Pan Global Resources Inc. (TSXV: PGZ | OTCQB: PGZFF) has reported its fourth quarter and audited annual financial results for the financial year ended 31 January 2023. The company reported a year-end cash balance of C$8.9M.
Pan Global completed more than 16,600m of drilling on 10 targets at its Escacena and Águilas projects. On 30 January 2023, the company announced a 20,000am multi-target drill programme for 2023.
Also, in July 2022, the company announced the appointments of Juan Garcia Valledor as general manager in Spain, and Mike Westcott as a special advisor to the board of directors. In August, the company announced the appointment of Andrew Marshall as chief financial officer and in November, announced the appointment of Jason Mercier as vice president investor relations and communications.
On 1 November 2022, the company announced admission to the UN Global Compact which supports a voluntary commitment to Ten Principles, and the broader Sustainable Development Goals (SDGs). In addition, the company commenced development of a sustainable mining management system in accordance with ISO standards, to support ESG related tracking and reporting.
An overview of milestones this year include In March 2023, Pan Global announced graduation to the OTCQB venture market in the US, raising the company’s profile in the world’s largest equity market.
In April 2023, the company announced positive preliminary metallurgical test results exceeding 86% copper recovery for the La Romana copper mineralization using conventional flotation. The results confirmed minimal deleterious elements and the potential for a coarse primary grind size to reduce energy requirements.
On 11 May 2023, Pan Global secured surface access to explore a 680ha area immediately to the west of the La Romana discovery at Escacena. Exploration at Romana West is underway, including ground geophysics and preparatory work for an initial 25-30 drill hole programme.
Also, Pan Global announced the appointment of Ms. Corinne Smit, CPA-CA, to the board of directors on 24 May 2023.
Tim Moody, Pan Global president and CEO said, “Last year was one of tremendous progress for Pan Global as we advanced our rich project portfolio. We drilled more than 16,600m and are executing on the plan for a 20,000m drill programme this year that includes multiple targets at the Escacena project in southern Spain.”
To find out more, please visit www.panglobalresources.com
