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Pan African Resources reports rise in gold production; on track to deliver full-year guidance of 190

By BFN News | 08:57 AM | Friday 22 January, 2021


Mining company Pan African Resources has reported an increase in group gold production for the first six months of the year, up by 5.9% to 98,386oz. In an operational update, chief executive Cobus Loots said the company is on track to deliver its full-year production guidance of approximately 190,000oz. Gold production from Barberton Mines for the six months ended 31 December 2020 was 52,354oz, while Elikhulu and Evander Mines produced 26,863oz and 19,169oz respectively. Group net debt decreased by 47.3% to $65.2 million, down from $123.7million in 2019. It confirmed that construction of the solar photovoltaic plant at Evander Mines will commence during the first quarter of the 2021 calendar year, with first power expected to be generated during the third quarter of 2021. At 8:57am: (LON:PAF) Pan African Resources PLC share price was 0p at 21.3p Story provided by StockMarketWire.com

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