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Pan African expects up to 26% rise in 2013 headline earnings

20th August 2013

By: Creamer Media Reporter

  

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JOHANNESBURG (miningweekly.com) – Dual-listed Pan African Resources expects its headline earnings a share for the financial year ended June 30 to be between 16% and 26% higher than the 24.89c recorded in the 2012 financial year.

Earnings a share for the full year were expected to be between 34% and 44% higher than the 24.83c a share in the prior year.

Meanwhile, Pan African reported that its Barberton Gold Mines Operations (BGMO) had improved its production in the six months ended June, compared with the first six months of the financial year.

This brought total production for BGMO to 96 296 oz for the full year, compared with the 94 449 oz produced the year before.

The Evander gold mine, which was acquired by Pan African at the end of February, contributed 34 197 oz of gold to the group in the four months ended June 30, taking total group output for the year to 130 493 oz.

Pan African would release its results on September 17.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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