Pan African Resources reveals considerable improvement in earnings
Higher output and better prices boosted earnings for the fourth quarter
Company
Pan African Resources PLC
LON:PAF
Pan African Resources PLC is a mid-tier African-focused gold producer with a production capacity in excess of 200,000oz of gold per annum. The company owns and operate a portfolio of high-quality, low-cost operations and projects, which are located in South Africa.
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Pan African Resources on target for annual output of 185,000 ounces of gold
The South African miner updated on a busy first half
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Pan African Resources resumes dividends as profits bounce back
Numbers were helped by a surge in the price of gold and a 27% reduction in the all-in sustaining cost
Pan African Resources guides to improved full year earnings
Headline earnings per share was guided to rise 15%-25% to between 1.14 cents and 1.24 cents
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Pan African Resources looks to build on strong momentum and production growth
“We continue to assess the optionality of our portfolio and are looking to build upon this year’s momentum to drive further growth," said CEO Cobus Loots
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FTSE 100 closes lower Friday after lacklustre week
The FTSE 250 went the other way and gained over 87 points on Friday
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Pan African Resources on track to hit production target
Pan African has also decided against re-opening the Royal Sheba mine as a stand-alone project.
Pan African Resources has recovered its poise, and is now driving towards an annual production target of 170,000 ounces
Recent production numbers from Pan African's operations give plenty of grounds for encouragement
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Pan African Resources reports “robust” first half as profits more than double
The gold miner reported that after-tax profit for the six months ended 31 December 2018 had risen 127% to £7.5mln
FTSE 100 closes higher as markets more optimistic on US, China trade
BIg banking group Lloyds was among the top gainers on Footsie
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Lloyds to report 2018 numbers on Wednesday as bank results cycle grinds on
The black horse will be tasking the middle spot between HSBC and Barclays, with investors on the lookout for any news on cost-cutting and dividends
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Malvern International jumps as it forecasts 100% revenue increase for 2018
In a trading update, the education firm said revenues from continuing operations would be over £8mln, while profits were expected to be in line with expectations
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Pan African Resources expects uplift to EPS for second half of 2018
In an update for the six months ended 31 December, the firm said its EPS and headline EPS from continuing operations were expected to range between 3% to 13% higher than a year ago
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FTSE 100 closes up as markets buoyed by US/China trade talks
The more UK-company focused FTSE 250 gained over 147 points to close at 18,972
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Pan African surges after half-year production update
"We have a demonstrable record of replenishing our mineral resources through effective exploration and look to organic growth projects, such as Royal Sheba, to further enhance the sustainability of the group’s operations and to continue to
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FTSE 100 closes lower on day and week as global growth worries knock sentiment
The UK's premier share index finished almost ten points down. It was also lower on the week as a whole
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Boku Inc sinks as it buys loss-making company
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FTSE 100 has worst day in over two years as Huawei CFO arrest sends shockwaves through markets
Footsie closed down 217 points today to 6,704, with 7,000 now seemingly a distant memory. .
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Webis weak on limited California license renewal; Kier Group drops on cash call
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Pan African Resources set to complete DFS at Royal Sheba after successful drilling programme
Chief executive Cobus Loots said Pan African Resources is “very pleased” with the outcome of the in-fill drilling programme and the updated mineral resource estimate for the Royal Sheba project.
FTSE 100 closes lower as G20 summit begins and trade worries continue; housebuilders fall
The premier index of UK shares finished down nearly 59 points at 6,980. Mid-cap cousin FTSE 250 shed over 128 points at 18,480.
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Pan African’s Cobus Loots confident of achieving full year production guidance of 170,000 ounces of gold
The new operations at Elkhulu are performing well, and will receive a boost from tailings from Evander
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FTSE 100 closes firmly lower as traders await US midterm election results
The UK blue-chip index lost over 63 points at 7,040, while FTSE 250 also fell, dropping around 20 points at 19,043.
Pan African Resources looks all set to return to profitability in 2019
Pan African has now ceased operations at a troubled asset and is once more looking forward to growth
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Mission Marketing Group shares step up, United Carpets declines
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Pan African Resources reports financial results after decisive action to maintain profitability
“Our cost base is now significantly lower, and efficiencies and stability improved due to the restructuring we effected during the year.”
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FTSE 100 closes higher as trade fears ebb; Kingfisher leads the laggards
The FTSE 100 closed nearly 31 points higher at 7,331, while FTSE 250 added over 42 at 20,500
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Pan African Resources looks forward to year ahead after challenging period
The gold mining group is due to release its financial results next week, but, today's update emphasised a more positive trading in the current period.
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Pan African Resources says three-year wage agreement successfully concluded with unions by Barberton Mines
The AIM-listed firm said the agreement provides for an average annual wage increase of approximately 6.5% and 5.5% for NUM and UASA members, respectively, over the three years
FTSE 100 takes a dive again; miners bear brunt
FTSE 100 finished down around 41 points or 0.56%, at 7,277 as its poor run continues
Pan African Resources flagship asset is 'gift that keeps on giving', says CEO
Pan African Resources has more than doubled its mineral resource estimate at the Royal Sheba project after results from the latest round of drilling beat expectations.
Aquis Exchange unit inks three-year trading technology supply deal with crypto and security token exchange Archax
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Pan African Resources more than doubles mineral resource estimate at Sheba after latest round of drilling
The AIM-listed miner now believes there could be 0.9mln ounces underfoot at Sheba although that figure could rise once again in November once all the drilling results are back
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FTSE 100 closes lower again as traders flee from risk
The UK blue chip index was about 10 points lower at 7,373, above the session low of 7,357.09 but below the morning peak of 7,397.74
Numis Securities repeats ‘buy’ on Pan African Resources after Elikhulu tailings plant news
Numis analysts said: “This is a good result for PAF, which should also benefit from the recent weakening of the ZAR vs the USD that should offset some of the impact of the weaker gold price”
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Moneysupermarket, RHI Magnesita and Rank slow FTSE 250's advance
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Pan African Resources announces first gold pour at Elikhulu
Elikhulu is expected to become Pan African’s flagship operation, producing 70,000 ounces of gold every year when it reaches full production
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FTSE 100 closes firmly higher as investors fret less on China/US relations
The UK blue-chip benchmark closed up over 58 points at 7,556, while its mid-cap cousin FTSE 250 added almost 142 points
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Pan African headed in right direction after challenging year
In terms of safety performances, significant progress was made over the past year with on-mine safety improvement
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Pan African Resources slips as PAR Gold sells 130mln shares, representing a 5.8% stake
Following the disposal, PAR Gold continues to hold 306.36mln Pan African shares, representing 13.7% of the issued share capital of the company
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Pan African Resources completes Barberton plant as Elikhulu construction continues
In an operations update, the AIM-listed precious metals miner said the construction of the regrind mill at the BTRP was complete and the commissioning process had commenced
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Pan African Resources to cease underground operations at the Evander gold mine in South Africa
The miner said the move will result in approximately 1,700 employees being retrenched by the end of May 2018, at a cost of approximately R160mln (around £9.26mln)
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Pan African on track to produce between 177,000 and 181,000 ounces of gold this year
Pan African now is moving on from operational issues, with production at Barberton set to rise significantly this year
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G4S higher as HSBC ups to ‘hold’ from ‘reduce’, with increased target price, citing valuation grounds
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Pan African Resources to assess potential for Royal Sheba re-opening
The mine was shut in 1996 after small-scale mining had gone down to a depth of 340m
FTSE 100 consolidates gains to close higher but miners weigh
The UK blue-chip index finished over 44 points higher at 7,044, but big miners tempered gains
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Pan African Resources into high grades again at Barberton
Head grades rose to 11.5g/t in February from 8.7g/t between July and December
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FTSE 100 suffers triple-digit fall as investors fret over a trade war coinciding with Brexit
Fears of a trade war have rattled investors, with minerals companies particularly hard hit
Pan African Resources confirms considering cutting jobs at Evander Gold Mine in South Africa
In a brief statement, Pan African Resources said: “Further to the recent NUM press release and media speculation, the Company confirms that it has commenced a consultation process in terms of section 189 of the South African Labour Relation
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Botswana Diamonds shares sparkle as it begins exploration programme with Alrosa
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Pan African Resources still in profit and paying dividend, despite tough few months
Revenue dipped, but Pan African's Barberton and Evander mines proved robust enough to weather a difficult few months and still turn a profit
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FTSE 100 closes slightly lower as the pound firms after stronger-than-expected inflation data
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Update from holidays firm TUI unlikely to overshadow the latest UK inflation numbers
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Inflation numbers from UK and US to be eyed closely in coming week amid rate hike fears
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Pan African no longer picking over the bones of ASA Resource Group
“Shareholders are no longer required to exercise caution when dealing in Pan African shares,” Wednesday’s statement said
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