Pan-Af interim results December 2018

Revenue from continuing operations for the interim period grew to GBP75.3 million (2017: GBP51.3 million) and mining profit increased to GBP15.2 million (2017: GBP9 million) and profit attributable to owners of the parent rose to GBP7.5 million (2017: GBP3.3 million). Furthermore, headline earnings per share from continuing operations were recorded at GBP0.39 pence per share (2017: GBP0.36 pence per share).

Company outlook
Key focus areas for the 2019 financial year include:
-continuing to improve our safety performance, and environmental, social and governance compliance across all operations;
-delivering on our gold production guidance of approximately 170 000oz;
-ensuring Elikhulu delivers to expectations and fully incorporating ETRP's throughput into Elikhulu's processing capacity;
-strengthening of the group's financial position by reducing debt to allow for improved funding flexibility and increased capacity; and
-focussing on advancing value accretive growth opportunities such as:
*Royal Sheba project;
*Evander Mines' 8 Shaft pillar project;
*Evander Mines' Egoli project; and
*Barberton Mines' sub-vertical shaft.

The group continues to evaluate acquisition opportunities, particularly in other African jurisdictions, in accordance with its rigorous capital allocation criteria.

2019-02-20 09:59:15