Pan African Resources has completed a definitive feasibility study on its Soweto Cluster tailings retreatment project, pricing it at R3.68bn and pencilling in a final investment decision for December 2026.
Pan African Resources expects headline earnings per share to rise by 195% to 205% for the year to June 2026, after output rose 38% to 272,373oz, at the bottom of guidance, and costs landed at the top end.
Pan African Resources said multiple parties have approached it about co-investing in the Poplar gold project near Evander, an early-stage target estimated at 6.6 million ounces.
Pan African Resources said on 1 June 2026 that annual gold production would rise about 40% to roughly 275,000oz, at the lower end of guidance, as surface retreatment operations outperformed a slower Tennant ramp-up.
Pan African Resources is buying ASX-listed Emmerson Resources for about A$311m to gain full ownership of the Tennant Creek mineral field in Australia's Northern Territory, with the deal expected to close in July 2026.
Pan African Resources reported record annual profit for the year to June 2025 and guided to a near-40% rise in production for FY2026, while confirming plans to shift its primary listing to London.
Pan African Resources began a R200m share buyback on 1 July 2025, arguing its stock remained undervalued even after a near-80% rally over the previous year.
Pan African Resources booked record interim profit on higher gold prices, but rising costs at its Barberton underground operations and reopening risk at Nobles left some analysts wary about the growth story.
