognises that the adverse effects of the COVID-19 pandemic will be
severe and far reaching. The impact will be even more pronounced in areas with limited
resources and poverty. Recognising the economic and social hardship that communities and
employees will experience during the National Lockdown, the Company will embark on
support programmes, in addition to our existing initiatives, to alleviate this hardship.


Pan African Resources will continue to provide shareholders with regular updates regarding
developments at Group operations.”

Rosebank
30 March 2020

For further information on Pan African Resources, please visit the Company’s website at
www.panafricanresources.com

Contact information
Corporate Office                                   Registered Office
The Firs Office Building                           Suite 31
2nd Floor, Office 204                              Second Floor
Cnr. Cradock and Biermann Avenues                  107 Cheapside
Rosebank, Johannesburg                             London
South Africa                                       EC2V 6DN
Office: + 27 (0)11 243 2900                        United Kingdom
info@paf.co.za                                     Office: + 44 (0)20 7796 8644
Cobus Loots                                        Deon Louw
Pan African Resources PLC                          Pan African Resources PLC
Chief Executive Officer                            Financial Director
Office: + 27 (0)11 243 2900                        Office: + 27 (0)11 243 2900
Phil Dexter/Jane Kirton                            John Prior
St James's Corporate Services Limited              Numis Securities Limited
Company Secretary                                  Nominated Adviser and Joint Broker
Office: + 44 (0)20 7796 8644                       Office: +44 (0)20 7260 1000
Ciska Kloppers                                     Ross Allister/David McKeown
Questco Corporate Advisory Proprietary Limited     Peel Hunt LLP
JSE Sponsor                                        Joint Broker
Office: + 27 (0)11 011 9200                        Office: +44 (0)20 7418 8900
Julian Gwillim                                     Thomas Rider/Neil Elliot
Aprio Strategic Communications                     BMO Capital Markets Limited
Public & Investor Relations SA                     Joint Broker
Office: +27 (0)11 880 0037                         Office: +44 (0)20 7236 1010
Website: www.panafricanresources.com

Date: 30-03-2020 09:00:00
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