Jun 28th 2012 - Edison Investment Research today published a report on Pan African Resources (PAF.L, LSE:PAF, LON:PAF) entitled "New Deal". In summary, the report says:
On 30 January, Pan African Resources and Wits Gold jointly announced that had formed a consortium to buy Evander Gold Mines (EGM) from Harmony for ZAR1.7bn. On 30 May, arrangements were revised such that Pan African will be the sole buyer of EGM (100% interest) for a revised price of ZAR1.5bn (US$181m), equivalent to US$5.26 per resource ounce and at an 85% discount to the Wits basin average.
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