- Pan African Resources (PAR) saw a 30% profit increase due to high gold prices and improved output, with revenue rising 16.8% to $373.8 million and headline earnings up 32% to $79.5 million.
- The company’s production increased by 6.2% to 186,039 ounces, driven by enhancements at its mines, including Elikhulu, Fairview, and Sheba.
- Despite the gains, all-in sustaining costs (AISC) rose slightly to $1,354 per ounce, partly due to delays in the Evander Mines project.
- CEO Cobus Loots highlighted the need for a strong business model to manage future gold price volatility and mentioned ongoing efforts to ensure long-term sustainability.
- The board proposed a final dividend of R489 million for the 2024 financial year, reflecting the company’s track record of strong returns and shareholder dividends.
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