[miningmx.com] – PAN African Resources said it had received the final tranche completing the sale of its remaining interest in the Mozambique gold prospect, Manica, to Auroch Minerals.
“Even though the total settlement amount is less than the A$2m settlement amount previously agreed, the transaction allowed for earlier payment and provided completion certainty to Pan African,” the company said in an announcement.
“The conclusion of the Transaction further allows Pan African to focus on its core asset portfolio,” it said. Auroch paid Pan African a total amount of A$850,000 “… in full and final settlement and to satisfy all of its outstanding obligations, including A$350,000 that was paid to Pan African in the last week,” the company said.
