Back to the drawing board for Pan African's Royal Sheba plans
Pan African Resources sticks to its full-year gold target and raises the outlook for 2020 as it starts fresh underground mining at Evander
17 May 2019 - 13:49
Pan African Resources said on Friday it had scaled back its expectations of its vaunted Royal Sheba prospect as it stuck to its 2019 full-year production target and raised its output level for the following year as a new R70m project delivered additional gold.
Pan African had spoken at length of the potential for a low-cost opencast mine at Royal Sheba near its Barberton underground mines, but in its latest update to the market it says the project doesn’t meet the financial criteria the company set for new ventures...
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