Sparks - Pan African Resources

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Pan African Resources (LSE: PAF) reports strong FY24 results

Pan African Resources has reported FY24 results, with highlights including a 6.2% rise in group gold production to 186kOz (in line with guidance) and an AISC of US$1,354/Oz (FY23: US$1,309/Oz), marginally above guidance of US$1,325–1,350/Oz. FY25 guidance was given at AISC of US$1,350–US$1,400/Oz, with the low-cost Mogale Tailings Retreatment (MTR) project (which is expected to be in production in December 2024, under budget and ahead of schedule) offsetting inflationary pressures. Revenue of US$373m was up 16.8% year on year, with profit up 30.2% to US$78.8m. EPS was up 32.1% to US4.14c/share. Looking ahead, the group gave 2025 production guidance of 215–225koz, with the increase attributed to the MTR project.

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Industrials | Comment

18.10.24

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