11th Feb 2026 07:35
(Alliance News) - Pan African Resources PLC on Wednesday credited a strong gold price for positive half-year results.
The Rosebank-headquartered gold producer guided earnings per share of between 7.18 US cents and 7.43 cents for the six months that ended December 31, multiplied from 2.50 cents a year earlier. Headline earnings per share is estimated at between 7.28 cents and 7.40 cents, up from 1.20 cents.
Pan African restated EPS for the year before, previously reported as 2.35 cents, to account for the acquisition of Tennant Consolidated Mining Group Pty Ltd.
The junior gold producer attributed its projected earnings for the first half to robust gold price and higher production. The average gold price received surged 62% to USD3,812 an ounce from USD2,359 a year before, and gold output rose 51% to 128,296 ounces from 84,705.
Pan African expects production to increase further during the second half of the 2026 financial year, largely as a result of increased production from the Mogale tailings retreatment expansion project and from Tennant Mines, with full-year production guidance of 275,000 ounces and 292,000. For the financial year that ended June 30, 2025, production was 196,527 ounces.
Late last month, Pan African declared a maiden interim dividend of 12 rand cents or 0.74488 US cents, after cutting debt substantially.
Pan African said it intends to release its interim financial results on February 18.
In Johannesburg, Pan African shares were up 2.9% to ZAR31.20 on Wednesday morning.
By Artwell Dlamini, Alliance News senior reporter South Africa
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