REG-Pan African Resources PLC: Evander Fatality & Shaft Refurbishment Programme <Origin Href="QuoteRef">PAFR.L</Origin>

Pan African ResourcesAnnouncement

20/02/2017 07:05

Pan African Resources PLC
(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
(“Pan African” or the “Company”)

EVANDER GOLD MINING PROPRIETARY LIMITED (“EVANDER”) FATALITY AND SHAFT
REFURBISHMENT PROGRAMME

FATALITY

It is with deep regret that Pan African reports that a mining accident
occurred at the Evander 7 shaft complex on 15 February 2017.  Mr Velile
Chaplin Kapa (54), an Engineering Assistant employed by the operation,
sustained a fatal head injury when a section of the main shaft pump column
failed whilst he was working in the shaft bottom area. Pan African’s
management and board express their sincere condolences to the family, friends
and colleagues of Mr Kapa.

SHAFT REFURBISHMENT PROGRAMME

Shareholders are referred to the Trading Update, released on 5 December 2016,
in which Pan African, inter-alia, disclosed details of the refurbishment
programme being conducted at Evander’s 7A shaft.

In conjunction with the 7A shaft refurbishment programme, Evander’s
management initiated a number of independent and internal engineering studies
to assess the condition of Evander’s underground mining infrastructure (both
Evander 7 and 8 shafts). These studies identified critical infrastructure
issues requiring remedial action, to ensure safe and sustainable operation of
these shafts.

The nature of these refurbishments require a suspension of Evander’s
underground mining operations for a period of up to 55 days, during which
critical infrastructure issues will be addressed. Evander’s tailings and
surface operations will be unaffected by the underground mining suspension.

The cost of the shaft refurbishment programmes is expected to be approximately
R40 million, which will be funded from the Company’s existing banking
facilities.   

In light of these recent developments, Pan African has revised its gold
production guidance for the financial year ending 30 June 2017 from 195 000
ounces to approximately 181,000 ounces.

Pan African’s interim results for the period ended 31 December 2016 will be
released on 22 February 2017.  Further detail on the Evander underground
refurbishment programme will be made available as part of this interim
presentation.

20 February 2017

CONTACT INFORMATION

Corporate Office
The Firs Office Building
1st Floor, Office 101
Cnr. Cradock and Biermann Avenues
Rosebank, Johannesburg
South Africa
Office: + 27 (0) 11 243 2900
Facsimile: + 27 (0) 11 880 1240

Registered Office
Suite 31
Second Floor
107 Cheapside
London
EC2V 6DN
United Kingdom
Office: + 44 (0) 207 796 8644
Facsimile: + 44 (0) 207 796 8645

 Cobus Loots                            Deon Louw                               
 Pan African Resources PLC              Pan African Resources PLC               
 Chief Executive Officer                Financial Director                      
 Office: + 27 (0) 11 243 2900           Office: + 27 (0) 11 243 2900            
                                                                                
 Phil Dexter                            John Prior / Paul Gillam / James Black  
 St James's Corporate Services Limited  Numis Securities Limited                
 Company Secretary                      Nominated Adviser and Joint Broker      
 Office: + 44 (0)207 796 8644           Office: +44 (0)207 260 1000             
                                                                                
 Matthew Armitt / Ross Allister         Sholto Simpson                          
 Peel Hunt LLP                          One Capital                             
 Joint Broker                           JSE Sponsor                             
 Office: +44 (0)020 7418 8900           Office: + 27 (0) 11 550 5009            
                                                                                
 Julian Gwillim                         Bobby Morse/Chris Judd                  
 Aprio Strategic Communications         Buchanan Communications                 
 Public & Investor Relations SA         Public & Investor Relations UK          
 Office: +27 (0)11 880 0037             Office: +44 (0) 207 466 5000            

Jeffrey Couch/Neil Haycock/Thomas Rider
BMO Capital Markets Limited
Joint Broker
Office: +44 (0) 207 236 1010

www.panafricanresources.com



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