Mining News

Pan African reports record profit, proposes highest ever dividend

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Gold mining company Pan African Resources on Wednesday reported record after-tax-profit, higher gold production and proposed its highest ever dividend. In the 12 months to June 30, the company, headed by CEO Cobus Loots, recorded a 12.4% increase in group gold production to 201 777 oz, a 36% increase in operating profit to $128-million, a 14% improvement in all-in sustaining cost (AISC) margin to 30.9%, record profit after tax of $74.7-million, a 68.3% increase in earnings per share to $3.87c a share and 69% increase in headline earnings per share (HEPS). (Also watch attached Creamer Media video of presentation by Pan African FD Deon Louw.)

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