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Operational Update ahead of year ending 30 Ju...
Pan African Resources PLC anticipates a record gold production of approximately 275,000 ounces for the year ending June 30, 2026, a significant increase from 196,527 ounces in FY25, with projected all-in sustaining costs of US$1,870/oz. The company expects to achieve a projected cash position of US$220 million by year-end, moving into a net cash position after strategic investments and debt repayment. Guidance for FY27 production is between 280,000oz and 302,000oz, with all-in sustaining costs ranging from US$2,075/oz to US$2,175/oz. Capital expenditure for FY27 is revised to US$324 million, driven by accelerated development at Tennant Mines and renewable energy projects. The proposed acquisition of Emmerson Resources Limited is expected to conclude in July 2026, and the company has secured strategic cyanide supplies and diesel reserves to mitigate supply chain risks. Disclaimer*
About this update from Pan African Resources Plc
Pan African Resources PLC (Incorporated and registered in England and Wales under the Companies Act 1985 with registered number 3937466 on 25 February 2000) Share code on LSE: PAF Share code on JSE: PAN ISIN: GB0004300496 ADR ticker code: PAFRY (‘Pan African’ or the ‘Group’ or the ‘Company’) Pan African Resources Funding Company Limited Incorporated in the Republic of South Africa with limited liability Registration number: 2012/021237/06 Alpha code: PARI OPERATIONAL UPDATE AHEAD OF YEAR ENDING 30 JUNE 2026 Pan African is pleased to provide its shareholders and noteholders with an operational update ahead of the financial year ending 30 June 2026 (FY26). HIGHLIGHTS Improvement in safety statistics with continued focus on safety initiatives Record annual and half-year gold production Increase of ~40% in annual gold production to approximately 275,000oz, in line with the lower end of FY26 production guidance of 275,000oz to 292,000oz (FY25: 196,527oz) Material increase in gold production in FY26H2 compared to FY26H1 (~14% increase) to 147,000oz (FY26H1: 128,296oz) Excellent production performances from the Elikhulu Tailings Retreatment Plant (Elikhulu) and Mogale Tailings Retreatment (MTR) surface operations and the Evander and Barberton Mines underground operations offset slower than anticipated ramp up of production from Tennant Mines Tennant Mines FY27 production expected to increase significantly as the operation commences mining of the White Devil deposit Despite inflationary pressures, the Group is expected to achieve full-year all-in sustaining cost (AISC) guidance of US$1,870/oz (at an exchange rate of US$/ZAR:17.00) Record operating cash flow generation with Group projected cash position of ~US$220 million at the end of FY26 Impacted by strategic investment of US$10.3 million in CuFe Limited and securing strategic cyanide supplies (US$7.0 million) The Group is now in a net cash position (net debt of US$46.2 million at 31 December 2025), with the only outstanding debt being the domestic medium-term notes (DMTNs) of US$49.7 million Measures in place at all operations to mitigate potential fuel and reagent shortages resulting from Middle East conflict FY27 production guidance of 280,000oz-302,000oz at an AISC of between US$2,075/oz and US$2,175/oz (at an exchange rate of US$/ZAR:17.00) AISC estimates al...
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