Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Alex Walker, CEO, commented:
"East Star believes the value of Verkhuba alone significantly exceeds the
current market
capitalisation of the Company and as such will only consider proposals that offer a fair valuation for shareholders and exposure to the near-term production potential of the Copper Deposit at a time when a multivear copper bull market is being predicted by most market analysts.
The open pit and underground potential of Verkhuba have been demonstrated by the modelling of more than 46,000 meters of drilling and numerous geological interpretations by independent resource consultants. There is around 1.4 million tonnes per annum of excess processing capacity from two third-party concentrators within 52km by road of the Copper Deposit. With power and water easily accessible on site, the opportunity for Verkhuba to be put into production quickly and with a low upfront capital cost is compelling and reflected in the interest received to date.
We look forward to undertaking this process while planning continues for the field season, including advancing a number of exciting VMS targets in the licence package towards drilling, and progressing
Our porphyry and sediment-hosted copper exploration strategies."