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viewPan African Resources PLC
(
AIM:PAFOTCQX:PAFRYJSE:PANFRA:RTZOTCQX:PAFRF
)

Pan African Resources sees strong cashflows as gold price surges

Snapshot

  • Pan African Resources raises dividend after posting record profits
  • Pan African Resources doubles production, reporting record profit with a proposal to raise dividend
Pan African Resources plc - Pan African Resources back on track as production climbs

Quick facts: Pan African Resources PLC

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AIM:PAF

Price: 15.76 GBX

Market Cap: £303.9 m

About the company

Pan African Resources is a mid-tier African-focused gold producer.

It is dual-listed on the London AIM market and the Johannesburg Stock Exchange, and it has a Level 1 ADR programme sponsored by the Bank of New York Mellon.

The company owns and operate a portfolio of high-quality, high-margin South African operations with a production capacity of approximately 200,000oz of gold per annum, and an unrelenting commitment to zero harm.

How it is doing

15 Sep 2021

Pan African Resources PLC (AIM:PAF, OTCQX:PAFRY, JSE:PAN, FRA:RTZ, OTCQX:PAFRF) posted a record profit due to higher gold production as it proposed its highest ever dividend.

The miner produced a total of 201,777 ounces of gold in the twelve months ended June 30, up 12.4% and posted a net profit after tax of US$74.7mln, a company record. Earnings per share grew 68.3% to 3.87 American cents and operating profit was up 36% to US$128mln. The company lifted its final dividend 28.5%, to a total pay-out of US$28.3mln.

“We are, once again, pleased to report major positive strides in Pan African’s operational and financial performance, despite the challenges of the ongoing COVID-19 pandemic,” said chief executive Cobus Loots.

“The operational flexibility afforded by our multiple producing assets has enabled the group to improve margins, achieve record profits and realise our second-highest annual gold production.

08 Sep 2021

Pan African Resources PLC (AIM:PAF, OTCQX:PAFRY, JSE:PAN, FRA:RTZ, OTCQX:PAFRF) expects earnings per share to jump at least 63% for the year to end June 2021, helped by higher gold prices and sales.

EPS will be between 3.76 and 4.10 US cents, compared with 2.30 US cents for the year-earlier period, representing an increase of between 63% and 78% respectively, it said in a trading statement.

12 Aug 2021

Pan African Resources PLC (AIM:PAF, OTCQX:PAFRY, JSE:PAN, FRA:RTZ, OTCQX:PAFRF) (AIM:PAF) said it agreed a multi-year wage deal with two unions at its Barberton gold mines in South Africa.

The AIM-listed miner reached a three-year wage agreement with the National Union of Mineworkers and a five-year wage agreement with the United Association of South Africa. The two unions represent the majority of employees at the Barberton mines.

What management says

15 Sep 2021

Pan African Resources PLC (AIM:PAF, OTCQX:PAFRY, JSE:PAN, FRA:RTZ, OTCQX:PAFRF) (AIM:PAF, OTCQX:PAFRY, JSE:PAN, FRA:RTZ, OTCQX:PAFRF) chief executive Cobus Loots joins Proactive London after reporting record profit due to higher gold production. 

The miner produced a total of 201,777 ounces of gold in the twelve months ended June 30, up 12.4% and posted a net profit after tax of US$74.7mln, a company record. 

Earnings per share grew 68.3% to 3.87 American cents and operating profit was up 36% to US$128mln. 

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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