Pan African Resources Plc CEO Cobus Loots takes Proactive's Stephen Gunnion through the company’s first-half results, recent production challenges, and exciting growth plans. Despite a temporary dip in output due to commissioning delays at the Evander underground mine, Loots said the company expects a stronger second half, supported by the high gold price and increased production from its Mogale Tailings Retreatment (MTR) project.
Loots highlighted that MTR, which was delivered ahead of schedule and below budget, is set to produce around 50,000oz annually for 20 years at an all-in sustaining cost of $1,000. He also noted the potential for increasing MTR production to 60,000oz per year through cost-effective improvements.
Discussing the Tennant Consolidated Mining (TCM) acquisition in Australia, Loots confirmed that production is set to begin in April, with output guidance of 48,000-60,000oz next year. He emphasised that the majority of Pan African’s production will now come from low-cost surface operations.
With the company maintaining its 2025 production guidance at 215,000oz and forecasting an increase to up to 308,000oz in 2026, Loots expressed confidence in the company’s future.
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