The share price of midtier gold mining company Pan African fell on Wednesday, following the outline of a mixed share placing-and-debt funding package for the R1.7-billion Elikhulu gold tailings project. The London Aim- and JSE-listed company, headed by CEO Cobus Loots, said in a Stock Exchange News Service announcement that the funding package would be used to fast-track development of Elikhulu, following the publication of last year’s definitive feasibility study (DFS) on its capacity to produce 56 000 oz of gold a year for its first eight years of operations and 45 000 oz for the remaining five years.
