Pan African Resources profit slips following South African mine disruptions
Source - SMW
Pan African Resources booked a steep fall in first-half profit labor disruptions at its Barberton mines in South Africa hurt production levels.
Net profit in Sterling terms fell to £3.3m, from £14.0m in the previous corresponding period.
Gold production fell by 6,331oz to 85,282oz, primarily as a result of the operational challenges encountered at Barberton.
The asset, however, was positioned for an improved performance in the second half of the financial year, the company said.
Output guidance for the 2018 financial year was set at 177,000oz-to-181,000oz.
At 9:08am: (LON:PAF) Pan African Resources PLC share price was +0.05p at 9.76p