PAN AFRICAN RESOURCES PLC [miningmx.com] – Jan Nelson, chief executive officer for small-cap gold miner Pan African Resources Plc, has quit. This was announced on the Stock Exchange News Service (SENS) late on Wednesday afternoon with the share price immediately dropping more than 4%.
The resignation is effective from 1 March 2013. According to the SENS announcement, he remains a director of Auroch Minerals, the holding company of the Manica Gold Project. He will continue to advise the company in the short term.
Chief operating officer, Ron Holding, and former finance head, Cobus Loots, have been appointed joint CEOs in the interim until a successor is found.
Referring to the recent Evander Gold Mines acquisition, Nelson told shareholders: “I thank the Board for its good wishes and am proud to leave the Company following the successful achievement of such a significant milestone. I believe Evander will contribute significantly to Pan African’s medium- to long-term growth, and my best wishes accompany all the staff and other stakeholders in Pan African.’
By 4:30 on Wednesday, the share was down 4.7% to R2.25.
