Pan African capital raise puts gold project on fast track

Midtier gold mining company Pan African Resources has successfully raised R705-million in a share placing, the net proceeds of which will be used, together with a R1-billion seven-year debt facility, to fast-track the high-return Elikhulu gold tailings project in Mpumalanga. Pan African CEO Cobus Loots drew grateful attention to the good support the company received in the placing from both new and existing investors.