The biggest takeaway from the hugely profitable Mogale tailings retreatment (MTR) operation that was commissioned west of Johannesburg by Pan African Resources on Thursday is that one can make a huge success and look forward to very rapid payback by investing in South Africa. “It’s quite ironic. We’ve been pretty much all over Africa looking for opportunities in terms of expanding our business and ultimately we’ve come back to South Africa and less than an hour from our corporate office, we have 1.1-million ounces of recoverable gold reserve here, and we acquired all of it for just over $1/oz, which is fantastic,” remarked an ebullient Pan African CEO Cobus Loots to Mining Weekly. (Also watch attached Creamer Media video.)
