Go-ahead: Deutsche Bank downgrades to hold with a target price of 1,840p.
Precious metals producer Pan African Resources issued updated guidance after kicking off production at its Elikhulu tailings retreatment plant in South Africa, with the firm expecting the ramp up to full production of around 55,000 ounces per year to take no longer than two months.
Pan African Resources updated the market on its progress for the six months ended 31 December on Tuesday - a period which saw the group further implement its strategy to provide a platform of stability at its operations at Barberton Mines and Evander Mines, as well as improved and sustainable cash flows and production for the second half of the year.
The South African based gold mining group, Pan African Resources, reported that one of it's main operators, Barberton Mines Proprietary, had inked a one-year wage agreement with the National Union of Mineworkers, it announced on Wednesday.
London-based precious metals firm Pan African Resources said on Wednesday that it had seen profits fall over the last financial year as a result of an "operationally challenging" year.
Pan African Resources announced its earnings per share would be lower at the half-year stage, in part as a result of the recent strengthening in the South African currency.
Pan African Resources and Sylvania concluded an agreement, the two companies announced on Monday, whereby Pan African will dispose of all its shares and loan accounts in its wholly-owned subsidiary Phoenix Platinum to Sylvania, for total cash consideration of ZAR 89m (£5.18m).
Pan African Resources, forecast higher production even as gold produced for the full-year to 30 June came in below its own guidance.
Gold miner Pan African Resources is to raise up to $123m from a share placing and credit facility in order to fund its Elikhulu Tailings project in South Africa.
Pan African Resources announced on Wednesday that it concluded an agreement with Coal of Africa to dispose of all its shares and loan accounts in its wholly-owned subsidiary PAR Coal - the holding company of Uitkomst - to CoAL for a total consideration of ZAR 275m.
Pan African Resources reported a fatal mining accident at the Evander 7 shaft complex on Monday, confirming it occurred on 15 February 2017.
Pan African Resources announced positive results for the independent Definitive Feasibility Study for its Elikhulu Tailings Project on Monday.
Pan African Resources reported a quality start to the year on Tuesday, with production and earnings rising substantially in the six months to 31 December.
Gold miner Pan African Resources posted a decline in annual revenue and earnings and trimmed its dividend but said it remained confident business will improve in the current financial year.
Pan African Resources shares declined after shareholders learned the 23.86% stake held by Shanduka will be bought by the Mabindu Trust, an investment vehicle of the China Investment Corporation and the Standard Bank of South Africa.
Advanced Medical Solutions: Oriel initiates with a target price of 135p and a buy recommendation.
Gold miner Pan African Resources (PAF) blamed low-grade gold ore and a one-off gain on an acquisition last year for a profit warning.
The FTSE 350 mining sector, which fell nearly four per cent last week on the back of uncertainties surrounding Ukraine and fears of a slowdown in China, recovered strongly on Monday with Glencore Xstrata among the best performers in London.
Canaccord Genuity has highlighted key stocks to buy in the gold mining sector as it lifted its forecasts for the price of the precious metal over the medium term.
Admiral Group: Credit Suisse raises target price from 1340p to 1425p and keeps a neutral rating.