Pan African Resources: Are you here for a good time or a long time?
The miner’s Mintails project is expected to increase annual gold production to as much as 220,000oz
Shares in gold miner Pan African Resources have doubled this year, which is a signal to investors to steer clear of the company. At just over 33p a share, the company is quickly advancing on target prices of 33p-35p forecast by investment banks, which were positive on the company’s prospects following its full-year results in September.
“We expect Pan African to enter a period of enhanced profitability,” said Richard Hatch, an analyst for Berenberg Bank in the UK. The major driver for Pan African is its R2.4bn Mintails project, which it’s commissioning this week. The project is expected to increase annual gold production to as much as 220,000oz — roughly 40,000oz more than in the 2024 financial year...
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