Less Ads, More Data, More Tools Register for FREE

Pin to quick picksPan African Resources Regulatory News (PAF)

Share Price Information for Pan African Resources (PAF)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 24.80
Bid: 24.70
Ask: 24.80
Change: 0.15 (0.61%)
Spread: 0.10 (0.405%)
Open: 25.40
High: 25.40
Low: 24.30
Prev. Close: 24.65
PAF Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Further re RK1 Consortium

18 May 2010 07:45

18 May 2010 Pan African Resources PLC (`Pan African' or the `Company' or the `Group')

(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 Update on conditional acquisition of a 25% stake in the RK1 Consortium and withdrawal of cautionary announcement

Shareholders are referred to the announcement released on, 31 March 2010, in which Pan African advised that it had signed a conditional Sale and Purchase Agreement with Ivanhoe Nickel and Platinum Limited to acquire a 25% interest in the RK1 Consortium (`RK1') (the `Transaction'). RK1 owns a Chromite Tailings Retreatment Plant ('CTRP') situated at Kroondal on the Western Limb of the Bushveld Complex in the North West Province of South Africa, which produces Platinum Group Metals concentrate.

The Transaction was subject to, inter alia, the successful completion of a technical and financial due diligence investigation (`Due Diligence') by Pan African. Subsequent to the completion of the Due Diligence, the Company has elected not to proceed with the Transaction.

This decision will not affect the interim Exclusivity and Agreed Terms Agreement (the `Agreement`) entered into on 17 February 2010 between Pan African, its wholly-owned subsidiary Phoenix Platinum Mining (Pty) Limited (`Phoenix`) and International Ferro Metals SA (Pty) Ltd (`IFM`) which relates to the siting and construction of the Phoenix CTRP on the IFM Mine Property. This is progressing ahead of schedule and first production is still planned for September 2011.

Withdrawal of cautionary announcement

Shareholders are referred to the cautionary announcement first released on 31 March 2010 and subsequently renewed on 30 April 2010, and in terms of the Listings Requirements of JSE Limited are advised that, as the company has elected not to proceed with the Transaction, caution is no longer required to be exercised when dealing in the Company`s securities.

ENDS For further information on Pan African Resources please visit the website atwww.panafricanresources.comEnquiries: Pan African Resources

Jan Nelson, Chief Executive Officer +27 (0) 11 243 2900 Nicole Spruijt, Public Relations

+27 (0) 11 243 2900 RBC Capital Markets Martin Eales / Brett Jacobs +44 (0) 20 7029 7881

Macquarie First South Advisers (Pty) Limited

Melanie de Nysschen +27 (0) 11 583 2000

St James's Corporate Services Limited

Phil Dexter +44 (0) 20 7499 3916 Nedbank Capital Reg Demana +27 (0) 11 294 1586

vendor
Date   Source Headline
2nd Jul 20208:00 amPRNPan African establishes Sponsored ADR Programme
27th May 20204:41 pmRNSSecond Price Monitoring Extn
27th May 20204:36 pmRNSPrice Monitoring Extension
11th May 20208:00 amPRNUpdate on Operations
17th Apr 20208:35 amPRNHolding(s) in Company
14th Apr 20209:30 amPRNHolding(s) in Company
14th Apr 20209:04 amPRNFurther update re Covid-19 National Lockdown
30th Mar 20208:00 amPRNUpdate re 21 Day Covid-19 Lockdown
24th Mar 20204:43 pmRNSSecond Price Monitoring Extn
24th Mar 20204:38 pmRNSPrice Monitoring Extension
24th Mar 20207:35 amPRN21 Day Lockdown and Suspension of Production Guidance
23rd Mar 20204:38 pmRNSPrice Monitoring Extension
20th Mar 20207:00 amPRNStatement re Covid-19 Prevention Measures
19th Mar 20202:00 pmPRNDirector/PDMR Shareholding
18th Mar 20203:50 pmPRNHolding(s) in Company
12th Mar 202012:00 pmPRNHolding(s) in Company
10th Mar 20209:07 amPRNHolding(s) in Company
9th Mar 202010:30 amPRNDirector/PDMR Shareholding
24th Feb 20202:00 pmPRNDirector/PDMR Shareholding
24th Feb 20209:32 amPRNDirector/PDMR Shareholding
21st Feb 20209:00 amPRNDirector/PDMR Shareholding
21st Feb 20209:00 amPRNDirector/PDMR Shareholding
20th Feb 20208:08 amPRNDirector/PDMR Shareholding
18th Feb 20207:00 amPRNInterim Unaudited Results to 31 December 2019
31st Jan 20207:00 amPRNTrading Statement for the six months ended 31 Dec 2019
24th Jan 20207:00 amPRNOperational Update for the Six Months Ended 31 Dec 2019
21st Jan 202010:30 amPRNHolding(s) in Company
29th Nov 20197:00 amPRNResult of AGM & Salient Dividend Dates
28th Oct 20197:00 amPRNNotice of AGM & No Change Statement
25th Oct 20191:00 pmPRNHolding(s) in Company
25th Sep 20193:30 pmPRNDirector/PDMR Shareholding
20th Sep 20197:00 amPRNDirector/PDMR Shareholding
20th Sep 20197:00 amPRNDirector/PDMR Shareholding
18th Sep 20199:32 amPRNPublication of IAR FY2019
18th Sep 20197:00 amPRNProvisional Summarised Audited Results
11th Sep 20191:00 pmPRNTrading Statement & Notice of Results
29th Jul 20195:30 pmRNSSafecharge International Group
18th Jul 20191:30 pmPRNDirectorate Change
12th Jul 20197:00 amPRNOperational Update for the Year ended 30 June 2019
1st Jul 201910:00 amPRNHolding(s) in Company
5th Jun 201911:15 amPRNHolding(s) in Company
31st May 20194:40 pmRNSSecond Price Monitoring Extn
31st May 20194:35 pmRNSPrice Monitoring Extension
17th May 20197:00 amPRNOperational Update for 9 Months ended March 2019
7th May 20191:30 pmPRNHolding(s) in Company
3rd Apr 201912:06 pmPRNDirectorate Change
20th Feb 20197:00 amPRNInterim Results for six months to 31 Dec 2018
19th Feb 201910:00 amPRNHolding(s) in Company
13th Feb 20197:00 amPRNTrading Statement for six months ended 31 Dec 18
25th Jan 20197:00 amPRNOperational Update for the six months to 31.12.18

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.