Pan African Resources PLC (AIM:PAF, OTCQX:PAFRY, JSE:PAN, OTCQX:PAFRF) said earnings have rebounded due to higher gold production, a rise in the gold price and a weak South African rand.
Earnings per share for the six months to end-December 2023 will be between US$2.14 and US$2.30, the gold miner said, an increase of between 41% and 51% over the comparable period in 2022.
Interim revenues rose by 23.9% to US$193.9 million (2022: US$156 million) as sales and prices received improved.
Volumes of gold sold rose 8.9% to 98,458oz (2022: 90,439oz) while the average gold price received increased by 13.7% to US$1,961/oz (2022: US$1,725/oz).