Mid-tier gold miner Pan African Resources has increased its net profit by almost half after upping its interim gold production and taking advantage of a buoyant price for the precious metal.
“The introduction of continuous operations at Barberton Mines’ Fairview and Sheba Mines has made a positive impact on production and further improvements will become evident once optimisation of the underground infrastructure is fully implemented,” comments Cobus Loots, Pan African’s chief executive officer.
Pan African Resources more than doubled its cash flow and increased profit by almost 50% in its latest half-year.
Pan African Resources PLC on Wednesday described its interim performance as “excellent”, with its profit and top-line growing, while costs ebbed.
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