Pan African to list on LSE while reporting record-breaking results
Pan African Resources is considering moving its listing to the London Stock Exchange whilst posting superlative results for the financial year ended 30 June 2025.
It believes that move to the LSE holds “longer term benefits (that) may include an enhanced corporate profile, broader access to a wider pool of UK and global investors.”
The group’s profit for the year increased by 78.4% to a record US$140.6 million (FY24: US$78.8 million). This meant it was able to declare a record final dividend of ZA 37.00000 cents per share (or US 2.08451 cents per share at an indicative exchange rate of US$/ZAR:17.75), an increase of 68% (FY24: ZA 22 cents per share).
Revenue increased by 44.5% to US$540.0 million (FY24: US$373.8 million). Net debt increased to US$150.5 million (FY24: US$106.4 million) but decreased significantly from US$228.5 million at 31 December 2024.
“Over the past years, we have also seen a significant increase in the unit cost of gold mining. Despite the recent excellent commodity price performance, the allocation of global capital to the sector is still fairly insignificant, and a further compromise to the already fragile world order could result in even more demand for both the physical metal and gold equities.
“Currently, there is considerable debate as to whether the recent move in the gold price is cyclical or structural. Regardless, Pan African and our shareholders are well-positioned to benefit from the extremely attractive gold price in FY26,” says Cobus Loots, Pan African’s CEO.
Regrettably, the group suffered two fatal accidents during the year and one shortly after financial year-end.
