Company Information for Pan African Resources PLC

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Company Statement

Pan African is a gold mining company that produces approximately 100,000oz per year. Its focus is on developing low cost, high margin production or near production projects. The Company has no debt, is unhedged and is able to fund all of its current on-mine capital from current cashflows.

The recent acquisition of Phoenix Platinum Mining (Pty) Ltd (Phoenix Platinum) does not change the gold focus of the Company. Preliminary sampling and recovery results have exceeded expectations and management’s proactive actions could see plant construction as early as the first half of 2010, with production likely in first half of 2011. However, this production outlook is sensitive to management’s ability to secure plant location.

Current Operations

Barberton Mines, South Africa
Barberton first produced gold in 1886, after the discovery of the first gold nugget by Edwin Bray.

The mining complex consists of three mines: Fairview, Consort and Sheba. At present Barberton produces approximately 100,000oz of gold per annum, at an average cash cost of approximately US$45/oz, this cash cost is substantially lower than the industry standard of US$XX/oz (Source: BJM).

Barberton Mines is the birthplace of BIOX® (‘Biological Oxidation’), an environmentally friendly process of releasing the gold from the sulphide that surrounds, using organisms that perform this process naturally. Barberton is still used as the training facility for all BIOX® plants globally.

Phoenix Platinum, South Africa

• Option exercised to acquire 100% of Phoenix: effective May 2009
• Phoenix owns rights to contained PGM's in historical and future chrome tailings
• Total cash consideration of £5.2 million (estimated, in-house NPV of £27.6 million)
• Estimated required capex to production: £6 million

Manica Gold Project, Mozambique
The Manica licence area is situated in central Mozambique approximately 4km north of the town of Manica, which lies approximately 270km inland of the port city of Beira.

The licence area is centred on latitude 18°53’ degrees south and longitude 32°54’ east and lies close to the Mozambican border with Zimbabwe. The Zimbabwean town of Mutare is about 5km from the Mozambican-Zimbabwean border.

Manica is on the so-called “Beira Corridor”, a major road and rail route linking Zimbabwe with the Mozambican port of Beira on the Indian Ocean. The exploration project area is easily accessible by dirt road from Manica. Manica is served by sealed roads from Beira and from Harare in Zimbabwe. Scheduled air services link the nearby town of Chimoio with large regional centres such as Maputo, Harare and Beira. 

Geographical Spread

Africa

Board of Directors and Key Management

Cyril Ramaphosa	Non-Executive Chairman
Keith Cousens Spencer	Non-Executive Deputy Chairman
Jan Nelson	Chief Executive Officer
Cobus Loots	Finance Director
John Hopwood	Independent, Non Executive Director
Rob Still	Non Executive
Rowan Smith	Non-Executive Director

Company Address St James's Corporate Services Limited 6 St James's Place London, SW1A 1NP Telephone: +27 11 777 7840 Facsimile: +27 11 777 7843 Email: nicole[at]paf.co.za Website: http://www.panafricanresources.com

Additional Address/Key Contact Public Relations and Investor Relations St James's Corporate Services Limited (c/o: Phil Dexter) 6 St James's Place London SW1A 1NP United Kingdom Tel: + 44 (20) 7499 3916 Fax: + 44 (20) 7491 1989 Email: phil.dexter@corpserv.co.uk

Capital The current number of shares in issue as of 31 August 2009 is 1,408,340,711.

Annual General Meeting July

Year End 30 June

Nominated Brokers RBC Capital Markets (c/o: Martin Eales) 71 Queen Victoria Street London EC4V 4DE Tel: + 44 (0) 20 7029 7881 Fax: + 44 (0) 20 7029 7924 Web: http://www.rbccm.com/

Nominated Advisors RBC Capital Markets

Major Shareholders

Shareholder	No of Shares	%
Shanduka Gold	366,168,585	26.00
Coronation Fund Managers Limited	241,317,880	17.13
Maitland Fund Services	86,020,313	6.11
Allan Gray Investment Council	71,288,219	5.06
Brait S.A.	69,326,975	4.92
JP Morgan Asset Management (UK)	60,000,000	4.26
Pangea Exploration (Pty) Ltd	45,601,534	3.24

Related News

29/10/09 - A New Life Opens Up For Pan African Resources Now It No Longer Has Metorex As A Major Shareholder
10/06/09 - Profits Continue To Roll In From Pan African's Barberton Gold Mines, And Now There’s Platinum Production On The Way Too
23/12/08 - Pan African Needs To Keep Its London Fan Club In Touch With Events
28/04/08 - Pan African Sitting Pretty With Cash Flow And Exploration

Most Recent Statement

07/01/10 - RENEWAL OF CAUTIONARY ANNOUNCEMENT
26/11/09 - Statement re Transfer of Listing on the JSE
17/11/09 - Statement re Posting of Annual Report and Notice of AGM
16/10/09 - Director/PDMR Shareholding
30/09/09 - Further re aquisition of Phoenix Platinum
01/09/09 - Total Voting Rights