StockMarketWire.com - Mining group Pan African Resources said it expected to post a rise in annual profit, thanks to a rally in the gold price.

Earnings per share for the year through June was seen rising by between 12% and 22% to 2.2c-to-2.4c per share, up from 1.97c on-year.

Headline EPS was expected to jump to between 2.23c and 2.35c, up from 1.19c.

Pan African Resources said the improved performance was driven by a 24% rise in the average gold price it achieved to $1,574 an ounce, and a 1.3% increase in sales volumes to 173,864 ounces.




At 9:26am: [LON:PAF] Pan African Resources PLC share price was +0.2p at 24.7p



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