Full Year 2019 Pan African Resources PLC Earnings Call Transcript
Ladies and gentlemen, apologies for this delay. We are in the process of reconnecting the main venue. Please remain online. Thank you.
(technical difficulty)
Ladies and gentlemen, please note, the main venue has rejoined, and they will be resuming shortly. Thank you.
(technical difficulty)
cannot multiply. 1 Krugerrand will unfortunately remain 1 Krugerrand. A producer like Pan African can bring resources, which in this market are not attributed any significant value in the ground to account as quality, profitable and incremental production ounces. Also, the leverage is greater in buying a quality producer in a gold bull market. A 20% increase in the gold price can result in much larger profits for the producer.
Let's move on and spend a couple of minutes on Slide 6 and 7 on gold mining in South Africa. A statesman said many years ago that South Africa as a country would never be as good or as bad as it could be. Until today, that
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