Production Guidance – Pan African revised its production guidance to 175,000oz (previously 195,000oz to 205,000oz) of gold, primarily due to challenges related to electricity supply and slower ramp-up at certain mines. The company estimates a production loss of around 10,000 ounces due to electricity issues. Despite lower gold production, the company benefited from an increased year-to-date rand gold price, partially offsetting the impact. All-in sustaining costs (AISC) for the current financial year are expected to range between US$1,325/oz and US$1,350/oz.
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