- FY17 results in line
Notwithstanding a reclassification of both Uitkomst and Phoenix as ‘discontinued operations’ in FY17, PAF’s net profits of £17.9m were within 3% of our estimate, while the proposed dividend was exactly in line. Notable variances compared with our prior expectations included the tax charge, which was materially lower and approximately balanced an equal and opposite deterioration in ‘other income’. All told, the group produced 173koz of gold during the period at a cash cost of US$986/oz.Pan African Resources is a mid-tier African-focused precious metals producer. Co.'s business activities were conducted through the following business segments: Barberton Mines (including Barberton Tailings Retreatment Plant), located in Barberton, South Africa; Evander Mines (including Evander Mines' Tailings Retreatment Plant), located in Evander, South Africa;Corporate; and Pan African Resources Funding Company Proprietary Limited.
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