EMAS Positions Pani Gold Mine for Further Growth in 2027 Following 69% Q3 Production Increase - TradingView

AI desk brief

EMAS reported Pani gold output rose 69% quarter-on-quarter to 26,331 ounces in Q3 2026, while AISC fell 12% to $1,281/oz. The company revised 2026 production guidance to 85,000–100,000 ounces as timing differences could shift output into early 2027; it expects combined 2026–27 output above 250,000 ounces and 2027 production well above its previous 150,000-ounce estimate, conditional on RKAB approval. CIL Phase 1 construction has begun, targeting commissioning in 2028; a planned second plant could lift combined CIL capacity to 500,000–700,000 ounces annually, subject to successful development and commissioning. These company forecasts establish no material near-term bullion-price effect.