Pan African Resources (PAF)

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Share Price:
129.60p
Market Cap:
£3,024.44m
Change Today:
11.20p
Sector:
Mining

Pan African Resources first-half profits drop

By Benjamin Chiou

Date: Monday 10 Feb 2025

LONDON (ShareCast) - (Sharecast News) - Shares in Pan African Resources were under pressure on Monday after the gold miner reported a big drop in first-half profits.
The company said headline earnings per share should be between 1.09 US cents and 1.31 cents for the six months to 31 December, down 38-49% on the 2.22 cents earned the year before.

This was partly due to a 18% drop in the amount of gold sold to 79,926 ounces, along with the opportunity cost associated with the synthetic forward transaction of $17.4m, compared with just $1.7m previously.

However, PAF said that this agreement finishes at the end of February 2025, after which it will fully benefit from the prevailing spot gold price of approximately $2,860/oz which is 21% higher than the average price registered during the first half.

Looking ahead, PAF said it was well position for "much improved production" in the second half, with further increases expected next fiscal year.

Shares were 5.2% lower at 39.95p by 1119 GMT.

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 129.60p
Change Today 11.20p
52 Week High 182.60p
52 Week Low 61.80p
Volume 5,210,553
Shares Issued 2,333.67m
Market Cap £3,024.44m

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