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| April 14, 2008 |
"Our children our dying. We are all dying." a woman told me.
Jan Nelson, CEO of Pan African Resources, has not mentioned a word about the people of CAR. I believe they are the most abandoned people on earth.
Another example, CAR's neighbor, Chad is rich in oil. There is an extremely wealthy society living in N'Djamena. Behind walls are heavily guarded palacial homes. But the wealthy Chadians do nothing to assist the desperately poor in the rest of Chad. 20 percent of the children of Eastern Chad are suffering from acute malnutrition.
CAR gold discovered
Mon, 14 Apr 2008
Pan African Resources said on Monday that eight major gold-in-soil anomalies have been delineated following a stream sediment and infill soil sampling programme on the Dekoa licence area in the Central African Republic.
The combined strike length of these anomalies is in excess of 25km, double the size of the anomaly identified at the Bogoin project 150km to the South-West of the Dekoa gold project, where a mining convention was signed earlier this year.
As a result of these encouraging results Pan African has together with CARGold, its joint venture partner in the CAR, concluded a 25-year mining convention with the Ministry of Mines, Energy and Water Affairs in the CAR.
The State has agreed to facilitate the exploration and development by the JV of the Dekoa gold project in the CAR. The JV will pay the State $700 000 in respect of the rights it has acquired.
The first instalment of $200 000 was payable on signature and the balance due in instalments at various stages of the development of the Dekoa gold project.
The convention came into effect on 9 April and is extendible by agreement between the JV and the State. Once the mining phase is reached the State will hold a 10 percent free carry in the Dekoa gold project.
The State has provided a number of concessions and exemptions in respect of taxes, duties and administrative provisions to the benefit of the company housing the Dekoa gold project.
Nelson, CEO of Pan African, commented: "The signing of a mining convention removes uncertainty regarding the funding required should the Dekoa gold project advance to the mining phase. Our combined gold projects in the CAR represent close to 37km of potentially mineralised strike length and are we comfortable with the pace at which these projects are progressing."