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Pan African completes Evander acquisition

14th March 2013

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

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JOHANNESBURG (miningweekly.com) – Johannesburg- and London-listed Pan African Resources on Thursday said the R1.5-billion deal with gold miner Harmony had been completed and that it had taken control of the Evander operations, in Mpumalanga.

The group, which secured the final approval in mid-February, settled the purchase consideration in full.

The deal was funded through a combination of cash resources and bank funding.

Pan Africa reported available operational cash resources of R157.4-million as at March 13.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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