Aim- and JSE-listed gold miner Pan African Resources’ headline earnings and earnings a share for the six months ended December 31 are expected to be between 31% and 41% lower year-on-year, at $0.14 to $0.16.
The decreases in earnings and headline earnings a share for the six-month period, relative to the six months ended December 31, 2021, are largely as a result of a 19.2% decrease in gold revenue to $156.5-million.
In turn, this was the result of Pan African’s gold sold having decreased by 15.6% year-on-year to 90 439 oz for the period under review.
Pan African notes that its performance must be considered against the backdrop of a year-on-year change in the average and closing exchange rates of 15.2% and 6.3%, respectively.
Pan African will publish its interim results on February 15.