Business
Interim Production Update for half year endin...
Interim Production Update for half year endin....
About this update from Pan African Resources Plc
[{"type":"text","content":"\n\n \n \n\n\n\n\n\t\t\t\t\t\t\t\t\tPan African Resources PLC\t\t\t\t\t\t\t\t\tPan African Resources Funding Company\t\t\t\t\t\t\t\t\t\t\t\t\t(Incorporated and registered in England and Wales\t\t\t\t\t\t\t\t\tLimited\t\t\t\t\t\t\t\t\t\t\t\t\tunder Companies Act 1985 with registered\t\t\t\t\t\t\t\t\tIncorporated in the Republic of South Africa\t\t\t\t\t\t\t\t\t\t\t\t\tnumber 3937466 on 25 February 2000)\t\t\t\t\t\t\t\t\twith limited liability\t\t\t\t\t\t\t\t\t\t\t\t\tShare code on AIM: PAF\t\t\t\t\t\t\t\t\tRegistration number: 2012/021237/06\t\t\t\t\t\t\t\t\t\t\t\t\tShare code on JSE: PAN\t\t\t\t\t\t\t\t\tAlpha code: PARI\t\t\t\t\t\t\t\t\t\t\t\t\tISIN: GB0004300496\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t\t\tADR code: PAFRY\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t(“Pan African” or “the Company” or “the Group”) ROBUST GOLD PRODUCTION EXPECTED FOR THE HALF YEAR ENDING DECEMBER 2023 AND EXCELLENT PROGRESS MADE WITH THE CONSTRUCTION OF THE MOGALE TAILINGS RETREATMENT (MTR) PLANT Pan African is pleased to provide its shareholders and noteholders with an interim production update and details on construction progress at the MTR Plant. A full operational update covering the first half of the 2024 financial year, progress with the Group’s organic growth projects and ESG initiatives will be released in January 2024. GROUP GOLD PRODUCTION FOR SIX MONTHS ENDING DECEMBER 2023 (H1 2024)\tGold production for the half year is expected to be between 94,000oz to 98,000oz (H1 FY2023: 92,307oz), an increase of between 2% and 6%, respectively\tOperations performing in line or better than anticipated, with half year production forecast as follows:\t\t\tBarberton Mines underground: 37,000oz – 38,000oz (H1 FY2023: 32,022oz). The implementation of continuous operations at Barberton Mines enabled an increase in mined tonnages and grades, when compared to the prior period\t\tEvander Mines underground: 20,000 – 21,000oz (H1 FY2023: 19,173oz). Higher grade ore from 24 Level at Evander’s underground operations and improved conveyor belt availability contributed to improved gold production. Equipping of the ventilation shaft for hoisting of waste and production ore from 24 to 26 Levels remains on track for commissioning during the first quarter of calendar year 2024\t\tElikhulu tailings retreatment: 27,000oz – 28,000oz (H1 FY2023: 25,830oz)\t\tEvander su...