PAN African Resources has reported a year of record operational performance and financial results, its biggest dividend and also flagged further growth in coal. CEO Cobus Loots said: "The Pan African Resources group delivered an outstanding set of results for the 2016 financial year. These results include a year of record gold production and profits, and the largest dividend payment to date." Profit for the year to June ballooned 160% from the previous year to R547m, for the London-and Johannesburg-listed gold, platinum and coal producer. Pan African declared a final dividend of R300m or 15.438c a share, compared with the R210m payment last year that equated to 11.466c a share. An improved performance at its Evander mine, which has come out of a low-grade cycle, the inclusion of a tailings retreatment project at the gold mine, income from its Uitkomst colliery and a substantially higher rand gold price all contributed to a 43% growth in revenue to R3.6bn. Gold sales for the year ros...
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