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Pan African Resources PLC - Rosebank-headquartered gold producer - Expects interim earnings to decrease due to lower sales. Both headline earnings per share and earnings per share are likely to fall to between 1.40 US cents and 1.64 cents for the six months that ended December 31, from 2.39 cents a prior year. This represents a decline of between 31% and 41%. These lower earnings are due largely to a 19% decrease in gold revenue to $156.5 million from $193.6 million. Pan African Resources says gold sold decreased by 16% to 90,439 ounces in the first half from 107,142 ounces previously. The average gold price received decreased by 4.4% to $1,725 an ounce from $1,804 an ounce. Late lat month, the group said gold output fell by 15% to 92,307 ounces for the first six months to December 31, from 108,085 ounces a year prior. The group expects interim financial results on Wednesday next week. Current stock price in Johannesburg: R 3.39, down 2.6% on Friday 12-month change: down 15% Current stock price in London: 15.72 pence, down 1.0% 12-month change: down 19% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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