Pan African Resources (PAF)

Up
Share Price:
136.00p
Market Cap:
£3,173.79m
Change Today:
7.10p
Sector:
Mining

Pan African commissions Mogale Tailings Retreatment operation

By Josh White

Date: Thursday 31 Oct 2024

LONDON (ShareCast) - (Sharecast News) - Pan African announced the successful commissioning of its Mogale Tailings Retreatment (MTR) operation on Thursday, with the first gold pour at its smelting facility occurring in early October.

The AIM-traded firm said the project, valued at $135.1m, was completed under budget and ahead of schedule, with construction finalised in 14 months.

MTR was now in its ramp-up phase, targeting a steady-state production throughput of 800,000 tonnes per month by December.

During its construction phase, MTR employed over 1,600 workers and achieved zero lost-time injuries across 1.5 million man-hours worked, Pan African reported.

"Pan African has established an enviable track record in executing world-class tailings retreatment projects," said chief executive officer Cobus Loots.

"We are pleased to announce the successful commissioning of the MTR operation in October, ahead of schedule and below budget.

"MTR is expected to supplement our current production profile by more than 50,000 ounces per year at an AISC of approximately $1,000 per ounce, with a life-of-mine of more than 20 years if we include reserves from our Soweto tailings cluster."

At 1037 GMT, shares in Pan African Resources were down 0.44% at 36.19p.

Reporting by Josh White for Sharecast.com.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

PAF Market Data

Currency UK Pounds
Price 136.00p
Change Today 7.10p
52 Week High 182.60p
52 Week Low 61.80p
Volume 6,240,905
Shares Issued 2,333.67m
Market Cap £3,173.79m

Performance Indicators

Compare performance with the sector and the market.

Key
Vs Market
Vs Sector
Value
market
  1. half market star
  2. empty market
  3. empty market
  4. empty market
  5. empty market
sector
  1. empty sector
  2. empty sector
  3. empty sector
  4. empty sector
  5. empty sector
Price Trend
market
  1. full market star
  2. full market star
  3. full market star
  4. full market star
  5. full market star
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. full sector star
  5. half sector star
Income
Not Available
Growth
market
  1. full market star
  2. full market star
  3. half market star
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. empty sector
  5. empty sector
Price Chg 6m
market
  1. full market star
  2. full market star
  3. full market star
  4. full market star
  5. full market star
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. full sector star
  5. half sector star
P/E
market
  1. full market star
  2. full market star
  3. empty market
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. empty sector
  4. empty sector
  5. empty sector
PEG
market
  1. full market star
  2. empty market
  3. empty market
  4. empty market
  5. empty market
sector
  1. empty sector
  2. empty sector
  3. empty sector
  4. empty sector
  5. empty sector
Dividend Yield
market
  1. half market star
  2. empty market
  3. empty market
  4. empty market
  5. empty market
sector
  1. full sector star
  2. empty sector
  3. empty sector
  4. empty sector
  5. empty sector
EPS Growth
market
  1. full market star
  2. full market star
  3. full market star
  4. full market star
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. half sector star
  5. empty sector
Operating Margin
market
  1. full market star
  2. full market star
  3. full market star
  4. half market star
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. full sector star
  5. half sector star