Pan African Resources says negotiations ongoing
Pan African Resources (LON:PAF) revealed today that negotiations are still in progress, which if successful may have a "material effect" on the price of its securities.
The firm released a cautionary announcement on November 17 this year, which told investors that the firm had entered into negotiations.
Today, in a stock exchange statement, it said: "Shareholders are advised that negotiations are still in progress, which if successfully concluded may have a material effect on the price of the securities of the company.
"Accordingly, shareholders are advised to exercise caution when dealing in the company's securities, until a full announcement has been made."
Pan African is a gold mining company focused on projects in South Africa and Mozambique and that produces around 100,000 ounces per year.
Its focus is on developing low cost, high margin production or near-production projects.
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