Pan African completes Evander acquisition
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.
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