w Action esults - PAN AFRICAN RESOURCES · 2020. 2. 15. · Tantacnrn uh cntf Musat frrFcfnti n utr...

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The African Focused Precious Metals Producer

People

Action

Results

Audited Annual Results 2012

2

Overview of Presentation


  Group Results and Strategic Outlook   Barberton Gold Mining Opera�ons   Barberton Tailings Retreatment Project (‘BTRP’)

  Phoenix Pla�num Opera�ons   Evander Gold Mines   Outlook

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Group Results & Strategic Outlook

4

Group Results and Strategic Outlook

Revenue The African Focused Precious Metals Producer

0

20,000

40,000

60,000

80,000

100,000

120,000

£(0

00)

£ 39,254,557

12 months ended30 June 2008




12 months ended 30 June 2012

£ 53,000,352

£ 68,506,394

£ 79,208,399

£101,068,596

5


Attributable Profit / Loss


0

5,000

10,000

15,000

20,000

25,000

30,000

35,000


Attibutable Profit Impairment





£5,460,074

£9,429,998

£14,612,633

£17,168,665

£29,289,872

£(0

00)

6


Headline Earnings per Share


0.0 p/share

0.5 p/share

1.0 p/share

1.5 p/share

2.0 p/share

2.5 p/share

0.52






0.85

1.07

1.20

2.03

7


Group Capital


0

50 000 000

100 000 000

150 000 000

200 000 000

250 000 000

300 000 000

Year ended30 June 2008





Phoenix mineral rights

253 182 424

213 666 072

70 604 96358 314 612

42 598 277

ZAR

Phoenix plant construction

Barberton mines maintenance capital Barberton mines development capital

Barberton mines BTRP

8

Group Results and Strategic Outlook Key Drivers to continued Dividend Growth


9


Project Summary


Type Operation Attributable

Cumulative

Attributable

Position

Status

Acquis

itiv

e

Gold

Evander *Gold Mines

(100% attributable)

100,000oz

(850/oz)

227,000oz

($ 780/oz) By September 2012*

Organic

PG

M’s

Phoenix Platinum †

CTRP

(equivalent AU ounces)

(100% attributable)

12,000oz

($ 450/oz)

127,000oz

($752/oz)In production

Gold

BTRP

(100% attributable)

20,000oz

($800/oz)

115,000oz

($783/oz)By June 2013

Barberton Gold

Mining Operations

(100% attributable)

95,000oz

($780/oz)

95,000oz

($780/oz) In Production

† Platinum (56.5%), Palladium (27%), Rhodium (16%) and Gold (0.5%)

10


An Integrated Business Approach


Arrows represent a common understanding, respect and attitude towards safe performance behaviour delivering on company strategy that rewards all stakeholders.

Shareholders

Employees and business partners

Communities around our mining operations

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Barberton Gold Mining Operations

12


Barberton at a glance


Name Barberton Mines (Pty) Limited

Location Mpumalanga Provice

Status Gold producer

Holding Company Pan African Resources PLC (100% stake)

Controlling Company Pan African Resources PLC

Geological Setting Sediments and metavolcanics within the Barberton greenstone belt

Products Mined Gold

Actual Production Tonnes Per Annum 315,000

Grade (recovered) 10.45g/t

Gold Produced 95,000oz

Ongoing Capex £6.8 million per annum

Extraction Method BIOX® / Carbon-in-leach (‘CIL’)

LOM 17 years

Key ManagementExecutive: Mining Ron Holding

General Manager Casper Strydom

13


Accident Rates


0

1

2

3

4

5

6

7






4.8

3.1

6.4

1.7

4.2

1.1

2.2

0.7

3.26

0.74

Lost time injury rate Serious injury rate

14


Total Recordable Injury Frequency


0

10

20

30

40

50

60

50.8

37.8

33.3

22.625.1






15


Production Statistics


0

50,000

100,000

150,000

200,000

250,000

300,000

350,000

0

3

6

9

12

2008

Fairview Sheba GradeConsort Vamping Tonnes

2009 2010 2011 2012

Ton

s m

illed

Hea

dg

rad

e (g

/t)

16


Gold Produced


0

20000

40000

60000

80000

100000


Underground Surface




Year ended 30 June 2012

94,449 oz92,043 oz

97,483 oz98,864 oz95,949 oz

oz o

f go

ld p

rod

uce

d

17


Total Cash Cost


0

200

400

600

800

1000

1200

1400

1600

1800

Cash cost/oz Average gold price received $/oz

2008 2009 2010 2011 2012

US$/

oz

18


Cash Cost Breakdown



Totals:£46,122,811

R566,031,940US$776 oz

Salaries Mining Processing Engineering Electricity Security Other

49%9%

11%

5%4%

9%

13%


Totals:£45,345,417

R503,592,598US$781 oz

46%8%

10%

7%4%

10%

15%

19


Capital Expenditure


0

2,000

4,000

6,000

8,000

10,000

12,000


Development Capital Maintenance Capital BTRP




Year ended 30 June 2012

£10,739,237

£6,773,728

£5,918,271

£4,082,440

£2,901,790

£(0

00)

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Barberton Tailings Retreatment Project

(‘BTRP’)

21

Barberton Tailings Retreatment Plant (‘BTRP’) BTRP at a glance


Name of Project Barberton Tailings Retreatment Plant

Location Mpumalanga Province

Status Under Construction

Holding Company Barberton Mines (Pty) Limited

Controlling Company Pan African Resources PLC (100% Ownership)

Geological Setting Tailings dams situated on the BML property

Producted produced Gold

Production forecast Tons per annum 1.2 million tons

Head Grade 1.47g/t - Bramber Dams

Content per year 20,000 ounces

Estimated Capital Cost £24.4 million (ZAR300m)

Extraction Method Carbon in Leach (CIL)

LOM 9 years

Key Management General Manager Casper Strydom

Metallurgical Manager Jonathan Irons

Project Engineer Richard Kunneman

22

BTRP

Review of BTRP


& & & & & &

& & & & & & & & & & & & & & &

& & & & & & &&&& & & & & & & & & &&

23

BTRP

Project Timelines


2012 2013

Plant Construction Progress July August September October November December January February March April May June

Contract Approval Complete

Process Design Complete

Drawings and Design Complete

Ground Breaking Ceremony

Complete

Bulk Earthworks Complete

Civil Construction In Progress

Mechanical / Structural / E&I Construction To Commence

Commissioning To Commence

Major Infrastructure

Water Reticulation To Commence

Electrical Reticulation (Eskom) In Progress

Environmental Impact Assessment

EIA In Progress

Water Use Licence Amendment In Progress

Tailings Storage Facility

Design In Progress

Construction To Commence

24

BTRP


& & & & & &% % % % % %

25

BTRP


& & & & & && & & & & &

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Phoenix Surface Platinum Operations

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Chrome Tailings Retreatment Plant


& & & & & &

% % % % % %

% % %

28


Accident Rate


0

1

2

3

4

5

6

7

0,000,000,000,000,000,000,000,000,000,000,000,00

Jul-1

1

LTIFR RIFR

Aug

-11

Sept

-11

Oct

-11

Nov

-11

Dec

-11

Jan-

12

Feb-

12

Mar

-12

Apr

-12

May

-12

Jun-

12

There were zero accidentsrecorded during the period shown in the graph

29


Production Statistics


0

5 000

10 000

15 000

20 000

25 000

0,0

0,5

1,0

1,5

2,0

2,5

3,0

3,5

4,0

4,5

5,0

Dec-11 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12

Plant feed (tonnes) Head grade (g/t)

11 625

14 239

18 382

15 616

21 99423 281

Ton

nes

mill

ed

Hea

d g

rad

e (g

/t)

19 327

30


PGM Produced


0

100

200

300

400

500

600

700

800

900

Dec-11

Ounces produced 6E PGE oz

Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12

705

439

777

405

122

587

439

Oz

of P

GM

s p

rod

uce

d

31


Capital Expenditure The African Focused Precious Metals Producer

0

5 000 000

10 000 000

15 000 000

20 000 000

25 000 000

30 000 000

35 000 000

Q1

Capital expenditure

Q2 Q3 Q4

1 230 192

3 535 162

14 200 696

31 195 245

ZA

R

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Evander Gold Mining Operations

33


Evander at a glance


Name Evander Gold Mines Limited

Location Mpumalanga Province (South Africa)

Status Gold producer

Holding Company(current)

Harmony Gold Mining Company (100% stake)PAR offer to pruchase 100% stake

Controlling Company Harmony Gold

Geological Setting Evander Basin of the Witwatersrand Gold Field

Products Mined Gold

Average Production

Tons per annum 400,000

Grade (recovered) 7.1g/t

Content per annum 100,000oz

Ongoing Capex R100 million per annum

Extration Method CIP

LOM 15 years

Key ManagementExecutive Mining Ron Holding

General Manager Manny da Silva

34



& & & & & &

& & &

& & &

&

& & & & & && & & & &

& &

& & & & & & &

&

&

& &

&

& &

& & & &

&

&

& &

& & &

!"#$%&'()*$*$+(,-'./0'*1#.*0$

35



& & & & & &

36


Gold Produced - Evander


0

20 000

40 000

60 000

80 000

100 000

120 000

140 000


Underground Surface





119 069 118 009

96 539

87 887

108 287

Oz

37


Production Statistics – Evander


0

200 000

400 000

600 000

800 000

1 000 000

0

1

2

3

4

5

6

686 087 700 022

872 670830 814

636 456

2008

SurfaceHead grade

Underground

2009 2010 2011 2012

Gra

de

Tons

38


Total Cash Cost vs Average Gold Price


0

500

1 000

1 500

2 000

2008

Company cash cost/Oz Average gold price received

2009 2010 2011 2012

US$

/Oz

39


Evander Projects – Mineral Resources & Reserves


ProjectMineral Resources Mineral Reserves

Tonnes(Mt)

Grade(g/t)

ContainedAu (Moz)

Tonnes(Mt)

Grade(g/t)

ContainedAu (Moz)

E8 19.30 10.76 6.68 4.85 7.68 1.150

Rolspruit 25.52 10.81 8.87 23.36 8.60 6.46

Poplar 34.88 6.27 7.03 - - -

Evander South 29.84 6.42 6.16 - - -

Libra / Mini-Libra 202.91 0.29 1.90 39.62 0.32 0.41

Total 312.46 3.05 30.63 67.83 3.70 8.02

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Outlook

41

Outlook


  Conclude Manica transaction

  Conclude Evander transaction

  Successful integration of Evander into Pan African Group

  Stabilise feed source variability at Phoenix Platinum

  Complete BTRP project

  Maintain consistent production and grade at Barberton Gold Mines and explore regional opportunities

Disclaimer


This presentation is provided on a confidential basis. The name 'Presenter' refers to Pan African Resources PLC and its advisors, subsidiaries or affiliated companies. This presentation has not been filed, lodged, registered or approved in any jurisdiction and recipients of this document should keep themselves informed of and comply with and observe all applicable legal and regulatory requirements. Statements or assumptions in this presentation as to future matters may prove to be incorrect. The Presenter makes no representation or warranty as to the accuracy of such statements or assumptions. Circumstances may change and the contents of this presentation may become outdated as a result, and the Presenter has no obligation to update the presentation or correct any inaccuracies or omissions in this presentation. Recipients should not treat this presentation as advice relating to legal, taxation or investment matters and are advised to consult their own professional advisers. This presentation may not be reproduced in whole or in part, nor may any of its contents be divulged to any third party without the prior consent in writing of the Presenter. The recipient acknowledges that neither it nor the Presenter intends that the Presenter act or be responsible as a fiduciary to the recipient, its management, stockholders, creditors or any other person. Each of the recipient and the Presenter, by accepting and providing this presentation respectively, expressly disclaims any fiduciary relationship and agrees that the recipient is responsible for making its own independent judgments with respect to any transaction and any other matters regarding this presentation. Furthermore, the information contained in this presentation may also qualify as “inside information” as defined in the Securities Services Act, 36 of 2004 (“SSA”). In terms of the SSA, it is a criminal offence for a person who knows that he or she has inside information to –   deal directly or indirectly or through an agent for his or her own account, or for the account of another person, in listed securities to which the inside information relates;   disclose the inside information to another other than in the proper course of a person’s employment, profession or duties; and   encourage or cause another person to deal or discourage or stop another person from dealing in the listed securities to which the inside information relates.

The Presenter makes no representations as to the actual value which may be received in connection with a transaction nor the legal, tax or accounting effects of consummating a transaction. Unless the expressly contemplated hereby, the information in this presentation does not take into account the effects of a possible transaction or transactions involving an actual or potential change of control, which may have significant valuation and other effects. The Presenter shall not have any liability for any loss suffered due to reliance being placed on this presentation, the information contained herein or the oral presentations referred to. This presentation is for information purposes only and does not constitute an offer or invitation to subscribe for or purchase any securities, and neither this presentation nor anything contained therein nor the fact of its distribution shall form the basis or be relied on in connection with or act as any inducement to enter into any contract or commitment whatsoever.

42

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THANK YOU

44

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