Gold miner Pan African Resources has advised shareholders that it expects its headline earnings per share (HEPS) and earnings per share (EPS) for the six months ended December 31 to be between 41% and 51% higher year-on-year.
The company’s HEPS and EPS will be between $0.0214 and $0.0023, compared with $0.0152 in the six months ended December 31, 2022.
The increase in earnings stems from an 8.9% increase in gold volumes sold at 98 458 oz, as well as a high average dollar gold price received of $1 961/oz, compared with an average gold price of $1 725/oz realised in the prior corresponding period.
The group will release its results on February 14.