Pan African increases gold revenue to US$183.8 million
Pan African in its trading statement for the six months ended 31 December 2020 says its headline earnings per share (HEPS) and earnings per share (EPS) for the Current Reporting Period are expected to be as follows:
HEPS of between US 2.05 cents per share and US 2.17 cents per share compared to US 1.13 cents per share for the Corresponding Reporting Period, being an increase of between 81% and 92%, respectively.
EPS of between US 2.05 cents per share and US 2.17 cents per share compared to US 1.14 cents per share for the Corresponding Reporting Period, being an increase of between 80% and 90%, respectively.
The increases in EPS and HEPS for the Current Reporting Period, relative to the Corresponding Reporting Period, are largely as a result of a 38.4% increase in gold revenue to US$183.8 million (2019: US$132.8 million), attributable to the following:
- the average US$ gold price received increased by 27.4% to US$1,865/oz (2019: US$1,464/oz); and
- gold sold increased by 8.6% to 98,386oz (2019: 90,602oz).
Pan African says the financial information contained in this article has neither been reviewed nor audited by the Company’s auditors. The Group’s interim results for the six months ended 31 December 2020 will be released on 16 February 2021.
