Focus on Pan African Resources
In the early 2010s, Pan African was a single-asset company, holding only the Barberton Mines underground operations. Over the past 10 years, the Group has successfully diversified into a long-life, high-margin operator, with multiple assets, improved flexibility and reduced volatility.
Pan African has also increased profitable production and investor returns. Shareholders have received returns through both compound capital growth of more than 10% per year over the past few years and an increasing annual dividend.
Pan African has regularly featured in the Top 10 of the JSE’s Top 100 performing companies over the past few years. More recently in 2024, it has been the best-performing gold stock on the JSE year to date, with the share price increasing by over 80% since the beginning of the calendar year and 100% year-on-year. The AIM recorded a similar performance, where the share is also trading at all-time high levels.
Value-adding projects completed by the Group’s incumbent management team and board during the last ten years include:
Securing, funding, construction and operation of transformative surfaces assets
- BTRP
- Evander Tailings Retreatment Plant
- Elikhulu
- The MTR project
Evander Mines’ underground restructuring
- 8 Shaft pillar mining
- Level 24 to 26 development
Group renewable energy initiatives
- Evander Mines’ solar plant
- Barberton Mines’ solar plant
While South African gold mining is often seen as a sunset industry, Pan African believes that the country still presents attractive opportunities. In 2022, it acquired Mineral Resources from Mogale Gold Proprietary Limited and Mintails SA Soweto Cluster Proprietary Limited (MSC) for US$1.12/oz, and then applied its extensive surface tailings expertise to bring this project to account.
Pan African has also accumulated considerable underground mining expertise, which it is applying to exploit at Barberton Mines’ and Evander Mines’ underground assets.
The gold price is at an all-time high, and this trend is expected to continue in the foreseeable future. Pan African has over 30Moz of SAMREC-compliant gold resources within its mining rights, secured in Barberton and Evander to 2051 and 2038, respectively.
The Group’s unique value proposition of surface and underground mining, high-margin long-life production, blend of financial strength, growth potential, gold resource base, dividend track record and unwavering dedication to ESG principles, makes it a compelling choice for investors seeking to achieve sustainable returns while making a meaningful positive impact on all stakeholders.
