Pan African Resources CEO Cobus Loots joined Steve Darling from Proactive to discuss the company's performance and prospects.
Pan African Resources is a South African-based gold mining company with attractive margins and long-life assets. Despite some challenges in the past year, the company is optimistic about its growth and expansion plans. The production side has seen improvements, with increased production at the Barberton underground mine and progress at the Evander underground mine.
Loots emphasized the balance between underground mining and surface operations, with the Kulu operation performing well and generating strong cash flows. Additionally, Pan African Resources highlighted the favorable gold price it has been receiving. Continuous improvements and safety measures are vital aspects of the company's operations.
One significant development for Pan African Resources is the upcoming construction of the Mintails project, a promising addition to its portfolio. With a reserve of nearly 2 million ounces and a low acquisition cost, the project is expected to produce 50,000 ounces of gold annually for 20 years at attractive margins.
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Pan African Resources PLC