[miningmx.com] – PAN African Resources could expand beyond South Africa’s borders provided it can improve the health of its balance sheet – a development that turns on mining high grade areas at its Evander mine, said BDLive.
Citing outgoing CEO, Ron Holding, BDLive said Pan African had R200m of undrawn debt facilities and expected to pay down the R400m of debt it had incurred “quite quickly”.
The key is moving the Evander mine into a high-grade area out of the low-grade area that hammered the group’s profit in the six months to end-December said BDLive.
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