Edison increases its valuation of Pan African despite lower production forecast

Analyst Edison Investment Research has increased its valuation of South African gold miner Pan African Resources to $0.48 a share, from $0.41 previously. London- and Johannesburg-listed Pan African earlier this month announced that it had revised its 2024 full-year production guidance to between 186 000 oz and 190 000 oz, compared with previous guidance of 180 000 oz to 190 000 oz, owing to it having ceased the processing of marginal surface sources at Evander Gold Mines.