Business
Unaudited Interim Results for the 6mths ended 3...
Unaudited Interim Results for the 6mths ended 3....
About this update from Pan African Resources Plc
[{"type":"text","content":"\n \nRegulatory announcement \n \nCompany Pan African Resources plc \n \nTIDM PAF \n \nHeadline Unaudited Interim Results \n \nReleased 26 February 2009 \n\n Pan African Resources PLC \n\n (`Pan African' or the `Company') \n\n(Incorporated and registered in England and Wales under Companies Act 1985 with\n registered number 3937466 on 25 February 2000) \n\n Share code on AIM: PAF \n\n Share code on JSE: PAN \n\n ISIN: GB0004300496 \n\n Unaudited Interim Results \n\n For the six months ended 31 December 2008 \n\nPan African Resources PLC (AIM: PAF, Altx: PAN), the African gold mining\ncompany, is pleased to report its unaudited interim results for the six-months\nended 31 December 2008.\n\nHighlights\n\n * Gross gold production up 7.8% to 51,186 oz (2007: 47,486 oz)\n \n * Cash-flow positive with gold sales of £24.9m up 71%.\n \n * EBITDA up 114% to £8.5 million (2007: £4.0m)\n \n * Headline earnings of £3.9 million (2007: £1.29m), an increase of 202%\n \n * Headline EPS 0.36 pence (2007: 0.13 pence), an increase of 173%\n \n * Total cash cost of US$451/oz sold (2007: US$514/oz sold), down 12%\n \n * Significant improvement in safety\n \n * Total Manica resource increased to 2.571Moz (2007 : 1.701Moz), an increase\n of 51%\n \n * Dividend of 0.2555 pence per share declared\n \nFinancial review for six-months ending 31 December 2008\n\n Six months Six months \n ended ended 31 \n December \n 31 December 2007 \n 2008 (Unaudited)\n (Unaudited) \n \n \n \nRevenue (GBP**) 24,940,383 14,596,037\n \nEBITDA (GBP**) 8,552,011 4,000,872\n \nAttributable profit (GBP**) 2,569,804 1,294,286\n \nEPS (pence) 0.23 0.13\n \nHEPS* (pence) 0.36 0.13\n \nWeighted average number of 1,100,517,684 965,777,998\nshares in issue \n \n \n \n \n \n* HEPS - Headline Earnings Per Share (refer to calculation under \nConsolidated Income Statement) \n \n**GBP - Pounds Sterling \n \n\nNature of the business\n\nPan African is a self-funding, unhedged gold mining and development company\nincreasingly focusing on mining and near-term-production assets that will yield\nlow-cost, high-margin projects on the African continent.\n\nIn addition to its 74% stake in Barberton (Shanduka Resources is a 26%\nshareholder), Pan African has been exploring and developing concessions in\nMozambique, the Central African Republic and Ghana.\n\nFinancial Results\n\nWe were pleased...