Pan Global Resources Inc. is a mineral resource exploration company incorporated in 2006 and headquartered in Vancouver (Canada), focused on exploring, discovering, defining and developing mineral deposits rich in copper, gold and other minerals in Spain (EU), where all of its operating teams and assets are located. The company holds an asset portfolio consisting of three projects at different stages of exploration, all of them 100% owned.
- The flagship project, Escacena, at the eastern end of the Iberian Pyrite Belt near Seville (southern Spain), covers 16,745 hectares and hosts the company’s first two Mineral Resource Estimates, La Romana (copper-tin-silver) and Cañada Honda (gold-copper-cobalt), with an effective date of December 31, 2025.
- The Cármenes Project, covering 5,653 hectares in the Río Narcea Gold Belt, about 55 km north of León (northwestern Spain), where the first 2025 drilling campaign at the Providencia target led to a new gold discovery. This acquisition further strengthens Pan Global’s strategic position in critical and precious metals exploration.
- And, a third asset, the Águilas Project, is near Córdoba (copper-lead-zinc-silver), covering 15,084 hectares.
Upon reaching its production target of up to 15,000 tonnes of copper equivalent per year, assuming a very conservative copper price of USD 5.00 per pound and an all-in sustaining cost (AISC) of USD 2.75 per pound, its main asset, Escacena, is projected to generate EBITDA of €62M. Even with a terminal value not exceeding 6x EBITDA, and after adjusting for the future capital expenditure required to reach that capacity and the current net cash position (€372M – €195M + €7M = €184M), the asset’s valuation would be more than 4x the company’s current market capitalisation (€39M).
