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Pan African Resources earnings to double

Snapshot

  • South African- based gold miner 
  • Operations at Barberton, Evander and Elikhulu
  • Production this year forecast to reach 185,000oz
Pan African Resources plc - Pan African Resources back on track as production climbs

Quick facts: Pan African Resources plc

Price: 9.6 GBX

AIM:PAF
Market: AIM
Market Cap: £185.12 m
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How it's doing

Earnings per share for the six months ended 31 December more than doubled to 1.14 US cents per share, the miner said in results released on 18 February. Total gold sold increased by nearly 14% to just over 90,600 ounces. 

A higher gold price has helped. 

Pan African had said earlier it expects to produce 185,000 ounces of the yellow metal for the full-year while the Evander 8 Shaft Pillar reaching commercial production would add “further high-margin” output in the second half.

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Inflexion points 

  • Production hits its target of 185,000oz this year
  • Gold price remains high
  • Dividend rises as debt is paid down

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Pan African Resources on track to achieve production guidance as projects...

Pan African Resources plc's (LON:PAF) Cobus Loots updates Proactive London's Andrew Scott on current operations and the outlook for 2020. He says the year's started well and are about half way to delivering on its full year production guidance of 185k ounces and its projects have been...

2 weeks, 4 days ago

2 min read