Pan African Resources PLC (PAF) Q3 2023 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.419 -- 00:00:03.963 Good morning to all of you and a warm welcome to our 2023. 00:00:03.963 -- 00:00:08.668 Mining for a future is not just an empty mantra. 00:00:08.668 -- 00:00:11.972 It's the foundation we build our business on. 00:00:11.972 -- 00:00:17.178 We keep our eyes firmly fixed on the horizon and it's filled with 00:00:17.178 -- 00:00:20.922 opportunity. Let's take a look. 00:00:20.922 -- 00:00:25.708 Mining is a complex endeavor and never without challenges. 00:00:25.708 -- 00:00:29.174 And this year was no exception. 00:00:29.174 -- 00:00:34.280 Nevertheless, it still saw a robust financial performance from the group, with 00:00:34.280 -- 00:00:38.385 exciting near-term projects and opportunities looming. 00:00:38.385 -- 00:00:43.111 Construction has begun at Mintels, with commissioning scheduled for the fourth quarter 00:00:43.111 -- 00:00:45.393 of 2024. This 00:00:45.393 -- 00:00:51.541 project will significantly increase group production, adding about 25% or 50,000 00:00:51.541 -- 00:00:57.187 ounces per year to Pan African's production over the next 20 years or more. 00:00:57.187 -- 00:01:02.233 while contributing to the environmental rehabilitation of the site. 00:01:02.233 -- 00:01:07.319 Evanda 8 shaft remains one of the lowest cost underground operations in Southern 00:01:07.319 -- 00:01:13.426 Africa, and the development of levels 24, 25 and 26 00:01:13.426 -- 00:01:19.093 will ensure sustainable production from this operation well into the future. 00:01:19.093 -- 00:01:24.198 The implementation of continuous operations at Barberton Mines over the last half 00:01:24.198 -- 00:01:29.629 year has resulted in an increase in production, with further optimization 00:01:29.629 -- 00:01:33.511 expected into the future. Finally, 00:01:...