Pan African Resources (PAF.L,PAN.JO) issued an operational update ahead of the financial year ending 30 June 2026. The company recorded an increase of approximatley 40% in annual gold production to approximately 275,000oz, in line with the lower end of fiscal 2026 production guidance of 275,000oz to 292,000oz.
The Group is now in a net cash position, with the only outstanding debt being the domestic medium-term notes of $49.7 million. Group projected cash position is approximately $220 million at the end of fiscal 2026. Total capital expenditure for fiscal 2026 is forecasted at $180 million.
Group production for fiscal 2027 is expected to be between 280,000oz and 302,000oz. The Group's capital expenditure guidance for fiscal 2027 has been revised to $324 million.
Shares of Pan African Resources are trading at 122.10 pence, down 11.33%.
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