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Pan African Resources increases gold production in South Africa

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(Kitco News) - Pan African Resources today announced its operational update for the six months ended 31 December 2020.

According to the company's statement, the group's gold production during half-year ended December 31, 2020 increased by 5.9% to 98,386oz (2019: 92,941oz).

Gold production from Barberton mines for the period was 52,354oz, while Elikhulu and Evander mines produced 26,863oz and 19,169oz respectively.

The company said that its net debt decreased by 47.3% to US$65.2 million (2019: US$123.7 million) and that Pan African is on track to deliver its full year production guidance of approximately 190,000oz.

Pan African Resources is a mid-tier African-focused gold producer, dual-listed on the London AIM market and the Johannesburg Stock Exchange. The company owns and operates a portfolio of South African operations with a production capacity of approximately 200,000oz of gold per annum.

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