Victoria Falls Stock Exchange-listed Padenga Holdings Limited (Padenga) is planning a US$17 million investment into its gold mining operations, with a target to improve mineral resource and boost production.
“The mining business has budgeted a total of US$17 million to fund exploration activities with the key objective of increasing both the quantum of and confidence in our mineral resource inventory,” Padenga chairman Thembalami Sibanda said in the group’s financials for the year ended 31 December 2025.
Padenga, which also produces premium crocodile skins, operates gold mines – Eureka and Pickstone-Peerless – through its subsidiary Dallaglio Investments (Dallaglio).
Sibanda said: “Dallaglio has expanded its geology skills and will drill significantly more in 2026.”
“The planned drilling will increase resources and reserves, leading to improved production on owned claims, as well as exploring new prospects,” he said, adding that “at Pickstone drilling will be in areas not previously mined and also in the Peerless ore body.”
“Planning and development for mining below 10 level is under way.”
“At Eureka investigations are under way to mine below the planned open pit which will be mined till 2039,” Sibanda said, further stating that “we continue to investigate and explore other gold mining opportunities for the group to grow.”
He said the group’s “agribusiness division was right-sized in line with the depressed market demand and is now forecast to return to positive returns in the short to medium term.”
Padenga reported a US$57.034 million net profit in the year ended 31 December 2026, up 36 percent from US$42.013 million posted prior year.
The group posted a profit before tax from continuing operations of US$93.882 million during the period under review, a 114 percent jump from US$43.785 million realized in 2024.
Revenue surged 26 percent to US$265.816 million from US$211.364 million.
Profit for the year attributable to equity holders of the parent stood at US$52.853 million, a 115 percent surge from US$24.542 million prior year.
Net assets stood at US$164.972 million, up 32 percent from US$124.757 million, while cash generated from operations was US$110.182 million from US$60 million – representing an 84 percent increase.
Headline earnings per share went up 182 percent to US8.23 cents from US2.92 cents.
The group declared a US2 cents final dividend. – TML