Pan African Resources PLC (PAF) 2011年年度报告「LSE」.pdf

1、GrwPrfitSustnSthlThe African Focused Precious Metals ProducerrSeptember 2011Annual Report20111Pan African Resources PLC Annual Report 2011A Sound Business ModelThe Group has developed a sound business model during the year based on our track record of delivery.Our business philosophy is based on fou

2、r guiding pillars:ProfitabilityProfit describes our commitment to grow the margin between our revenue and all-in cost base.This however,is on the condition that profits can never come at the exploitation of our stakeholders.In short,our stakeholders also need to profit from their association with us

3、.This means no compromise on safety,credibility,honesty and integrity.SustainabilityWe need to take decisions that will benefit our stakeholders on a continued basis over the life of the business.We are not about short term gains at the expense of the long term viability of the business.We need to o

4、ptimise our returns and minimise our risks,be flexible and adapt to a changing world.We are part of the environment in which we do business,and cannot stand divorced from this environment,our responsibilities or our commitments towards it.Stakeholder ValueStakeholders include our shareholders,employ

5、ees and the communities directly surrounding our operations.We also need to abide by and respect the laws of the countries in which we operate.We need to be fair and reasonable when dealing with contractors and suppliers and will not solicit or entertain any form of bribery to enable preferential tr

6、eatment.We will ensure that we have a communication platform in place to facilitate effective communications between all stakeholders and the Group in a constructive manner without prejudice.GrowthThis relates to our continued drive and passion to grow the other pillars of our Company.Our growth how