Mining firm Pan African Resources saw strong results for the full year to 30 June. Revenues for gold sales rose 15.62% from £68.5 to £9.2m after a rise in the price of the precious metal, while pre-tax profits increased from £14.4m to £17m. Earnings per share grew from 1.04p to 1.20p. Only the group's cash balance took a dip to £10.1m, down from £12.8m the previous year. The company said: "The group re-focused its new business team during the year under review to focus on the development on the Bramber tailings project in South Africa as a "stand alone" business. This strategy has paid off with the team busy evaluating a further 9Mt of tailings material to the current resource of 3.1Mt. "The team will remain focused on completing a definitive feasibility study by Q2 of the 2012 financial year in order to bring the project to account and capitilise on current high gold prices." The group's shareholders were less than impressed with the results, which saw the share price fall 6.90% to 13.50p by the close on Monday. NR