04:41 AM EDT, 09/11/2026 (MT Newswires) -- Pan African Resources (PAF.L, PAN.JO) completed the definitive feasibility study for its Soweto tailings retreatment project in South Africa, which is designed to operate in conjunction with the nearby Mogale Tailings Retreatment operation. The Africa-focused gold producer said Friday the project is estimated to return a post-tax net present value, discounted at 13%, of 1.85 billion South African rand, a 29.55% real ungeared internal rate of return, and a three-year payback period, assuming a gold price of $3,550 per ounce. The value-engineered project capital estimate stood at 3.68 billion rand. The project is expected to produce 35,000 ounces to 40,000 ounces of gold annually, with life-of-mine production of 561,000 ounces, over a 15-year mine life. Pan African expects to issue a final investment decision in December, subject to financing and regulatory approvals.

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