A STRONG operational performance, the addition of revenue from its new coal project and a strong rand gold price had driven Pan African Resources profits sharply higher, the company said on Tuesday.Earnings per share are forecast to be up to 177% higher than the 11.48c earnings per share posted in 2015, while headline earnings per share are seen to be up to 172% higher than 2015’s 11.67c.The Evander mine, which has come through a low-grade cycle, has increased gold output nearly a third, rising to 91,647oz for the year, while the Barberton mine has generated 7% more gold at 113,281oz. The Uitkomst colliery in KwaZulu-Natal contributed 136,102 tonnes to Pan African for the first time.Pan African did not release cost performances in its notification to shareholders. The gold price in rand terms increased 22% to R542,850/kg compared to a year earlier."We think that Pan African remains highly free cash flow generative relative to the South African gold sector, even under stressed scenar...
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