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Pan African Resources sees sales and earnings soar with the gold price

Headline earnings for the year to end-June, 2020, will be between 2.23 US cents and 2.35 US cents against 1.19 US cents in 2019

Pan African Resources plc -

Pan African Resources plc (LON:PAF), the South Africa-based gold miner, said its underlying earnings per share for the year to end-June, 2020, will be at least 87% higher than a year ago.

Headline earnings for the year will be between 2.23 US cents and 2.35 US cents, against 1.19 US cents in 2019. Reported earnings will rise to between 2.20 US cents and 2.40 US cents compared to 1.97 US cents per share for the previous year.

Revenues over the year rose by 26% to US$274mln due,  the miner said, due to an increase in gold sold of 1.3% to 173,864 ounces (oz) and the average US$ gold price received increasing by 24.3% to US$1,574 per oz (2019: US$1,266 per oz)

Pan African said its audited results for the year ended June 30, 2020, will be released on September 16.

Quick facts: Pan African Resources plc

Price: 20.1 GBX

AIM:PAF
Market: AIM
Market Cap: £387.59 m
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on 17/7/20

2 min read