Pan African Resources Share Discussion Threads

[hjs] 09/5/2024 16:02

Very good RNS. Current gold price has not been reflected here! Production is increasing in 2024 and forecast for 2025 is higher as well. share price will not stay at 25 for long.

[stonedyou] 09/5/2024 12:09

Pan African Resources Plc - Revised Production Guidance for the year ending 30 June 2024, Production Guidance for 2025 Financial Year and MTR Project Update


09/05/2024 7:00am
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Pan African Resources (LSE:PAF)
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Thursday 9 May 2024

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Pan African Resources Plc - Revised Production Guidance for the year ending 30 June 2024, Production Guidance for 2025 Financial Year and MTR Project Update
PR Newswire

LONDON, United Kingdom, May 09



Pan African Resources PLC

(Incorporated and registered in England and Wales under the Companies Act 1985 with registered number 3937466 on 25 February 2000)

Share code on AIM: PAF

Share code on JSE: PAN

ISIN: GB0004300496

ADR ticker code: PAFRY

("Pan African" or the "Company" or the "Group")

Pan African Resources Funding Company Limited

Incorporated in the Republic of South Africa with limited liability

Registration number: 2012/021237/06

Alpha code: PARI


Pan African is pleased to provide shareholders and noteholders with an update as follows:

Group production and cost guidance



Production guidance for the year ending 30 June 2024 (current financial year) narrowed to between 186,000oz to 190,000oz (previously 180,000oz to 190,000oz)
In the second half of the financial year, the Group ceased processing of marginal surface sources at Evander Gold Mines (EGM) due to this business, which contributed approximately 2,500oz in the first half of the current financial year, becoming uneconomical
If production from these sources was maintained in the second half of the financial year, Group production for the full financial year would have been in excess of 190,000oz
Group AISC guidance for the current financial year maintained at between $1,325/oz to
$1,350/oz (assumed exchange rate: ZAR/US$:18.50)

Production guidance for the 2025 financial year of 215,000oz to 225,000oz.


MTR Project (The Project)

The Project is on schedule for commissioning and steady state production during December 2024
Capital cost for the Project remains on budget, with no expenditure overruns expected
The Project's financial model, based on its definitive feasibility study (DFS), was updated to include the latest operating cost and production estimates, forecast ZAR/US$ exchange rate and US$ gold price. These updates are as follows:
Exchange rate and gold price revisions:
Exchange rate of ZAR/US$:19.00 (initial DFS model: ZAR/US$:15.50)
Gold price of US$2,200/oz (initial DFS model: US$1,750/oz)
The updated DFS financial model outputs (relative to the initial DFS model) are as follows:
The model Pre-tax NPV increased to US$183 million (initial DFS model: NPV of US$63 million)
The ungeared real IRR increased to 41.7% (initial DFS model: IRR of 20.1%)
Payback on upfront capital investment of ~US$135.1 million reduced to approximately 2 years (initial DFS model: 3.5 years), post commissioning.


An internal pre-feasibility study (PFS) for the Soweto cluster was also completed in March 2024, based on the drill results from the 2L16 and 2L24 tailings storage facility (TSF). The PFS considered numerous options, with the most feasible being:

Development of re-mining, overland piping and pumping infrastructure at the Soweto cluster resource to process the material at the MTR plant
Using this option, the MTR plant's capacity can be expanded to process 1 million tonnes per month of feed material, compared to the current design capacity of 800ktpm, resulting in a life-of-mine (LOM) of 21 years for the combined Mogale and Soweto cluster resources. The resultant tailings can be deposited into the expanded Mogale TSF at the West Wits pit and 1L23-25 footprint.


The outcomes of the PFS are as follows:

Processing of the Soweto Cluster has the potential to expand the MTR operation
The MTR plant infrastructure can be expanded to treat 1 million tonnes per month from year 6 of the MTR operation's LOM
The addition of the 110 million tonne Soweto Cluster Mineral Resource has the potential to increase MTR production to approximately 60koz/year over a 21-year LOM
Total additional capital requirement of US$113 million (approximately US$83 million would be incurred from year 4 to year 6 and US$29 million in year 10 of the MTR's operation)
At US$2,200/oz and an exchange rate of ZAR/US$:19.00, the Pre-tax NPV combined for Mogale and the Soweto Cluster is US$283 million, representing an increase of US$96 million, relative to Mogale's updated standalone financial model
The real ungeared IRR increases to 44.0%, relative to the IRR of 41.7% in the updated Mogale financial model.
The Group will now proceed with the necessary permitting and servitudes required for the re-mining and processing of the Soweto Cluster, with a final investment decision in due course.



Pan African CEO Cobus Loots commented:

"We are pleased that Pan African will achieve the upper end of our full year production guidance, and would have exceeded guidance had we continued with the processing of surface material at Evander in the second half of the financial year.



The robust production results, combined with record Rand gold prices, should see the Group deliver an excellent financial performance for the year.



Our MTR project remains on schedule and on budget, and we look forward to commissioning it later in 2024. We have now demonstrated that the addition of the Soweto Cluster resources further improves the economic attractiveness of this world class project."



Final results for the twelve months ended 30 June 2024



Pan African will announce its final results for the current financial year on 11 September 2024.

The information contained in this update is the responsibility of the Pan African board of directors and has not been reviewed or reported on by the Group's external auditors.

Certain information communicated in this announcement was, prior to its publication, inside information for the purposes of Article 7 of Regulation 596/2014.

Rosebank

9 May 2024

[juuunx2] 09/5/2024 08:43

Must be making a fortune at these prices

[faz] 09/5/2024 07:17

thats a pretty positive update today; production and projects all looking good

[johnbull1] 08/5/2024 10:47

But the top end of guidance (190) includes a five percent drop in the second bit (98 drops to 92), which is weird given Evander should be increasing. Unless they up guidance it suggests some wheel has fallen off? The company would know by now, the silence worries. This company doesnt give information until too late.

[stonedyou] 07/5/2024 18:31

Financial year-end 30 June 2024

[stonedyou] 07/5/2024 18:30

Pan African Resources on track to meet full-year guidance after strong first half.


781 views Feb 14, 2024 #investor #GoldPrice #GoldMining

Pan African Resources PLC CEO Cobus Loots takes Proactive's Stephen Gunnion through the company's interim results to 31 December 2023.

The mining firm experienced a significant uptick in performance, driven by increased production and a favourable gold price environment, particularly in South African rand. The impact of operational enhancements at its Barberton operations and its tailings retreatment portfolio including Elikhulu saw substantial production boosts, positioning the company to meet its full-year guidance of 180,000 to 190,000 ounces of gold.

Loots highlighted the successful management of costs despite inflationary pressures, attributing part of the efficiency to the depreciation of the rand against the dollar, higher gold output reducing unit costs, and prudent cost controls. Notably, the company's investment in renewable energy and water recycling initiatives has started to pay off, with the first solar plant saving approximately $13 per ounce in all-in-sustaining costs (AISC).

Cash generation surged by 130%, enabling further investments in projects like the Mogale Tailings Retreatment project, which is on schedule and budget to enhance Pan African's production for the next two decades.

The Evander mine also reported increased output, thanks to infrastructure upgrades.

Safety improvements were emphasized as a crucial part of the company's operations, especially significant given the proportion of production from tailings and surface operations.
‌

[johnbull1] 07/5/2024 17:48

Is it me or is it too late for guidance to be upped for the year? Surely theyd know a long time ago if the second hald was going to be better than the first and so up it.
Maybe something bad has hapenned? Or the company just doesnt know? Because last year they warned really late so cant have known until late. Or theyre lazy.

[stonedyou] 29/4/2024 14:12

Nebraska Ends Income Taxes on Gold and Silver, Declares CBDCs Are Not Lawful Money.


With Gov. Jim Pillen’s signature, Nebraska has become the 12th state to end capital gains taxes on sales of gold and silver.

Under LB 1317, any “gains” or “losses” on precious metal sales reported on federal income tax returns are backed out, thereby removing them from the calculation of a Nebraska taxpayer’s adjusted gross income (AGI).

Backed by the Sound Money Defense League, Money Metals Exchange, and in-state advocates, the sound money measure passed out of the unicameral legislature’s Revenue Committee unanimously before being amended into a must-pass bill by a vote of 27-5.

Sponsor Sen. Ben Hansen, said upon news of the formal enactment of his legislation, “I was extremely pleased to see LB 1317 signed into law. Gold and silver are the only forms of currency mentioned in our Constitution and with that comes the people's ability to use it as such without penalty from the government. Saving, and using, gold and silver is our right and one of the only checks and balances to our federal government's unending devaluation of our paper currency. ”

Gold and silver ownership serves as a hedge against the devaluation of the dollar due to Federal Reserve policies. Consequently, taxpayers often realize 'gains' when converting the monetary metals back into Federal Reserve notes (i.e. selling) that do not reflect any increase in real value but rather reflect the currency’s ongoing devaluation.

Despite the lack of “real” gains, the Internal Revenue Service imposes capital gains taxes on such transactions. Nebraska has now opted out at the state level, declining to carry the IRS’s position into the definition of Nebraska income.

Jp Cortez, executive director of the Sound Money Defense League, explained during his testimony before the Revenue Committee that the ferocious wave of inflation facing Nebraskans is largely caused by harmful actions of the Federal Reserve.

“The state can take a different course and provide Nebraska citizens cleaner access to gold and silver ownership – and these metals are not only a proven inflation hedge but states all over the country are remonetizing constitutional sound money in the form of gold and silver,” Cortez said.

Eleven other states already do not charge an income tax on sales of precious metals, with Arkansas, Arizona, and Utah recently enacting such laws. Meanwhile, Iowa, Georgia, Oklahoma, Missouri, West Virginia, and Kansas are actively considering similar legislation in 2024.

“Investments in precious metals coins and bullion in Nebraska are now rightly exempt from both sales tax and income tax,” said Stefan Gleason, CEO of Money Metals and Chairman of the Sound Money Defense League.

“Neutralizing Nebraska's income tax treatment of the monetary metals removes significant disincentives in the Cornhusker State against the ownership and use of the monetary metals,” said Gleason.

Meanwhile, LB 1317 revises the state’s formal definition of money by adding language that states: “Money does not include central bank digital currency.”

The new law defines central bank digital currency as “a digital medium of exchange, token, or monetary unit of account issued by the United States Federal Reserve System or any analogous federal agency that is made directly available to the consumer by such federal entities. Central bank digital currency (CBDC) includes a digital medium of exchange, token, or monetary unit of account so issued that is processed or validated directly by such federal entities.”

Sen. Hansen said, “I believe we have to be extra vigilant in our assessment and application of a Central bank digital currency to make sure they do not become a danger to our freedom. For this reason, we defined in LB 1317 that CBDCs are not classified as currency in Nebraska, which should help protect against unwarranted mandates for their use in the future."

Versions of this “anti-CBDC language” have advanced or signed into law in Tennessee, North Carolina, Florida, South Dakota, and Indiana. Congressman Alex Mooney has also introduced a federal measure to block the Federal Reserve’s digital currency scheme.

In his testimony, Cortez discussed the potential risks of adopting a CBDC, including creating a greater ability to track all financial transactions, disallowing certain types of purchases, or even completely “turning off” a targeted individual’s access to money.

Nebraska joins Utah, Wisconsin, Kentucky, South Dakota, and Tennessee as states to have enacted pro-sound money legislation into law so far in 2024.

Currently ranked 22nd in the 2024 Sound Money Index, Nebraska’s ranking is expected to rise.

[stonedyou] 29/4/2024 14:08

GoldSeek Radio's Waltzek, GATA's Murphy see U.S. losing control of gold price


Submitted by admin on Fri, 2024-04-26 20:15 Section: Daily Dispatches
8:15p ET Friday, April 26, 2024

Dear Friend of GATA and Gold:

GoldSeek Radio's Chris Waltzek and GATA Chairman Bill Murphy today discuss indications, like price volatility, that U.S. banks are losing control of monetary metals prices, as well as the possibility of a worldwide financial shock as the U.S. dollar is repudiated.

The interview is 15 minutes long and can be heard at GoldSeek's companion site, SilverSeek, here:



CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
[e-mail]


Join GATA here:

Mining Investment Asia
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Marriott Tang Plaza Hotel, Singapore



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[stonedyou] 22/4/2024 20:53

BRICS GOLD train leaving the station - Destination Revalue Rd. - LFTV Ep 169

Kinesis Money

46,528 views Apr 19, 2024



In this week’s episode of Live from the Vault, Andrew Maguire is joined by TF Metals Report’s Craig Hemke to address the community’s pressing questions on the FED’s suppression struggles, predictions for gold and silver and insight into BRICS.

The precious metals experts explore the significance of physical gold deliverability towards the success of the BRICS currency, which is forcing Western central banks to drastically reevaluate their predictions on the gold price.

Ask your questions for Andy here:

[stonedyou] 19/4/2024 13:20

Gold (XAU) Daily Forecast: Price Peaks at $2417 Amid Mid-East Tensions.

By:
Arslan Ali

Key Points:

Gold XAU/USD surges to $2417 amid military strikes in Iran but later drops.

Fed's decision to maintain interest rates influences gold's non-yielding status.

China's consistent gold reserve accumulation supports higher market prices.


Gold

-0.02%

Market Overview
The Gold XAU/USD price has seen an uptick, rising to new heights $2417 on Friday amid escalating geopolitical tensions, however, gold couldn’t sustain it’s bullish trend and reversed back to trade near $2380. Reports of military engagements in Iran, coupled with Israel’s recent retaliatory strikes, have bolstered gold’s status as a safe-haven asset, driving prices upward as investors seek stability.

The XAU/USD price surge is notably influenced by these ongoing conflicts in the Middle East, which continue to stoke fears of a broader regional conflict.

Impact of Federal Reserve’s Monetary Policy on Gold Prices
Further influencing the XAU/USD forecast is the Federal Reserve’s current stance on interest rates. The consensus among Federal Reserve policymakers is to maintain current borrowing costs into the foreseeable future due to uneven progress on inflation control and a robust U.S. economy.

This decision impacts gold as higher interest rates typically raise the opportunity cost of holding non-yielding assets like gold.

China’s Role in Gold’s Market Dynamics
Adding another layer to the gold price forecast, China’s ongoing accumulation of gold reserves provides a substantial undercurrent supporting the market.

According to Ilya Spivak, head of global macro at Tastylive, this trend is expected to continue, further enhancing the upward trajectory of gold prices in the international markets.

Economic Indicators
Key economic indicators released today also play a critical role in shaping market sentiment:

U.S. Unemployment Claims dropped to 212,000 from the previous 215,000. The Philly Fed Manufacturing Index experienced a significant jump to 15.5, far surpassing expectations.
Meanwhile, Existing Home Sales slightly declined to 4.19 million from 4.20 million, and the Conference Board’s Leading Index adjusted down to -0.3% from -0.1%.
As the International Monetary Fund (IMF) meetings continue today, further developments are expected to influence the global economic landscape and, consequently, the gold market.

Gold currently trades at $2,381, marking a modest increase of 0.10%. It hovers slightly above today’s pivot point at $2,363.79, hinting at a restrained bullish sentiment. Immediate resistance is positioned at $2,403.98, with further ceilings at $2,431.98 and $2,459.86.

On the downside, support lies at $2,323.92, extending to $2,296.85 and $2,268.55, which could come into play should the trend reverse. The technical landscape shows the 50-Day Exponential Moving Average (EMA) at $2,359.342, slightly below the current price, suggesting potential near-term support.

Conversely, the 200-Day EMA at $2,251.548 underscores a longer-term upward trend. Today’s candlestick pattern, characterized by a long shadow and small body—an inverted hammer—signals potential weakness in the ongoing bullish trend.

Conclusion: The outlook for gold remains bullish above the pivot of $2,363.79, with any breach below this level potentially catalyzing a sharp decline in prices.

[stonedyou] 19/4/2024 09:42

Vietnam's central bank to resume gold bar bidding after 11 years
Submitted by admin on Thu, 2024-04-18 11:46 Section: Daily Dispatches

From Vietnam News Agency, Hanoi

Tuesday, April 16, 2024



The State Bank of Vietnam will resume gold bar bidding after 11 years, aiming to increase the supply of gold to the market and promptly and immediately settle the high difference in domestic and international gold prices, thus ensuring the gold market operates in a safe and stable, healthy, open, transparent, and effective manner in accordance with the prime minister's direction.