**Pan African Resources PLC Operational Update for H1FY26 and Proposed Interim Dividend**
**Summary**
Pan African Resources PLC announced a strong operational performance for the half-year ended December 2025 (H1FY26), highlighted by a **51% increase in gold production** to 128,296 ounces, driven by improved performance across key operations. The company is on track to meet its full-year production guidance of 275,000–292,000 ounces, with further production increases expected in H2FY26.
**Key Highlights**
1. **Production Growth**
Evander operations saw an **87% increase** to 21,640 ounces, supported by high-grade mining and improved hoisting capacity.
Elikhulu production rose by **14%** to 29,450 ounces.
Tennant Mines achieved steady-state throughput, with H2FY26 production expected to double to 30,000 ounces due to higher-grade ore.
2. **Financial Performance**
**Net debt reduced by over 65%** to US$49.9 million, with full de-gearing expected by February 2026.
All-in sustaining costs (AISC) for H1FY26 were higher than guided (US$1,825–1,875/oz) due to currency fluctuations, share-based payment expenses, and higher royalty payments.
3. **Proposed Interim Dividend**
A **ZA12 cents per share** interim dividend is proposed, subject to Board approval with H1FY26 results on 18 February 2026.
4. **Future Growth Initiatives**
The **Soweto Cluster Tailings Retreatment Project** is progressing, with a Definitive Feasibility Study expected by June 2026. The project is anticipated to add 30–35,000 ounces annually for 15 years, boosting MTR complex production to 100,000 ounces per annum.
Expansion of solar generation capacity at Evander Mines to 30MW and new water treatment plants at Evander and MTR underscore ESG commitments.
5. **Safety and ESG**
Significant improvement in safety metrics, with **TRIFR** and **LTIFR** declining to 4.74 and 1.22, respectively.
MTR operation won the ‘Best ESG Initiative by a Mining Company’ award for its positive environmental and community impact.
**CEO Commentary**
Cobus Loots highlighted the company’s strong safety, operational, and financial performance, driven by high gold prices and strategic focus on tailings retreatment. He emphasized the proposed interim dividend and future growth opportunities, positioning Pan African for sustained success.
**Next Steps**
Interim results and further details on initiatives will be released on **18 February 2026**.
**Contact Information**
Corporate offices in Johannesburg and London, with key executives and advisors listed for investor and media inquiries.