Pan African Resources Share Discussion Threads

[stonedyou] 15/4/2019 09:55

Take over bid???

[juuunx2] 15/4/2019 09:47

Yes nice rise this morning wonder what's going on?

[orchestralis] 15/4/2019 09:46

900000 at 11p

[astjgroom] 10/4/2019 08:44

Nice we've popped up 1.6% on only 3 shares traded!

[spaceavenger] 23/3/2019 12:56

Agreed. What are the others?

[juuunx2] 06/3/2019 15:30

Me too just back in

[orchestralis] 25/2/2019 11:13

Pan African Resources plc(LON:PAF) has reported an increase in profit of over 100% as it reflected on a "robust" performance in its first half.The gold miner reported that after-tax profit for the six months ended 31 December 2018 had risen 127% to £7.5mln, while in South African rand the figure was up 137% at R137.8mln.WATCH: Pan African Resources reports sharp increase in gold production in firsthalfRevenues from continuing operations in the period had also surged 47% to £75.3mln, or up 52.8% to R1.38bn, thanks to an increase in gold ounces from underground operations at the company's Barberton Mine.Earnings per share, meanwhile, were up 116.7% at 0.39p per share.Gold production surgesIn the six months, gold production from operations rose 54.2% to 81,014 ounces (oz), with the company's Barberton complex increasing "significantly" by 24.5% to 50,556oz."The group is now positioned as a low cost and long-life gold producer, in line with our stated strategy and our shareholders' expectations" said chief executive Cobus Loots, adding that the firm's combined underground and tailing operations were "some of the lowest-cost gold producers in South Africa and also internationally competitive, from an all-in sustaining cost perspective".During the first half, the all-in sustaining cost per kilogram dropped 18.5% in rand terms to R444,946/kg, while in dollar terms the cost per ounce fell 23.1% to US$975/oz.Due to financing the construction of its flagship Elikhulu tailings retreatment facility at the Evander mines, net debt in the period rose to £102.7mln from £39.2mln a year ago.170,000oz target for full year "on track"In its outlook for the rest of the year, Pan African said it was on track to achieve its gold production guidance of about 170,000oz, while also strengthening its financial position by reducing net debt to allow for "improved funding flexibility and increased capacity".Loots added that the firm had "an attractive pipeline of near- to medium-term growth projects" including the potential to access "low-cost, near-surface ounces" at its Royal Sheba project, where a definitive feasibility study is ongoing.House broker expects more "significant cost savings" as net debt comes in below estimatesIn a note to clients, analysts at Pan African's house broker Peel Huntsaid the company's net debt had come in lower than their own estimates of £107mln and that there were "further significant cost savings to come at the Barberton operation as management looks to streamline the logistics of moving men and ore to and from the working faces to the surface".The broker added that it was "not surprised" that revenues had been in line with its estimates of £75mln, as the company had already reported gold production of 81,014oz in January."Overall operating costs were slightly higher than we expected (EBITDA was £18.7mln vs our £21.1mln estimate) but lower interest costs and effective tax rate meant our EPS of 0.39p was in line

[orchestralis] 25/2/2019 11:10

Pan African Resources (LON:PAF)'s stock had its "buy" rating reiterated by research analysts at Peel Hunt in a research report issued to clients and investors on Wednesday. They currently have a GBX 15.50 ($0.20) price target on the stock. Peel Hunt's price target suggests a potential upside of 47.62% from the company's current price.Separately, Numis Securities reiterated a "buy" rating and set a GBX 16 ($0.21) price target on shares of Pan African Resources in a research note on Friday, February 1st.

[chipperfrd] 20/2/2019 10:31

Looks like they have turned the corner after the increased capex required for their tailings reprocessing and the closing of their large-scale (costly) mining at Evander.

To simplify comparisons with peer producers I use 5 financial metrics, PER (price/earnings), PBV (price/book), PSR (price/sales), PCF (price/cashflow) and Ev/EBITDA.

Out of my comparison table of 67 producers they were previously at 47th (from final results 30/6/18) in terms of valuation with lowest being best value. After these interim results they have moved up to 32nd. Comparison figures shown below:-


PER PBV PSR PCF Ev/EBITDA30/06/18 17.0 1.68 1.79 -11.2 13.5831/12/18 10.7 1.31 1.09 4.82 6.85




Clearly the gold price will help with the 2H numbers and they appear to have their debt under control. So I would expect further improvements and a raised share price target for their full year.
Chip

[parsons4] 20/2/2019 08:56

I have just bought in for the first time in 2 to 3 years. I am very excited about the possibilities of Gold. This one seems to be on track now, if GOLD continues up AND THE COMPANY ACHIEVES ITS FORECASTS the gearing here is fantastic. Just one of 4 holdings in gold stocks. GLA

[astjgroom] 20/2/2019 08:43

*gold price wasn't astounding

[astjgroom] 20/2/2019 08:42

Hmmm, costs are up a little, I've read twice n can't see the word dividend anywhere, next years forecast isn't a hugely ambitious at 170k Oz, debt won't be tackled for a while but doesn't seem particularly high, given probability, average gold price was $1222, (now $1343) I can't see a zar fx rate, (there is some off take agreement as well) aisc are lower, I expect will get lower in 12 months. I'd say it's still quite early in the transformation and good price wasn't astounding,

[2vdm] 20/2/2019 08:07

Any gold/miners out there who can comment on results which look reasonable to the uninitiated please?

[astjgroom] 19/2/2019 15:28

Gold now $1337 at 14.16 rand per dollar, PAF lower. Let's hope tomorrow's results show some light in the horizon

[stonedyou] 19/2/2019 13:35

In past PAF has given a special dividend......How far up the gold price would

they consider giving a special dividend....?

[astjgroom] 15/2/2019 11:23

With gold at $1318 and rand vs $ 14.07 we are in a sweet zone. Last year PAF said they needed rand at 12.50 minimum.

[jbarcroftr] 13/2/2019 11:54

Hopefully resume dividends come November

[davidlloyd] 13/2/2019 11:31

Yes- thought there would be a bit more interest here.
Still- share price maintaining a good looking trajectory 😀
DL

[astjgroom] 13/2/2019 07:46

Rns, looks good news I think, EPS doubled

[orchestralis] 08/2/2019 14:06

Quiet here. I'm nearing break even.

[johnsonneil1] 01/2/2019 08:14

Bull flag formation, over the past six days?

[astjgroom] 29/1/2019 13:04

Same, 10.84 will see me BE. Encouraged by strong dollar, weak rand n sterling, plus note re 'marked' improvement in aisc. Gold now $1310.

[chipperfrd] 29/1/2019 12:54

Well done. I did the same but still have a little way to go for breakeven.

[orchestralis] 29/1/2019 09:00

Seems to be gaining a little momentum. I'm glad I averaged down on last year. Nearly back to breakeven now.

[parsons4] 28/1/2019 07:01

There is no mention of cost per oz as far as I can see. Otherwise it looks very positive. I want to invest here because this one looks cheap, but I am not convinced yet !!!!