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Pan African Resources expands investor base with OTCQX upgrade, reveals full-year highlights

Pan African Resources plc (LON:PAF) (OTCQX:PAFRY) CEO Cobus Loots tells Proactive that the South African-based gold-mining group upgraded to trade its shares on the OTCQX Best Market, because he feels the group has a lot to offer to US investors in terms of its profits, dividends, and growth, looking to trade in a 'deep, and liquid market.'

What's more, Loots says the group has confirmed that 2020 gold production exceeded guidance, and said it is firmly on track to hit its 2021 target of 190,000 ounces. The group's results for the year ended June 30, 2020, confirmed a production tally of 179,457 ounces, marking a 4.1% improvement. It drove a 25.9% rise in revenue to US$273.7M for the year, up from US$217.4M for 2019.

Quick facts: Pan African Resources plc

Price: 24.195 GBX

AIM:PAF
Market: AIM
Market Cap: £466.56 m
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Pan African should be debt-free this year and hopes to increase dividends as...

Pan African Resources plc's (LON:PAF) Cobus Loots tells Proactive its gold production increased by 4.1% in the year ended June 2020. Loots says the strategic focus for the year ahead remains on optimising operations and de-gearing the balance sheet with the intention of increasing dividends in...

on 17/7/20

2 min read