Sales slump slashes Pan African headline earnings in half
After missing out on a gold boom, Pan African Resources said it would be materially unhedged from March
12 February 2025 - 15:09
SA gold producer Pan African Resources reported a 43.7% drop in headline earnings per share (HEPS) for the six months to end-December as the group’s attempt to hedge against shifts in the gold price backfired.
The miner, valued at about R20bn on the JSE, reported headline earnings at 1.20 US cents per share as gold output for the first half came in 13% lower than the previous comparable period...
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