Pan African Resources PLC (AIM:PAF, OTCQX:PAFRY, JSE:PAN) has announced plans to transfer its listing from AIM to the Main Market of the London Stock Exchange.
The move represents a natural continuation of Pan African’s growth, chief executive Cobus Loots highlighted.
"Over the last decade, we have consistently grown both organically and through acquisitions whilst returning capital to our loyal shareholders," Loots said.
"We are currently benefitting from the strong gold price environment, which we expect will enable us to be fully de-geared (from a net debt perspective) during the course of financial year 2026.
Loots added: "We believe the proposed move from AIM to the Main Market will enable us to access a deeper pool of capital and enhance liquidity for the group as we continue our ambitious growth strategy.”
London-based stockbroker Peel Hunt, in a note, said: "We view this as positive. The delivery of the MTR project, plus the acquisition and ramp up of the Tennant Creek operations provide an enlarged production base for the group, something that we expect would appeal to a wider group of investors, which trading on the main board of the LSE is likely to bring."