Pan African Resources PLC
("Pan African" or "the Company" or "the Group")
(Incorporated and registered in England and Wales under Companies Act 1985 with
registered number 3937466 on 25 February 2000)
Share code on AIM: PAF
Share code on JSE: PAN
ISIN: GB0004300496
UPDATED TRADING STATEMENT FOR THE SIX MONTHS ENDED 31 DECEMBER 2015
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 upon next, will differ by at least 20
percent from those of the previous corresponding period. In the event that
the listed company does not have reasonable certainty to provide guidance in
terms of a specific percentage and number, or a range thereof (with the said
range not exceeding 20%), the listed company may provide only a minimum
percentage and number difference in the anticipated financial results, together
with relevant information available at the time.
Shareholders are referred to the original trading statement and group net debt
announcement dated 26 November 2015.
Pan African is incorporated in England and Wales under the Companies Act 1985
and accordingly its presentation currency is Pounds Sterling ("GBP").
The average ZAR/GBP exchange rates affect the reporting of results in GBP. For
the six month interim reporting period ended 31 December 2015 ("current interim
reporting period"), the average prevailing ZAR/GBP exchange rate is used to
translate earnings per share ("EPS") and headline earnings per share ("HEPS")
from ZAR to GBP. In the current interim reporting period the average ZAR/GBP
exchange rate was ZAR20.83:1 (31 December 2014: ZAR17.87:1). The
period-on-period change in the average exchange rate of 16.6% must be taken
into account for the purposes of translating and comparing period-on-period
results.
Pan African advises shareholders that the Group EPS and HEPS for the current
interim reporting period denominated in GBP are expected to be between:
1. 0.57 pence and 0.63 pence (being 84 percent to 104 percent) higher than the
0.31 pence HEPS for the prior interim reporting period.
2. 0.57 pence and 0.63 pence (being 90 percent to 110 percent) higher than the
0.30 pence EPS for the prior interim reporting period.
EPS and HEPS, calculated in ZAR, are expected to be between:
1. 11.89 cents and 13.02 cents (being 112 percent to 132 percent) higher than
the 5.61 cents HEPS for the prior interim reporting period.
2. 11.87 cents and 12.95 cents (being 119 percent to 139 percent) higher than
the 5.42 cents EPS for the prior interim reporting period.
Production Summary
Operation Unit 2015 2014 %
Barberton Mines (Gold oz) 56,447 52,942 6.6
Evander Mines (Gold oz) 45,350 33,733 34.4
Phoenix Platinum (PGE oz) 4,493 4,711 (4.6)
Total (oz) 106,290 91,386 16.3
The financial information contained in this trading statement has neither been
reviewed nor audited by the Company's auditors. Pan African anticipates that it
will release its unaudited interim results for the period ended
31 December 2015 on or about 23 February 2016.
For further information on Pan African, please visit the Company's website at
http://www.panafricanresources.com/
8 February 2016
Contact Details
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) 207 796 8644
Facsimile: + 44 (0) 207 796 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
St James's Corporate Services Numis Securities Limited
Limited
Company Secretary Nominated Adviser and Joint Broker
Office: + 44 (0)207 796 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/ Richard Crowley/
Aarti Iyer
Aprio Strategic Communications Bell Pottinger
Public & Investor Relations SA Public & Investor Relations UK
Office: + 27 (0)11 880 0037 Office: + 44 (0)203 772 2500
www.panafricanresources.com