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Pan African CEO: Jadeite deal hits “two flies with one swat”

Published: 14:06 02 Jun 2016 BST

Cobus Loots, chief executive of Pan African Resources plc (LON:PAF), says the company’s recent agreement to acquire Jadeite Limited’s 33.6% stake in Shanduka Gold hits “two flies with one swat.”

He says it was important for Pan African to “secure our empowerment credentials”, a key demonstration of good corporate governance in South Africa.

It shows a company’s commitment to previously disadvantaged communities (PDCs), such as people of colour, women and the disabled.

Secondly, he continues, “it’s a deal that will be massively value accretive to Pan African shareholders.”

Loots also confirms that the company is on track to meet its production guidance at both its Barberton and Evander gold mines, and believes everything “bodes well for the future.”

Pan African Resources on track to meet full-year guidance after strong first...

Pan African Resources PLC (AIM:PAF, OTCQX:PAFRY, JSE:PAN, OTCQX:PAFRF) CEO Cobus Loots takes Proactive's Stephen Gunnion through the company's interim results to 31 December 2023. The mining firm experienced a significant uptick in performance, driven by increased production and a favourable...

on 14/2/24