JOHANNESBURG – African-focused gold producer Pan African Resources said on Friday it had exceeded its full year production guidance of 170,000 ounces, resulting in output increasing by 7.5 percent to 172,442 ounces or 54.1 percent on continuing operations, compared with the previous period.
The company however condemned the criminal activity currently taking place and perpetrated by what it called opportunistic criminals and a limited number of community members outside its operations at subsidiary Barberton Mines.
In an operational update, Chief Executive Cobus Loots said the group had emerged from the year ended June 30 "as a safe, low-cost and long-life gold producer, following the successful execution of our strategy".
He said Pan African Resources had delivered this performance through the cessation of the high cost underground mining at Evander Mines and the successful commissioning of the Elikhulu tailings retreatment plant, while Barberton Mines achieved a significant increase in production.
"We continue to assess the optionality of our portfolio and are looking to build upon this year’s momentum to drive further growth," Loots said.