Pan African Heaps Up On Higher Gold Prices

Pan African Resources is expecting its full-year headline earnings per share (HEPS) to nearly triple, driven by higher gold prices and an increase in metal sold. According to a trading statement, the company's HEPS is expected to be between 17.35 US cents and 17.94c, compared to 5.89c in the previous financial year.

This represents an increase of between 195% and 205%, with gold production increasing by 38.3% to 272,373 ounces during the year. The company received $4,235 per ounce for its gold on average, a 54.8% increase from the previous year.

The cost of producing an ounce of gold is expected to be around $1,870 for the year, in line with previous guidance. Additionally, Pan African expects production to increase to between 280,000 and 302,000 ounces in the year to June 2027, primarily due to higher production from Tennant Mines in Australia.