Pan African is expecting production for the financial year ending 30 June 2024 to be between 186,000 ounces (oz) and 190,000oz of gold from the previous 180,000oz to 190,000oz.
If production from the marginal surface sources at Evander Gold Mines (EGM), which contributed about 2,500oz in the first half of the current financial year had not ceased but maintained in the second half of the financial year, group production for the full financial year would have been more than 190,000oz.
"We are pleased that Pan African will achieve the upper end of our full-year production guidance, and would have exceeded guidance had we continued with the processing of surface material at Evander in the second half of the financial year,” said Pan African chief executive Cobus Loots.
“The robust production results, combined with record Rand gold prices, should see the Group deliver an excellent financial performance for the year.”
The company has set the production guidance for the 2025 financial year to between 215,000oz and 225,000oz.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
