Pan African Resources PLC - mid-tier gold miner with operations in South Africa - Expects to posts earnings per share of between 2.23 US cents per share and 2.40 cents per share for its financial year ended June 30, having posted an EPS of 1.97 cents the year before. Headline EPS is forecast at 2.23 cents to 2.35 cents, up from 1.19 cents. The improvement is due to a 26% increase in gold revenue to USD272.7 million from USD217.4 million which was the result of a 1.3% increase in gold sold as well as a 24% increase in the average gold price received to USD1,574 per ounce.
Current stock price: 25.20 pence in London; ZAR5.58 in Johannesburg
Year-to-date change: up more than 100% from 12.00p in London and ZAR2.16 in Johannesburg on December 31.
By Anna Farley; annafarley@alliancenews.com
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Pan African (PAF)