Pan African Resources gold sales decreased by 15.6% to 90,439oz
Rosebank – Pan African has advised shareholders that its headline earnings and earnings per share (EPS) for the Current Reporting Period (the six months ended 31 december 2022) are expected to be between US 1.40 cents per share and US 1.64 cents per share, compared to US 2.39 cents per share for the Corresponding Reporting Period, a decrease of between 31% and 41%.
The decreases in EPS and HEPS for the Current Reporting Period, relative to the Corresponding Reporting Period, are largely as a result of an 19.2% decrease in gold revenue to US$156.5 million (2021: US$193.6 million), attributable to the following:
• gold sold decreased by 15.6% to 90,439oz (2021: 107,142oz), following record production achieved in the comparative period, and
• the average US$ gold price received decreased by 4.4% to US$1,725/oz (2021: US$1,804/oz).
The financial information contained in this announcement has neither been reviewed nor audited by the Company’s auditors. The Group’s interim results for the six months ended 31 December 2022 will be released on 15 February 2023. The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service, this inside information is now considered to be in the public domain.
