10th Sep 2026 11:33
(Alliance News) - Pan African Resources PLC on Thursday said it expects annual earnings per share to more than double, driven by higher gold prices and increased gold sales.
The Rosebank, South Africa-based gold producer said earnings per share for the year ended June 30 is expected to be between 17.24 US cents and 17.96 US cents, more than double the 7.16 US cents reported a year earlier.
Headline earnings per share is expected to be between 17.35 US cents and 17.94 US cents, up between 195% and 205% from 5.89 US cents a year earlier.
The improvement was primarily driven by higher revenue, the company said. In June, Pan African reported that it had completed the acquisition of Emmerson Resources Ltd and had been admitted to the ASX.
Shares in Pan African Resources were down 4.6% at 128.20 pence per share on Thursday morning in London. In Johannesburg they were 5.4% lower at ZAR27.95.
The average gold price received rose 55% to USD4,235 per ounce from USD2,735 a year earlier, while gold sales increased 38% to 272,373 ounces from 196,926 ounces, underpinning revenue growth.
Pan African also said it expects to meet its full-year all-in sustaining cost guidance of USD1,870 per ounce.
Other exceptional expenses in the current reporting period include an increase of around USD40.0 million in its share-based payment liability, "arising from the appreciation in the share price of the company over the period," Pan African said.
The company said it expects production to increase further in the year ending June 2027 to between 280,000 ounces and 302,000 ounces.
Pan African will publish results for the year ended June 30 on September 16.
By Niall Holden, Alliance News reporter
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