Which Pan African did you mean?

Mistaken identity was the culprit behind Pan African Minings (PAF-V) 8% drop on July 3, the company says.

On July 4 Pan African tried to set the market straight, affirming that it is indeed the Vancouver-based Pan African Mining and not the South African-based Pan African Mining.

News reports out of Zimbabwe on July 2 had the South African Pan African suffering a possible shut down at its Ayrshire gold mine in the much maligned country headed by Africas most notorious leader Robert Mugabe.

The Vancouver Pan African confirmed it not only has no interest in the Ayrshire mine, but also has no operations inside of Zimbabwe.

And it said the negative reports were solely responsible for its share price drop to $2.92 from $3.15 on a busy day of 104,000 shares traded. It had not seen that much trading action since June 11 the last time its shares traded over 100,000 shares.

Fortunately for the company on July 4 its shares had begun to win a recovery — regaining roughly 3% or 8 to $3.00 on 64,000 shares.

Pan African, the Canadian edition, is an exploration junior searching for uranium, precious metals, base metals and diamonds, in Madagascar, Mozambique and Botswana.

The company has roughly 25 million shares outstanding and has traded between a 52-week-high of $3.59 and a low of $1.85.