PAN African Resources eyeing Zim

ng in on listed Falgold and unlisted Olympus mines.
CAG intends to invest US$30 million to raise output to 100 000 ounces over the next five years.
Zimplats has also committed US$258 million on its Ngezi Phase II project.
Pan African chief executive Jan Nelson in a statement posted on the company’s website made it clear that the mining concern was looking to diversify into other African countries, but would not give specifics.
“Wherever opportunities arise in Africa we are up for the challenge be it in Zimbabwe, DRC or Sudan,” he said.
Pan African will soon embark on a pre-feasibility study of its Manica gold project in Mozambique, next to the Zimbabwe border town of Mutare.
“We are also pursuing organic growth with Manica where the bankable feasibility study will be initiated towards the end of this year.
“This is later than previously planned as we have extended the drilling programme on this project given encouraging results so far,” he said.
Nelson indicated that the central African region was highly prospective and was worth the risk because it “is one of the last unexplored geological frontiers in the world.”
Pan African Resources is a mid-tier gold production and exploration company with assets in Mozambique, Central African Republic and a regional exploration focus in Ghana.
The company’s portfolio includes the Manica project in Mozambique which has an independently verified resource of 1,5 million ounces, two projects in the Central African Republic, Begoin and Dekoa, in two of the major four known greenstone belts, plus the highly prospective Akrokerri Exploration license in Southern Ghana.