Pan African expands into Australia with Tennant Creek gold acquisition
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Pan African Resources is expanding into Australia by acquiring the remaining 92% of Tennant Consolidated, a gold project developer, for $54.2 million. This move follows their initial 8% stake acquisition in March for $3.4 million.
November 05, 2024 | 12:30 pm
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Pan African Resources is acquiring the remaining 92% of Tennant Consolidated for $54.2 million, expanding its gold mining operations into Australia.
The acquisition of Tennant Consolidated allows Pan African Resources to expand its operations into a new geographical area, potentially increasing its gold production and revenue. This strategic move is likely to be viewed positively by investors, leading to a potential short-term increase in stock price.
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