Pan African Resources Plc - Update re 21 Day Covid-19 Lockdown
(Incorporated and registered in and
under Companies Act 1985 with registered number
3937466 on )
Share code on AIM: PAF
Share code on JSE: PAN
("" or "the Company" or "the Group")
UPDATE REGARDING THE 21-DAY COVID-19 LOCKDOWN AND IMPACT ON GROUP OPERATIONS
Further to the Company’s announcement on , informs shareholders that the Company has implemented the necessary measures at all its operations to conduct essential services during the 21-day lockdown period (the “National Lockdown”).
The Group’s actions are consistent with the regulations announced by President on Monday , and enacted in terms of the South African Disaster Management Act (“the Regulations”), as well as with additional applicable regulations and requirements pertinent to the National Lockdown. The Regulations are effective midnight to midnight , in an effort to contain the spread of the COVID-19 (coronavirus) pandemic.
Essential services specific to affected Pan African Resources’ operations include security services, pumping and ventilation activities, metallurgical plant maintenance, inspection of underground workings, management and monitoring of tailings deposition facilities, waste management and water treatment facilities and other health and safety related services.
As part of essential services, the Group is also currently conducting limited surface re-mining and processing activities at its Elikhulu Tailings Retreatment Plant and at its Barberton Tailings Retreatment Plant (collectively the “Group surface operations”). The Group surface operations are currently operating at approximately 70 per cent of normal capacity. Barberton Mines will, in the next few days, endeavour to resume limited operations at certain high-grade sections of its Fairview operation to ensure the required minimum feed for its BIOX ® processing plant.
supports and is committed to all government efforts to contain the spread of COVID-19. Of the Group’s total staff and contractor complement, only 20 per cent (excluding security staff) are involved in the essential services detailed above. Employees and contractors not required for essential services will remain at home for the duration of the National Lockdown, as required by the Regulations.
Further measures to reduce the risk of COVID-19 contamination of essential service personnel include the following:
has approved the Group’s planned activities during the National Lockdown, subject to compliance with and adherence to all relevant Regulations and applicable legislation.
The COVID-19 pandemic is expected to have a severe adverse economic and social impact on stakeholders involved in the Group’s operations. The Group will, in the coming weeks, embark upon initiatives to assist stakeholders in this regard in the areas in which we operate.
Updated guidance for the 2020 financial year will be communicated to shareholders after the National Lockdown has concluded, once the Group is in a position to quantify the extent and duration of the operational disruptions during this time.
, CEO of , commented: "In this time of crisis, we are heartened by the manner in which all stakeholders in the mining industry are collaborating. recognises that the adverse effects of the COVID-19 pandemic will be severe and far reaching. The impact will be even more pronounced in areas with limited resources and poverty. Recognising the economic and social hardship that communities and employees will experience during the National Lockdown, the Company will embark on support programmes, in addition to our existing initiatives, to alleviate this hardship.
will continue to provide shareholders with regular updates regarding developments at Group operations.”
For further information on , please visit the Company’s website at
-- Where possible, relevant staff members are housed in dedicated, restricted-access housing facilities for the duration of the lockdown; -- Continuous screening and monitoring, including thermal temperature monitoring, of staff members for COVID-19 symptoms have been implemented; -- Standby medical support; and -- Rigorous social distancing and sterilisation/hygiene protocols, which are in place.
Contact information Corporate Office Registered Office Suite 31 2nd Floor, Office 204 Second Floor Cnr. Cradock and Biermann Avenues 107 Cheapside Rosebank, EC2V 6DN Office: + 27 (0)11 243 2900 United Kingdom Office: + 44 (0)20 7796 8644 Chief Executive Officer Financial Director Office: + 27 (0)11 243 2900 Office: + 27 (0)11 243 2900 / St James's Company Secretary Nominated Adviser and Joint Broker Office: + 44 (0)20 7796 8644 Office: +44 (0)20 7260 1000 / Joint Broker Office: +44 (0)20 7418 8900 Office: + 27 (0)11 011 9200 / Public & Investor Relations SA Joint Broker Office: +27 (0)11 880 0037 Office: +44 (0)20 7236 1010 Website:
The Firs Office Building Johannesburg London South Africa[email protected]www.panafricanresources.com Cobus Loots Deon Louw Phil Dexter Jane Kirton John Prior Ciska Kloppers Ross Allister David McKeown JSE Sponsor Julian Gwillim Thomas Rider Neil Elliot Pan African Resources PLC Pan African Resources PLC Corporate Services Limited Numis Securities Limited Questco Corporate Advisory Proprietary Peel Hunt LLP Limited Aprio Strategic Communications BMO Capital Markets Limited
Quick facts: Pan African Resources plc
Market Cap: £395.31 m
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