Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here!
(Wallace Refiners) – Pan African Resources today announced its operational update for the six months ended 31 December 2020.
According to the company’s statement, the group’s gold production during half-year ended December 31, 2020 increased by 5.9% to 98,386oz (2019: 92,941oz).
Gold production from Barberton mines for the period was 52,354oz, while Elikhulu and Evander mines produced 26,863oz and 19,169oz respectively.
The company said that its net debt decreased by 47.3% to US$65.2 million (2019: US$123.7 million) and that Pan African is on track to deliver its full year production guidance of approximately 190,000oz.
Pan African Resources is a mid-tier African-focused gold producer, dual-listed on the London AIM market and the Johannesburg Stock Exchange. The company owns and operates a portfolio of South African operations with a production capacity of approximately 200,000oz of gold per annum.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Wallace Precious Metals The author has made every effort to ensure accuracy of information provided; however, neither Wallace Precious Metals nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Wallace Precious Metals and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.