Pan African Resources announces record production and share buyback

Pan African Resources (JSE:PAN) announced record gold production for the second half of its financial year (FY25H2), with output estimated at 112,000 ounces, a 32% increase compared to FY25H1. The group expects net debt to decrease to approximately USD155 million as of June 30, 2025, a 32% reduction from December 31, 2024. A share buyback program of up to ZAR200 million has been approved. FY25 full year production is expected to be approximately 197,000oz. Production for FY26 is forecast between 275,000oz and 292,000oz. Group all-in sustaining costs (AISC) for FY25H2 estimated between USD1,525 and USD1,550. The company expects to be fully degeared within the next 12 months and will be unhedged from July 1, 2025.