Pan African Resources (PAF)

Down
Share Price:
123.40p
Market Cap:
£2,879.75m
Change Today:
-2.80p
Sector:
Mining

Pan African to buy Australia's Emmerson Resources for £163m

By Frank Prenesti

Date: Monday 09 Mar 2026

LONDON (ShareCast) - (Sharecast News) - Pan African Resources on Monday said it was buying Australia's Emmerson Resources in a deal worth AUD $311m (£163m).

Emmerson shareholders will receive 0.1493 Pan African Resources shares in the form of Australian-listed CHESS Depositary Interests for each Emmerson share. The deal is being struck at a 36.4% premium to Emmerson's last closing price of AUD $0.330.

The Emmerson board has recommended shareholders vote in favour of the scheme, in the absence of a superior proposal. Two major shareholders with a combined stake of around 26% of the Australian miner - Noontide Investments and TA Private Capital - have provided intention statements to vote in favour.

Pan African currently holds 75% of a gold and copper joint venture with Emmerson at Tennant Creek in Australia's Northern Territory.

Reporting by Frank Prenesti for Sharecast.com

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

PAF Market Data

Currency UK Pounds
Price 123.40p
Change Today -2.80p
52 Week High 182.60p
52 Week Low 77.00p
Volume 4,742,407
Shares Issued 2,333.67m
Market Cap £2,879.75m

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What The Brokers Say

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Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 4
strong_buy
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