REG-Pan African Resources Plc: Group Trading Statement for the six months ended 31 December 2025 (current reporting period)

Pan African ResourcesAnnouncement

Wed 07:02

Pan African Resources PLC  (Incorporated and registered in England and Wales under the Companies Act 1985 with registered number 3937466 on 25 February 2000)  Share code on LSE: PAF  Share code on JSE: PAN  ISIN: GB0004300496  ADR ticker code: PAFRY  (“Pan African Resources” or the “Company” or the “Group”)              Pan African Resources Funding Company Limited  Incorporated in the Republic of South Africa with limited liability  Registration number: 2012/021237/06  Alpha code: PARI  

GROUP TRADING STATEMENT FOR THE SIX MONTHS ENDED 31 DECEMBER 2025 (CURRENT
REPORTING PERIOD)

In terms of paragraph 3.4(b) of the Listings Requirements of the JSE Limited,
a listed company is required to publish a trading statement as soon as it is
satisfied that a reasonable degree of certainty exists that the financial
results for the period to be reported on next, will differ by at least 20%
from the financial results for the previous corresponding period.

 

Pan African’s presentation currency is the United States dollar (US$) and
its functional currencies are the South African rand (ZAR) and Australian
Dollar (A$). Movements in the US$/ZAR and the US$/A$ exchange rates affect the
Group’s US$ reported results. The average US$/ZAR and US$/A$ exchange rates,
that prevailed during the current reporting period, are used in translating
the Group’s ZAR and A$ financial performance into US$.

 

During the current reporting period, the average exchange rates were
US$/ZAR:17.37 (2024: US$/ZAR:17.95) and US$/A$:1.52 (2024:US$/A$:1.52). The
closing exchange rates as at 31                     December                
    2025 were US$/ZAR:16.57 (2024: US$/ZAR:18.87) and US$/A$1.50 (2024:
US$/A$:1.61).

 

The period-on-period movement in the average and closing US$/ZAR exchange
rates of 3.2% and 12.2%, respectively, should be considered when comparing
period-on-period results. The weighted average number of outstanding shares as
at 31 December 2025 was 2,027,345,177 shares (2024: 1,929,379,411 shares).

 

Pan African advises shareholders that its earnings per share (EPS) is expected
to be between US                     7.18 cents per share and US 7.43 cents
per share, compared to EPS of US 2.50 cents per share for the six-month period
ended 31 December 2024 (corresponding reporting period) (as restated), an
increase of between 187% and 197%, respectively. Headline earnings per share
(HEPS) for the current reporting period is expected to be between US 7.28
cents per share and US 7.40 cents per share, compared to HEPS of US 1.20 cents
per share for the corresponding reporting period, an increase of between 507%
and 517%, respectively. The previously published EPS for the corresponding
reporting period of US                     2.35 cents per share has been
restated (as disclosed above). The restatement arose from the acquisition of
Tennant Consolidated Mining Group Proprietary Limited initially being
accounted for on a provisional basis. The accounting was finalised by 30 June
2025, and the provisional amounts recognised as at 31 December 2024 have been
restated to reflect the resulting measurement period adjustments.

 

The 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%, as a result of the following:
*            an increase of 61.6% in the average US$ gold price received to
US$3,812/oz (2024: US$2,359); and           
*            an increase in gold produced of 51.5% to 128,296oz (2024:
84,705oz).
 

Group production is expected to increase further during the second half of the
financial year ending 30 June 2026, largely attributable to increased
production from the MTR expansion project and from Tennant Mines, with full
year production guidance of 275,000oz to 292,000oz.

 

The financial information contained in this announcement has neither been
reviewed nor audited by the Company’s auditors. The Group’s results for
the six months ended 31 December 2025 will be released on 18 February 2026.

The information contained in this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the
European Union (Withdrawal) Act 2018. Upon the publication of this
announcement via Regulatory Information Service ('RIS') and SENS, this inside
information is now considered to be in the public domain.

 

Rosebank

11 February 2026

For further information on Pan African, please visit the Company's website at

www.panafricanresources.com

 

 Corporate information                                                                                                                                                                                                                                                                                                               
 Corporate Office   The Firs Building  2nd Floor, Office 204  Corner Cradock and Biermann Avenues  Rosebank, Johannesburg  South Africa  Office: + 27 (0)11 243 2900   info@paf.co.za  Registered Office   107 Cheapside, 2 nd Floor  London, EC2V 6DN  United Kingdom  Office: + 44 (0)20 3869 0706     jane.kirton@corpserv.co.uk  
 Chief Executive Officer     Cobus Loots   Office: + 27 (0)11 243 2900                                                                                                                 Financial Director and debt officer   Marileen Kok  Office: + 27 (0)11 243 2900                                                               
 Head: Investor Relations   Hethen Hira                                                                                                                                                Website:  www.panafricanresources.com                                                                                                         
  Tel: + 27 (0)11 243 2900                                                                                                                                                                                                                                                                                                           
  E-mail:  hhira@paf.co.za                                                                                                                                                                                                                                                                                                           
 Company Secretary   Jane Kirton   St James's Corporate Services Limited   Office: + 44 (0)20 3869 0706                                                                                Joint Broker   Ross Allister/Georgia Langoulant   Peel Hunt LLP   Office: +44 (0)20 7418 8900                                                 
 JSE Sponsor & JSE Debt Sponsor   Ciska Kloppers   Questco Corporate Advisory Proprietary Limited   Office: + 27 (0) 63 482 3802                                                       Joint Broker   Thomas Rider/Nick Macann   BMO Capital Markets Limited   Office: +44 (0)20 7236 1010                                           
                                                                                                                                                                                       Joint Broker   Matthew Armitt/Jennifer Lee   Joh. Berenberg, Gossler & Co KG (Berenberg)   Office: +44 (0)20 3207 7800                        

 



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