Pan African Resources posts 63 pct earnings drop

JOHANNESBURG (Reuters) - South African gold mining and exploration company Pan African Resources posted a 63 percent drop in half year headline earnings, citing lower commodity prices. Headline earnings for the six months ending December was 102.6 million rand ($8.97 million), the company said, adding it would pay a dividend of 14 cents per share. Shares dropped nearly 4 percent by 0917 GMT. ($1 = 11.4350 rand)