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Pan African Resources ( (GB:PAF) ) has provided an update.
Pan African Resources reported a slight 3.3% decrease in gold production for the six months ending 31 December 2024, primarily due to operational challenges at Evander Mines. However, the company anticipates significant production improvements in H2FY2025 and FY2026, backed by the full commissioning of the Evander Mines subvertical shaft and the accelerated Mogale Tailings Retreatment operation. Financially, the company’s revenue remained robust despite a decrease in production, with a 10% increase in profit attributed to a gain on acquisition from the TCMG transaction. The company faces increased costs due to operational disruptions and exchange rate effects but expects cost reductions in H2FY2025. Looking ahead, strategic growth projects such as the expansion of the Mogale Tailings Retreatment and the Barberton Tailings Retreatment Plant are underway, alongside the accelerated construction of the Nobles Gold processing plant in Australia, aiming to significantly boost future production capacity.
More about Pan African Resources
Pan African Resources PLC operates in the mining industry, primarily focusing on gold production. The company is engaged in operations across South Africa and Australia, with key assets including Evander Mines and Barberton Mines in South Africa, and the Tennant Consolidated Mining Group in Australia.
YTD Price Performance: 9.46%
Average Trading Volume: 3,515,040
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £659.9M
For an in-depth examination of PAF stock, go to TipRanks’ Stock Analysis page.
