Pan African expects HEPS to nearly triple on higher gold price - Business Day

AI desk brief

Pan African Resources said full-year HEPS should almost triple to 17.35-17.94 US cents from 5.89c, driven by a 54.8% rise in realized gold price to $4,235/oz and 38.3% higher gold sales to 272,373oz. AISC-equivalent production cost is guided at about $1,870/oz, leaving a wider margin at current pricing, while the company also expects a roughly $40m increase in share-based payment liabilities after the stock rally.

For FY2027, group production is guided higher at 280,000-302,000oz, mainly on ramp-up at Tennant Mines in Australia, where Pan African has a medium-term target of about 100,000oz/year as additional deposits are developed. The update underscores how leveraged mid-tier producers remain to spot gold and output growth ahead of full-year results on Sept. 16.