Pan African reports record gold production, matches last year’s dividend
JOHANNESBURG (miningweekly.com) – Gold mining company Pan African Resources, which reported record gold production in the 12 months to June 30, describes itself as being positioned for further growth as it moves closer to commissioning organic projects and concludes the Mintails surface gold transaction.
The London- and Johannesburg-listed company has proposed a final dividend of just over R400-million for the financial year 2022 (FY22) equal to 18c a share, the same as that paid in FY21.
Gold production increased by 1.9% to 205 688 oz at 1.8%-higher all-in sustaining costs of $1 284/oz.
Net cash from operating activities rose 45.1% to $110-million, after-tax profit was $75-million, and net debt fell 66.7% to $13-million.
Evander Mines’ underground life-of-mine has been extended to 14 years, with increased expected gold production and development capital internally funded.
The transaction to acquire the Mintails tailings retreatment assets is expected to be concluded by September 30.
The 9.9 MW solar photovoltaic renewable energy plant at Evander is fully commissioned and the first commercial harvest at Barberton’s Blueberry project is in progress, a stock exchange news service announcement accessed by Mining Weekly states.
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