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17 May 2019 | 07:57

Pan African Resources gold output jumps 51%; affirms annual guidance

Pan African Resources said it boosted gold production by 51% in the first nine months of its financial year.

Output for the nine months through march rose to 123,771 ounces, up from 81,729 ounces on-year.

The company said the rise was driven by a robust performances from Barberton Mines' underground operations and the group's tailings retreatment plants.

'We are confident the group remains on track to meet its gold production guidance of 170,000oz for the full financial year to end 30 June 2019,' chief executive Cobus Loots said.

'With Elikhulu producing at a steady state for a full year and the incremental contribution from Evander's Pillar operation, we expect to produce approximately 185,000oz of gold for the 2020 financial year, which is a sizeable increase in our gold production profile.'

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