Pan African's Poplar discovery near Evander draws early co-investment interest

Pan African Resources revealed on 19 June 2026 that several parties had approached the company expressing interest in co-investing in its Poplar gold project, a prospective underground mine roughly six kilometres north of its existing Evander Mines complex in Mpumalanga. Chief executive Cobus Loots said the level of interest was "uncommon for a deposit at such an early evaluation stage," with no feasibility study yet completed.

A sizeable Witwatersrand target

Poplar carries an estimated resource of about 6.6 million ounces of gold at a grade of roughly 7 grams per tonne, at a projected mining depth of around 500 metres. Early indications point to potential annual production in the order of 100,000oz, which — if it advances to production — would meaningfully add to Pan African's existing Evander output and extend the life of the surrounding Witwatersrand Basin infrastructure the company already operates.

Still an early-stage project

Pan African stressed that no final investment decision has been made and that Poplar remains at an early stage of technical evaluation. The approaches from potential partners nonetheless illustrate the renewed appetite among investors for exposure to high-grade, brownfields-adjacent gold discoveries in South Africa's historic goldfields, a trend also visible in West Wits Mining's Qala Shallows project and Theta Gold Mines' Pilgrim's Rest development elsewhere in the country.

The news emerged ahead of Pan African's FY2026 results, scheduled for release on 16 September 2026, and added a new, longer-dated growth option to a portfolio already expanding rapidly through the Mogale, Elikhulu and Soweto Cluster tailings projects.

Sources

• Discovery Alert: Pan African Poplar Gold Project: High-Grade Revival in South Africa, 22 Jun 2026