Pan African Resources PLC (AIM:PAF, OTCQX:PAFRY, JSE:PAN, OTCQX:PAFRF) has said its interim earnings will come in well below last year after previously flagged production issues at its Barberton complex.
The South African gold miner said it now expects earnings of between 1.40 US cents and US 1.64 US cents per share for the six months to end December 2022, compared to 2.39 US cents for the corresponding reporting period, a decrease of between 31% and 41%.
Jay Cheatham, chief executive of Pantheon Resources PLC (AIM:PANR, OTC:PTHRF), is confident that the company’s Alkaid #2 well on Alaska’s North Slope will prove a commercial success, despite several ‘niggles’ faced during the well cleanout process.
Pantheon, the AIM-quoted oil and gas company, announced on Friday that the Nordic Calista #2 rig, contracted for the Alkaid #2 clean-out operation, has successfully pulled the tubing and packer and has now moved off the wellhead.
Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL) said its diesel usage has been slashed following the start-up of a solar power generator at the Blanket mine in Zimbabwe.
The 12MWac solar plant, which was connected to the Blanket mine electrical grid in November 2022, is operating better than expected and generating more power than anticipated, Caledonia added.