Pan African’s full-year profits rise on higher production, sales and prices

JSE- and Aim-listed Pan African Resources has proposed a dividend of R22 a share for approval at the company’s upcoming AGM for the financial year ended June 30, as operational enhancements and optimisation initiatives resulted in a 6.2% year-on-year increase in group gold production to 186 039 oz, in line with guidance. Enhancements and optimisations contributed to significant improvements at Barberton Mines’ underground operations, resulting in a 13.5% year-on-year increase in production from the Fairview and Sheba mines to 65 580 oz, as well as an 8.4% increase in production from the Elikhulu Tailings Retreatment Plant to 54 812 oz.