Since our last update note, Pan African Resources (PAF) has announced the disposal of its 91% interest in its coal asset, Uitkomst, for ZAR275m (£16.3m, or US$20.9m), a placing to raise ZAR705m (£41m, or US$51m) and an update on progress at its Evander underground refurbishment. As well as returning an exceptional profit to the company, the disposal self-evidently returns Pan African to its core competency of gold mining. It also materially reduces risk in the form of its net fund
17 May 2017
Canning coal
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Canning coal
Pan African Resources PLC (PAF:LON) | 23.4 -0.1 (-1.7%) | Mkt Cap: 520.7m
- Published:
17 May 2017 -
Author:
Charles Gibson -
Pages:
7
Since our last update note, Pan African Resources (PAF) has announced the disposal of its 91% interest in its coal asset, Uitkomst, for ZAR275m (£16.3m, or US$20.9m), a placing to raise ZAR705m (£41m, or US$51m) and an update on progress at its Evander underground refurbishment. As well as returning an exceptional profit to the company, the disposal self-evidently returns Pan African to its core competency of gold mining. It also materially reduces risk in the form of its net fund