Pan African Resources for 2006 (PAF) Moderated

Here's the last RNS re: Manica. 14-11-06
LONDON (AFX) - Pan African Resources PLC, an African gold exploration
company, said the results from an independent mining evaluation of the Fair
Bride prospect at its Manica gold project in Mozambique showed the deposit to be
"commercially viable" under current economic conditions, with a life of mine
(LOM) average production of 84,000 ounces of gold per annum.
The company said the study calcualted an ungeared, pretax and royalty net
present value for the prospect of 39 mln usd at a gold price of 600 usd an ounce
and a discount rate of 12 pct.
Pan African said the results show a significanlty higher sulphide grade than
an earlier resource estimate.
It added that the study also estimated an open pit mine life of 8.5 years
and a life of mine average cash operating cost of 387 usd per ounce.


I think this in conjunction with today's news shows what a great prospect this will be and especially if we get any more positive updates about Manica before the re-list.

I'm happy.