REG-Pan African Resources PLC: Provisional audited results to 30/06/15 & dividend <Origin Href="QuoteRef">PAFR.L</Origin> <Origin Href="QuoteRef">PANJ.J</Origin> - Part 4

Pan African ResourcesAnnouncement

16/09/2015 07:00

- Part 4: For the preceding part double click  ID:nPRrF59A2c 

                                         
                                                                                      
Management fees                 (30.0)    (22.5)    (2.7)      55.2        -         -
                                                                                      
inter-company interest           (1.0)    (22.1)    (0.2)     (0.3)     23.6         -
charges                                                                               
                                                                                      
Profit /(loss) after             292.7    (77.1)     12.3    (17.9)      0.2     210.2
taxation after inter-company                                                          
charges                                                                               
                                                                                      
Segmental Assets (Total        1,069.7   2,831.4    209.4      47.4     18.0   4,175.9
assets excluding goodwill)                                                            
                                                                                      
Segmental Liabilities            415.5   1,022.7     18.0      38.1    246.6   1,740.9
                                                                                      
Goodwill                         303.5         -        -         -        -     303.5
                                                                                      
Net Assets (excluding            654.2   1,808.7    191.4       9.3  (228.6)   2,435.0
goodwill)                                                                             
                                                                                      
Capital Expenditure              112.6     238.2      0.6       0.6        -     352.0

Note 1: All gold sales were made in the Republic of South Africa and the
majority of revenue was generated from sales via Rand Refinery (Pty) Ltd and
Institutional banks.

Note 2: Other expenses exclude inter-management fees and dividend received

                                                  30 June 2014                      
                                                                                    
                             Barberton Evander  Phoenix  Corporate Funding   Group  
                               Mines    Mines   Platinum    and    Company          
                                                          Growth                    
                                                         Projects                   
                                                                                    
                               ZAR'      ZAR'     ZAR'     ZAR'     ZAR'     ZAR'   
                              million  million  million   million  million  million 
                                                                                    
Revenue                                                                             
                                                                                    
Gold sales (note 1)            1,511.1  1,025.8        -         -       -   2,536.9
                                                                                    
Platinum Sales                       -        -     71.9         -       -      71.9
                                                                                    
Realisation costs                (4.5)    (1.4)        -         -       -     (5.9)
                                                                                    
On - mine revenue              1,506.6  1,024.4     71.9         -       -   2,602.9
                                                                                    
Gold cost of production        (826.9)  (913.4)        -         -       - (1,740.3)
                                                                                    
Platinum cost of production          -        -   (55.6)         -       -    (55.6)
                                                                                    
Depreciation                    (65.9)   (93.8)    (9.4)         -       -   (169.1)
                                                                                    
Mining Profit                    613.8     17.2      6.9         -       -     637.9
                                                                                    
Other (expenses)/income         (28.8)     14.5    (0.3)     (9.8)   (0.3)    (24.7)
(note 2)                                                                            
                                                                                    
Bargain purchase                     -        -        -         -       -         -
                                                                                    
Loss from associate                  -        -        -     (2.9)       -     (2.9)
                                                                                    
Loss on disposal of              (0.2)        -        -         -       -     (0.2)
associate                                                                           
                                                                                    
Impairment costs                     -        -        -         -       -         -
                                                                                    
Royalty costs                   (36.9)      2.8        -         -       -    (34.1)
                                                                                    
Net income / (loss) before       547.9     34.5      6.6    (12.7)       -     576.0
finance income and finance                                                          
costs                                                                               
                                                                                    
Finance income                     2.9      5.8        -       2.9       -      11.6
                                                                                    
Finance costs                    (0.6)    (0.1)        -         -  (14.1)    (14.8)
                                                                                    
Profit /(loss) before            550.2     40.2      6.6     (9.8)  (14.1)     572.8
taxation                                                                            
                                                                                    
Taxation                       (151.4)     30.9    (2.9)       2.5     0.2   (120.7)
                                                                                    
Profit /(loss) after             398.8     71.1      3.7     (7.3)  (13.9)     452.1
taxation                                                                            
                                                                                    
Inter-company transactions                                                          
                                                                                    
Management fees                  (8.6)    (5.7)    (0.5)      14.8       -         -
                                                                                    
inter-company interest               -   (14.6)        -         -    14.6         -
charges                                                                             
                                                                                    
Profit /(loss) after             390.2     50.8      3.2       7.5     0.7     452.1
taxation after inter-company                                                        
charges                                                                             
                                                                                    
Segmental Assets (Total        1,035.9  2,746.1    223.8      55.1     0.5   4,061.4
assets excluding goodwill)                                                          
                                                                                    
Segmental Liabilities            416.7  1,119.2     11.2      27.4     2.1   1,576.6
                                                                                    
Goodwill                         303.5        -        -         -       -     303.5
                                                                                    
Net Assets (excluding            619.2  1,626.9    212.6      27.7   (1.6)   2,484.8
goodwill)                                                                           
                                                                                    
Capital Expenditure              151.0    210.5      0.4       1.1       -     363.0

Note 1: All gold sales were made in the Republic of South Africa and the
majority of revenue was generated from sales via Rand Refinery (Pty) Ltd and
Institutional banks.

Note 2: Other expenses exclude inter-management fees and dividend received

CONTACT INFORMATION

Corporate Office
The Firs Office Building
1st Floor, Office 101
Cnr. Cradock and Biermann Avenues
Rosebank, Johannesburg
South Africa
Office:   + 27 (0) 11 243 2900
Facsimile: + 27 (0) 11 880 1240

Registered Office
Suite 31
Second Floor
107 Cheapside
London
EC2V 6DN
United Kingdom

Office:    + 44 (0) 20 7796 8644
                                
Facsimile: + 44 (0) 20 7796 8645

   

Cobus Loots                                     Deon Louw                                      
                                                                                               
Pan African Resources PLC                       Pan African Resources PLC                      
                                                                                               
Chief Executive Officer                         Financial Director                             
                                                                                               
Office: + 27 (0)11 243 2900                     Office: + 27 (0) 11 243 2900                   

   

Phil Dexter                                     John Prior / Paul Gillam / James Black         
                                                                                               
St James's Corporate Services Limited           Numis Securities Limited                       
                                                                                               
Company Secretary                               Nominated Adviser & Joint Broker               
                                                                                               
Office: + 44 (0)20 7796 8644                    Office: +44 (0)20 7260 1000                    

   

Sholto Simpson                                  Matthew Armitt / Ross Allister                 
                                                                                               
One Capital                                     Peel Hunt LLP                                  
                                                                                               
JSE Sponsor                                     Joint Broker                                   
                                                                                               
Office: + 27 (0)11 550 5009                     Office: +44 (0)020 7418 8900                   

   

Julian Gwillim                                  Daniel Thöle                                   
                                                                                               
Aprio Strategic Communications                  Bell Pottinger PR                              
                                                                                               
Public & Investor Relations SA                  Public & Investor Relations UK                 
                                                                                               
Office: +27 (0)11 880 0037                      Office: + 44 (0)20 3772 2500                   

www.panafricanresources.com



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