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viewPan African Resources plc

Pan African Resources earnings to double

Snapshot

  • South African- based gold miner 
  • Operations at Barberton, Evander and Elikhulu
  • Production this year forecast to reach 185,000oz
Pan African Resources plc - Pan African Resources back on track as production climbs

Quick facts: Pan African Resources plc

Price: 12.4976 GBX

AIM:PAF
Market: AIM
Market Cap: £240.99 m
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How it's doing

Earnings per share for the six months ended 31 December more than doubled to 1.14 US cents per share, the miner said in results released on 18 February. Total gold sold increased by nearly 14% to just over 90,600 ounces. 

A higher gold price has helped. 

Pan African had said earlier it expects to produce 185,000 ounces of the yellow metal for the full-year while the Evander 8 Shaft Pillar reaching commercial production would add “further high-margin” output in the second half.

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Inflexion points 

  • Production hits its target of 185,000oz this year
  • Gold price remains high
  • Dividend rises as debt is paid down

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Watch

Pan African increasing production after reaching new high-grade gold zone

Cobus Loots, chief executive of Pan African Resources plc (LON:PAF), tells Proactive they've begun to increase production again at the Barberton mine complex in South Africa after reaching a new high-grade gold zone. Barberton, which comprises the Fairview, Sheba and Consort mines, has...

on 3/3/18

2 min read