Pan African Resources PLC (PAFRF) Q3 2023 Earnings Call Transcript

Pan African Resources PLC (OTCQX:PAFRF) Q3 2023 Earnings Call September 13, 2023 5:00 AM ET

Company Participants

Hethen Hira – Investor Relations

Cobus Loots – Chief Executive Officer

Deon Louw – Financial Director

Conference Call Participants

Raj Ray – BMO Capital Markets

Richard Hatch – Berenberg

Cobus Loots

Good morning to all of you and a warm welcome to our 2023 financial year end results presentation. Thank you very much for taking time out of your schedules to join us today.

Now we always knew that the last year would not be easy having produced some record results in 2022. In addition to the constraints faced at our Barberton underground, grades normalized at our Evander 8 Shaft operation, also impacting production. We further had to contend with electricity supply issues and some quite severe cost inflation. Specifically on imports such as reagents and Eskom tariffs with war breaking out in the Sudan we had to evacuate our expect staff and safeguard our assets.

It would be fair to say that all of these challenges and, of course, also the fatal accident we suffered at Evander in March of this year has kept our management team very busy and engaged.

Pan African strategy is to position ourselves as a safe and sustainable high margin long life gold producer. 2023 presented some difficulties, but it also again demonstrated Pan African’s resilience our ability to adapt, reconfigure our business to move forward on a strong footing and grow in a responsible and value accretive manner.

I’m very excited about the year ahead and look forward to sharing some thoughts on our prospects in the following slides. We will keep the presentation fairly brief with an opportunity for questions afterwards.

Joining me and presenting today will be Deon Louw, our Financial Director. You are welcome to

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