Pan African Resources (PAF)

Sector:

Mining

Index:

FTSE AIM 100

22.50p
   
  • Change Today:
      0.60p
  • 52 Week High: 22.60p
  • 52 Week Low: 12.02p
  • Currency: UK Pounds
  • Shares Issued: 2,222.86m
  • Volume: 4,140,484
  • Market Cap: £500.14m
  • RiskGrade: 255

Pan African achieves record first-half gold production

By Josh White

Date: Wednesday 16 Feb 2022

LONDON (ShareCast) - (Sharecast News) - Pan African Resources reported a 9.9% improvement in group gold production in its interim results on Wednesday, to a record half-year of 108,085 ounces.
The AIM-traded firm said its all-in sustaining costs for the six months ended 31 December came in at $1,173 per ounce, which was an improvement of 6.3% compared to the $1,252it recorded per ounce for the same period in 2020.

It increased its full-year production guidance to approximately 200,000 ounces as a result of the bumper first half.

On the financial front, Pan African said the net cash generated by its operating activities increased 54.4% to $43.4m, while its profit after tax and headline earnings rose to $46.1m from $40.8m.

Earnings per share and headline earnings per share were ahead 13.3% at 2.39 US cents, while the firm made a record net rand dividend payment in December, converted to presentation currency of $21.6m.

The company said its net debt narrowed by 56.7% by the end of the period.

Operationally, Pan African said the underground life-of-mine for Evander Mines was extended to 13 years, with increased expected gold production and development capital internally funded.

The evaluation of the Mintails tailings retreatment opportunity agreement was extended, while the firm's environmental, social and governance (ESG) initiatives, including renewable energy and large-scale agriculture projects, were said to be "on track".

"Pan African has again delivered an excellent operational performance, achieving record gold production in excess of 108,000 ounces for the current reporting period, and exceeding our previous guidance," said chief executive officer Cobus Loots.

"The group is on track to produce approximately 200,000 ounces of gold for the financial year ending 30 June, in line with our increased production guidance.

"We are committed to continuing to create value for our stakeholders by positioning Pan African as a sustainable, safe, high-margin and long-life gold producer with an attractive pipeline of growth projects."

At 1001 GMT, shares in Pan African Resources were up 3.88% at 20.01p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

PAF Market Data

Currency UK Pounds
Share Price 22.50p
Change Today 0.60p
% Change 2.74 %
52 Week High 22.60p
52 Week Low 12.02p
Volume 4,140,484
Shares Issued 2,222.86m
Market Cap £500.14m
RiskGrade 255

PAF Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
76.46% above the market average76.46% above the market average76.46% above the market average76.46% above the market average76.46% above the market average
38.93% above the sector average38.93% above the sector average38.93% above the sector average38.93% above the sector average38.93% above the sector average
Price Trend
88.80% above the market average88.80% above the market average88.80% above the market average88.80% above the market average88.80% above the market average
88.81% above the sector average88.81% above the sector average88.81% above the sector average88.81% above the sector average88.81% above the sector average
Income
61.92% above the market average61.92% above the market average61.92% above the market average61.92% above the market average61.92% above the market average
4.35% above the sector average4.35% above the sector average4.35% above the sector average4.35% above the sector average4.35% above the sector average
Growth
81.29% below the market average81.29% below the market average81.29% below the market average81.29% below the market average81.29% below the market average
56.25% below the sector average56.25% below the sector average56.25% below the sector average56.25% below the sector average56.25% below the sector average

What The Brokers Say

Strong Buy 2
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 3
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

PAF Dividends

  Latest Previous
  Final Final
Ex-Div 30-Nov-23 01-Dec-22
Paid 12-Dec-23 13-Dec-22
Amount 0.75p 0.91p

Trades for 28-Mar-2024

Time Volume / Share Price
16:35 655,022 @ 22.50p
16:35 2,296 @ 22.50p
16:35 6,422 @ 22.50p
16:35 3,640 @ 22.50p
16:35 20,447 @ 22.50p

PAF Key Personnel

CEO Cobus Loots
Finance Director Deon Louw

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