Pan African Resources PLC (AIM:PAF, OTCQX:PAFRY, JSE:PAN, OTCQX:PAFRF) CEO Cobus Loots takes Proactive's Stephen Gunnion through the company's full-year results and its strategic direction.
Loots highlighted how the favourable gold price and increased production contributed to a successful year. He noted that gold production was up 6.2%, with Elikhulu performing particularly well, seeing a 9% rise. Furthermore, the company’s major project, Mintails, is set to significantly boost future output.
Despite a slight increase in all-in sustaining costs, Loots expressed confidence in Pan African's continued growth, supported by the upcoming commissioning of the Evander sub-vertical shaft. This, he said, will double waste capacity and improve operational flexibility. Loots also touched on the upcoming Mogale Tailings Retreatment project, expected to be commissioned by October 3rd, which has a recoverable gold reserve of 1.1 million ounces.
Looking ahead, Loots is optimistic about 2025, thanks to Pan African's solid cost guidance and growing production, positioning the company to capitalise on the favourable gold price environment.
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