Pan African Resources delivered record gold production of 272,310oz for the year ended 30 June 2026, an increase of 39% year-on-year and within full-year guidance. The performance reflects a full first year of Tennant Mines production in Australia, a 68% increase in underground output at Evander, and consistent contributions from the Group’s low-cost surface tailings operations.
Revenue increased 114% to US$1,156.5 million on higher production and an average gold price received of US$4,235/oz (FY25: US$2,735/oz). Profit for the year grew 152% to US$357.2 million, and Adjusted EBITDA rose 169% to US$609.4 million.
Group safety performance also improved: LTIFR fell to 1.41 (FY25: 1.58) and the surface remining operations, Elikhulu and MTR, achieved zero lost-time injuries and zero reportable injuries during the year, an exceptional milestone.
For investors, the takeaway is simple: this is delivery across every measure that matters: production, cost discipline, safety and earnings, at a time of record institutional scrutiny following LSE Main Market listing, FTSE 250 inclusion and, this year, a new ASX listing.