Last checked at 23 Mar 2011 07:00
23 March 2011 Pan African Resources PLC (`Pan African' or the `Company')
Incorporated and registered in England and Wales under Companies Act 1985 with
registered number 3937466 on 25 February 2000 AIM: PAF/JSE: PAN ISIN: GB0004300496 Pan African Commences Bulk Earthworks at Phoenix Platinum
Pan African, the African focused precious metals producer, has today commenced bulk earthworks* at its Phoenix Platinum Project (`Phoenix') in the North West Province of South Africa.
The construction of the Chrome Tailings Retreatment Plant (`CTRP') at Phoenix is on schedule and the procurement of major equipment has been completed. Plant construction is scheduled to start in mid-May 2011 with plant commissioning planned for October 2011. The CTRP full production rate of 20,000 tons per month is expected to be achieved in the first quarter of 2012.
Jan Nelson, Chief Executive Officer of Pan African commented: "This is another key milestone in the process of Pan African becoming a platinum producer in addition to the Company already producing approximately 100,000 ounces of gold per annum. We are delighted with the progress on site, which is on schedule and on budget. We look forward to reporting first production later this year."
* Bulk earthworks is the commencement of site clearance prior to plant construction
ENDS
For further information on Pan African Resources plc, please visit the website at www.panafricanresources.com
South Africa UK Pan African Resources RBC Capital Markets Jan Nelson, Chief Executive Officer Martin Eales +27 (0) 11 243 2900 +44 (0) 20 7653 4000 Pan African Resources St James's Corporate Services Limited Nicole Spruijt Phil Dexter +27 (0) 11 243 2900 +44 (0) 20 7499 3916 Macquarie First South Advisers (Pty) Ltd Gable Communications Melanie de Nysschen / Yvette Labuschagne / Justine James Annerie Britz +44 (0) 20 7193 7463 +27 (0) 11 583 2000 +44 (0) 7525 324431
vendor