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Pan Global Resources is considering an optionality study for its La Romana deposit in southern Spain, including whether ore sorting and nearby operations could reduce the need for a standalone processing plant. The company is still working to expand its resource base, and permits for drilling on newly awarded ground remained pending in October.
Pan Global Resources is studying whether ore sorting and access to nearby mining infrastructure could provide a route to develop its La Romana copper deposit in Andalusia, rather than building a standalone processing plant. The Vancouver-based explorer says it is considering an optionality study before selecting its next technical study, but has not demonstrated the project’s economic viability.
La Romana is part of the Escacena project, about 35 km northwest of Seville and next to Grupo México’s Los Frailes development. Atalaya Mining’s Riotinto operation is also nearby. Pan Global President and CEO Tim Moody told The Northern Miner that transporting material to another operator could make more sense than constructing a plant for La Romana at its current scale. No agreement to process or transport ore with either neighbour was reported.
The La Romana estimate, effective last December, includes 32.4 million tonnes of measured and indicated resources, grading 0.37% copper, 0.027% tin and 1.7 grams of silver per tonne. It contains an estimated 119,500 tonnes of copper, 8,800 tonnes of tin and 1.7 million ounces of silver. A further 4 million tonnes are classified as inferred resources. These are resource estimates, not a statement that the material can be mined profitably.
Moody said the company wants to test whether ore sorting can separate mineralized material from waste before processing, potentially lowering the amount that must be moved. Pan Global has reported copper test results of 88% recovery and concentrate grades reaching 32.5%; Moody said average grades were closer to 29%. The company has not released an economic assessment establishing the costs or commercial value of the proposed approach.
A Route Beyond a Standalone Plant
Using nearby infrastructure could affect the scale of investment needed to advance La Romana. If ore sorting proves effective and a neighbouring operator is willing and able to handle the material, Pan Global might be able to avoid building all processing infrastructure itself. Those are possibilities under evaluation, not arrangements already secured.
The proposal also reflects the project’s location in the Iberian Pyrite Belt, a mining region with established operations and transport links. Moody pointed to the geological setting and nearby mines as potential advantages. For readers tracking the project, the central issue is whether technical testing, access to infrastructure and further exploration can support an economically viable development plan. The company has yet to establish that outcome.
The stakes extend beyond La Romana because Pan Global is seeking to grow Escacena’s resource base to more than 100 million tonnes. Achieving that scale depends on exploration results, including work on newly awarded ground, as well as permits and funding. The target is a company objective, not a confirmed resource total.
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Escacena’s Deposits and Exploration
La Romana was discovered beneath younger rocks in a belt that has been mined for thousands of years. Moody cited established volcanogenic massive sulphide deposits such as Riotinto in Spain and Neves-Corvo in Portugal as evidence of the region’s geological potential. Pan Global estimates tin represents 15% to 20% of La Romana’s metal value, though the company’s estimate does not by itself establish how much value could be recovered commercially.
Elsewhere at Escacena, Pan Global is drilling Cañada Honda, which has an inferred resource of 5 million tonnes grading 0.65 gram of gold and 0.14% copper. The estimate contains 104,000 ounces of gold and 6,800 tonnes of copper. Moody said much of the broader exploration target remains untested. In the project’s southern area, Escacena South, the company has identified targets on ground awarded through a public tender last year; their potential remains unproven.
Pan Global also has the Cármenes project in northern Spain, but the company’s stated focus remains Escacena. Results released Oct. 14 included 9 metres grading 7.29 grams of gold per tonne in hole PVD18 and 38 metres grading 1.53 grams per tonne in PVD17. The company said true thicknesses had not been determined, and the reported results covered only 19 holes.
“We actually think there is more value in doing what we’re calling an optionality study,” rather than a preliminary economic assessment.”
— Tim Moody, Pan Global Resources president and CEO, speaking to The Northern Miner
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Economics and Permits Still Pending
Pan Global has not published a preliminary economic assessment or demonstrated that La Romana can be developed profitably. The extent to which ore sorting could improve project economics, the cost of moving ore and the terms for using nearby facilities are not established in the report. Moody said the resource confidence could support moving to a prefeasibility study, but he did not give a timeline.
Permits for drilling at Escacena South were still pending in October, despite Pan Global having budgeted for work there that year. Moody hoped crews could arrive before year-end, with drilling possible within a couple of months after permits were granted. The source material does not confirm whether approval was later issued or whether drilling began. Exploration targets and proposed future resources also remain uncertain until tested and assessed.
The company said it had more than C$10 million in cash, and reported that Alpayana invested C$7.2 million in June, raising its stake to 19.6% upon closing. Moody characterized that holding as an investment without a board seat or anti-dilution rights. The report also described discussions with European resource funds, but did not identify a completed investment from those discussions.
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Drilling Depends on Permit Approval
The next practical milestone for Escacena South is confirmation of exploration permits and any resulting drilling schedule. Moody said work could start within a couple of months of approval, but the company had not confirmed a permit date. Pan Global also needs to report results from its ongoing Cañada Honda drilling and any further work used to test targets across Escacena.
For La Romana, investors and local stakeholders will be watching for results from the proposed optionality work, including whether ore sorting can be applied to the deposit and whether nearby operators could provide a viable processing route. The company has not announced a completed study, a processing agreement or a timetable for a prefeasibility study. These developments would help clarify whether the concept can progress beyond exploration and technical testing.
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Key Questions
What is Pan Global considering for La Romana?
The company is considering an optionality study that could examine ore sorting and other development choices, including transporting ore to a nearby operator rather than building a standalone plant. No processing agreement has been reported.
How large is La Romana’s current resource?
The estimate effective last December lists 32.4 million tonnes of measured and indicated resources, plus 4 million tonnes of inferred resources. Resource estimates do not establish that a deposit can be mined profitably.
Has Pan Global shown that the project is economically viable?
No economic viability has been demonstrated in the reported material. The company is weighing technical options, and it has not published a preliminary economic assessment for La Romana.
Why is drilling at Escacena South not confirmed?
Exploration permits were still pending in October. Moody said drilling could begin within a couple of months after permits were granted, but the source does not confirm whether they were later approved.
What other exploration is Pan Global pursuing?
Pan Global is drilling at Cañada Honda, an area with an inferred gold-copper resource, and has reported gold results from its Cármenes project in northern Spain. Escacena remains the company’s main focus, according to the report.
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