By Anthony O. Goriainoff
Pan African Resources met its revised gold production guidance for fiscal 2023 and expects increased production at its Barberton underground mines as continuous operations and other improvements have helped production, it said Monday.
The South Africa-focused mining company said that for the year ended June 30, gold production was 175,209 ounces. In May the company cut its gold production guidance to around 175,000 ounces from prior guidance in the 195,000 to 205,000 ounces range.
For fiscal 2024 the company is guiding for production in the 178,000 to 190,000 ounces range.
The London-listed company said its net senior debt fell to $18.9 million from $49.9 million in December.
Shares at 0712 GMT were up 0.06 pence, or 0.4%, at 14 pence.
Write to Anthony O. Goriainoff at [email protected]
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