Pan African to report significant jump in interim EPS, HEPS
JSE- and LSE-listed gold producer Pan African Resources has advised shareholders that its earnings per share (EPS) for the six months ended December 31, 2025, are expected to be between $0.0718 a share and $0.0743 a share, compared with the EPS of $0.025 a share reported for the six-month period ended December 2024.
This represents an increase in EPS of between 187% and 197%.
Pan African says headline earnings per share (HEPS) for the current reporting period are expected to be between 507% and 517% higher year-on-year at between $0.0728 and $0.074.
The previously published EPS for the corresponding reporting period of $0.0235 a share has been restated.
The company explains that the restatement arose from the acquisition of Tennant Consolidated Mining Group, in Australia, initially being accounted for on a provisional basis.
The accounting was finalised by June 30, 2025, and the provisional amounts recognised as at December 31, 2024, have been restated to reflect the resulting measurement period adjustments.
Pan African notes that this increase in EPS and HEPS for the current reporting period, relative to the corresponding reporting period, is primarily attributable to an increase in revenue of 157.3%.
The company explains that this comes as a result of an increase of 61.6% in the average dollar gold price received to $3 812/oz, and an increase in gold produced of 51.5% to 128 296 oz.
Additionally, group production is expected to increase further during the second half of the financial year ending June 30, largely attributable to increased production from the Mogale Tailings Retreatment expansion project, in Mogale City, South Africa and from Tennant Mines, with full-year production guidance of 275 000 oz to 292 000 oz.
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