Business
Cons. unaudited prov. results for year ended 30...
Cons. unaudited prov. results for year ended 30....
About this update from Pan African Resources Plc
[{"type":"text","content":"\n \nPan African Resources PLC\n\nConsolidated unaudited provisional results for the financial year ended\n\n30 June 2008\n\nPan African Resources PLC\n\n(`Pan African' or the `Company')\n\n(Incorporated and registered in England and Wales under the Companies Act 1985\nwith registered number 3937466 on 25 February 2000)\n\nShare code on AIM: PAF\n\nShare code on AltX: PAN\n\nISIN: GB0004300496\n\nSALIENT FEATURES\n\n- EBITDA of £13,7 million\n\n- Gold sales of 99,078 oz\n\n- Total cash cost of US$ 476/oz sold\n\n- Acquisition of Barberton Mines\n\n- Now an unhedged gold company\n\n- Considerable progress and encouraging results from exploration projects\n\n- Geological footprint in West Africa enhanced through the acquisition of three\ngold properties in Ghana\n\nFINANCIAL PERFORMANCE\n\n 12 months ended 30 12 months ended 30\n June 2008 June 2007\n (Unaudited)\n (Unaudited) \n \nRevenue (GBP) 39,254,557 26,684,796\n \nCash Mining Profit (GBP) 13,710,819 5,804,036\n \nAttributable profit (GBP) 5,460,067 2,067,985\n \nEPS (pence) 0.52 0.35\n \nHEPS (pence) 0.52 0.35\n \nWeighted average number of 1,043,789,285 593,740,476\nshares in issue \n\n* HEPS - Headline Earnings Per Share - refer to calculation under Consolidated\nIncome Statement \n\nComparative information for the previous year incorporates 12 months of\nBarberton in terms of IFRS 3: Business Combinations as the Company's\nacquisition of Barberton represents a reverse takeover. The figures for the\nyear ended 30 June 2008 incorporates 12 months of Barberton and 11 months of\nPan African.\n\nOVERVIEW\n\nPan African is a gold mining, development and exploration Company on the\nAfrican continent with both production ounces and a portfolio of exploration\nassets.\n\nThe acquisition of Barberton Mines (Pty) Ltd (\"Barberton\") in South Africa\nduring 2007 transformed the Company from a junior exploration company to a\nmid-tier gold producer with a pipeline of exploration projects. The resultant\ncash flow and enhanced metallurgical, engineering and mining skills base enable\nthe Company to pursue mining and exploration projects to further grow the\nCompany.\n\nIn addition to its 74% stake in Barberton (Shanduka Resources is a 26%\nshareholder), Pan African is exploring concessions in Mozambique, the Central\nAfrican Republic, South Africa and Ghana. The Company is also activ...