Pan African Resources Share Discussion Threads

[justiceforthemany] 30/11/2023 16:36

Back to the usual shenanigans here then.
UT closed 0.6p below the equivalent price on JSE.

[cinoib] 30/11/2023 10:04

Johnbull1, cheers so have plenty time for it to recover then as looking at gold futures and they are calling $2,064, so better times to come.

[juuunx2] 30/11/2023 09:20

Good buying opportunity ?

[johnbull1] 30/11/2023 08:53

Ex dividend as of today, so that merits a 0.75p drop. We've fallen a bit more than that so probably some extra selling because the chart now looks worse.

[cinoib] 30/11/2023 08:44

Anyone know what happened today as was down 1.5 at open yet no news out. Gold steady.

[stonedyou] 29/11/2023 20:49

Gold miner takeover wave to engulf mid-sized producers - broker.

Caledonia and Shanta stand out among African producers, says Liberum.


Expect more mergers and acquisitions among the listed gold miners, says broker Liberum, with attention now likely turn towards mid-sized producers such as Caledonia and Shanta Gold.

A rash of takeovers has broken out among the giants such as Newmont/Newcrest, Yamana/ Agnico but the spotlight is now likely to move down the chain reckons the broker.

Caledonia and Shanta look to be potential targets says Liberum, Centamin could look to merge with a Tier II/III peer though the broker does not see FTSE 100 Endeavour as a buyer currently.

Endeavour (2,186p) walked away from an approach to Centamin in 2020 and Liberum does not believe another offer will be forthcoming, even though it says it is asked the question a lot.

Centamin (112.1p) generally is not in favour with Liberum (sell) and it sees the Eqypt-focused gold miner moving on something in Africa, Arabian Gulf or Scandinavia to keep its momentum moving forward.

Shanta (12.4p) recently received three approaches including two from China and Liberum sees the Chinese as possibly reigniting their interest.

Caledonia (1,350p), meanwhile, has exploration potential in Zimbabwe at Bilboes and Motapa, which is not reflected in a current rating of 64% of the average for Africa-cased gold miners.

[justiceforthemany] 29/11/2023 16:34

$2040 gold price
190,000 production
AISC $1350 but may be less
1.916 shares in issue

EPS 5.5p
P/E 3

Add Mintails and you get EPS near 7p, P/E just 2.5

[stonedyou] 29/11/2023 10:48

Economist Steve Hanke: US Dollar Weaponization Has Powered Record Central Bank Gold Purchases.

Hanke believes that the recent rise in U.S. sanctions, the weaponization of the U.S. dollar, and a climate of uncertainty have caused central banks to purchase gold at record levels.


He explained:

As a result, central banks that had not been players in the gold market have now risen as significant buyers, more so those that are in what Hanke calls “de-dollarization mode” and want to reduce their exposure to the U.S. dollar due to the increasing enactment of sanctions.


You never exactly know what these central banks are going to do, but the trend right now is a lot of central bank buying, and the reason behind this is that there is a lot of uncertainty, everything has become more politicized in the realm of fiat money.


Bullish Stance

Hanke emphasized that since the 9-11 events, the utilization of sanctions has been steadily increasing, but that in the Biden administration, they are “on steroids.” Hanke called this trend “utter stupidity,” causing countries like China and Poland to increase their gold purchases.

[stonedyou] 29/11/2023 09:13

Nasdaq 100, Gold Price Forecast: Has the Fed Greenlighted a Santa Claus Rally?

Nov 29, 2023 1:30 AM +00:00

Diego Colman,

Contributing Strategist.


GOLD PRICE, NASDAQ 100 OUTLOOK

The Nasdaq 100 and gold prices have rallied in tandem this month, an unusual occurrence given their tendency to move in opposite directions.

Current market dynamics are becoming more positive for risk assets and precious metals alike.

This article looks at the technical outlook for gold and the Nasdaq 100, examining the key price levels worth keeping an eye on in the coming days.

The Nasdaq 100 and gold will typically move in opposite direction given their inherent nature and characteristics: the tech equity index is perceived as a risk-on investment, while the precious metal is regarded as a defensive play. At times, however, both bullion and stocks will show a positive correlation if underlying market conditions temporarily align in their favor. This appears to be the current situation.

For context, the Nasdaq 100 and gold prices have risen sharply in November, with the former surging nearly 11% and the latter rising around 3.80% since the beginning of the month. Their rally has been underpinned by falling U.S. Treasury yields and a dovish repricing of interest rate expectations, on the assumption that the Fed has finished its tightening campaign and will move into an easing cycle in 2024.

While policymakers have attempted to keep the door open to additional hikes and pushed back against rate cut bets earlier this year, recent communication has taken a turn toward a slightly more dovish tone. Today for example, Fed Governor Christopher Waller, typically a hawkish voice, stated that he is "increasingly confident" that monetary policy is in the right place and that, if inflation continues to slow, rate cuts could be considered.

The softer rhetoric may be a sign that the central bank is slowly preparing for a change in strategy, which could come in early 2024.

We'll have more clues about the monetary policy outlook in the coming weeks when the FOMC holds its December meeting, so for now it's important to keep a close eye on Fedspeak, especially Chairman Powell's speech on Friday. Anything resembling a pivot would likely put further pressure on bond yields, giving the Nasdaq 100 and gold room to rally further heading into the end of the year.

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[cinoib] 28/11/2023 16:36

Very nice rise today and I just bought back in yesterday, for once I got the timing right and gold on a runner as well, not before time.

[justiceforthemany] 28/11/2023 15:38

$2,025 Gold price

[af004] 28/11/2023 08:14

Quietly coming good...

[stonedyou] 27/11/2023 15:53

Will gold prices increase in 2024? Here's what the experts think.


Gold investing has garnered a lot of attention in the last year or so. Gold prices soared, hitting their highest point in over a year, and discount retailer Costco even started selling gold bars online.

It's no wonder either: Gold has long been known as a smart hedge against inflation — and with inflation well above the Federal Reserve's 2% goal, many consumers have sought out its protection. Gold is also a portfolio diversifier and, generally speaking, a good store of value in the long run.

Despite all this, though, gold prices do fluctuate in the short term. In September, for example, the average price dipped below $1,850 per ounce. By the end of November, prices jumped over $2,000. Will prices top that in 2024? Here's what experts have to say.


So, where are gold prices headed next year? Here's where the experts think gold prices will land in 2024.

The economy will call for some safe bets

One of the big reasons gold has become popular lately — and pricier — is stubborn inflation. And while the Fed has hiked interest rates many times to help quell it, the central bank is still far from its 2% goal. And according to a forecast from WisdomTree Investments, it will stay that way for a while.

WisdomTree's forecast currently projects a 3.1% inflation rate at the start of 2024 and a 2.60% rate by the third quarter. This persistently high inflation could push up demand for gold and, subsequently, gold prices.

"When inflation rates rise, gold prices often increase as well," says Liam Hunt, a financial writer and analyst for Gold IRA Guide. "If current trends of economic uncertainty and inflationary pressures continue, there could be upward pressure on gold prices. In 1980, gold prices reached a then-record $800 per ounce following years of generationally-high inflation over the preceding decade."

Forecasts aren't always right, though. And while WisdomTree currently predicts gold prices to hit a new all-time high next year, if economic conditions worsen, demand for gold could rise considerably, sending prices up even more.

As Nitesh Shah, head of commodities and macroeconomic research at WisdomTree, explains, "In other scenarios of the world where economic conditions deteriorate faster and there is greater demand for defensive assets, we could see gold prices rising even further."

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Geopolitical tensions and the election could drive up demand for gold
Inflation is an important factor to watch next year if you're tracking gold prices. Geopolitics are another.

"Periodically, geopolitical risks, and a flight to safety drive up the demand for gold," Shah says. "Recently, the Israel-Hamas conflict has driven up the geopolitical premium in gold."

He's right: After the conflict between Israel and Gaza began in early October, gold prices soared, reaching points not seen since mid-2022.

"Fears that an uncontained, regional war could disrupt global markets and supply chains triggered capital flight into gold and away from speculative assets such as high-risk stocks," Hunt says. "Gold is often seen as a safe-haven asset. In times of economic uncertainty or market volatility, investors tend to turn to gold, putting upward price pressure on the yellow metal."

Another time investors might flock to a safe-haven investment like gold? That'd be during a presidential election, when some might view a change in leadership as a risk to their finances.

"Given the U.S. presidential election in 2024, we expect retail demand for gold to remain high as investors turn to the metal to hedge against what they feel is a risk of an adverse outcome," Shah says.

Gold prices will increase
Given economic conditions and political tensions, most experts agree that gold prices are going to rise in 2024, as more and more consumers seek out a safe spot to store their wealth.

"Gold is the best hedge there is and every portfolio," says Collin Plume, founder of Noble Gold Investments. "We have an average of an economic downturn every 5.5 years. Each time a downturn happens, you need that one asset that will keep you buoyant while you wait for the rest of your portfolio to recover."

According to WisdomTree's forecast, gold prices will climb throughout 2024, eventually reaching $2,090 per ounce by the third quarter. In its "bull" forecast, the firm projects prices could get as high as $2,300 per ounce.

[stonedyou] 27/11/2023 15:36

GoSats introduces gold and Bitcoin rewards to transform spending into investing.


INDIA - In a significant move aimed at reshaping consumer spending habits, GoSats, a rewards platform, has launched a new feature that allows users to earn rewards in the form of Gold or Bitcoin when they make everyday purchases. This innovative option is designed to turn regular expenses into investment opportunities, thereby providing a dual benefit to its users.

Mohammed Roshan, the spokesperson for GoSats, expressed enthusiasm about the new feature, emphasizing its potential to disrupt traditional reward systems. By offering rewards in the form of tangible assets, GoSats is appealing to a broad range of investors in India, which includes over 200 million gold investors and a growing crypto community of approximately 15 million individuals. This development comes at a time when the Indian market is witnessing a surge in interest in cryptocurrencies, despite previous hesitations due to perceived risks.

The strategic initiative by GoSats not only taps into the Indian market's affinity for gold and emerging interest in digital currencies but also aligns with the global trend of integrating investment opportunities with daily financial activities. The company is actively looking to expand its portfolio by adding more asset classes in the future, with the goal of strengthening the financial stability of its customers. This approach positions GoSats at the forefront of a movement that sees spending as a potential avenue for asset growth and financial security.

[stonedyou] 27/11/2023 08:56

What happens to Gold when bonds are no longer a safe haven?

U.S. Treasury debt has long been considered a “risk free” asset. Gold bugs hold a different definition of risk free, but for most of Wall Street and the investing public the assumption has been that there’s zero chance the U.S. government will ever default on its debt.

The truth is finally dawning on this crowd. There is more than one way for the U.S. to default.

The government might not welch on payments, though the chances of that certainly aren’t zero. It can surreptitiously default through inflation. What’s more, the risk of that type of default is 100% – it is happening now and figures to get worse.

Investors traditionally turn to bonds when there is economic uncertainty. Most retirees have been coached to overweight bonds to reduce volatility and risk in their portfolios. The past couple years have delivered a wakeup call.

2022 was the worst year ever in the Treasury market. The 10-year yield jumped a full 2%. This year the carnage could be even worse as the bond bear market intensifies.

Banks and other financial institutions look at Treasuries as the ultimate collateral and as a Tier 1 reserve asset. But they, too, are getting a jolt of reality.

Small and mid-tier banks have been decimated by losses on the bonds held on their balance sheets.

The Federal Reserve implemented a backdoor bailout of those banks earlier this year.

Fed officials created their “Bank Term Funding Program” to allow member banks to borrow against underwater bonds at 100 cents on the dollar rather than book losses on their actual market value. It’s an alternative to the fire sale of those deeply underwater assets to raise liquidity.

The loans have a 1-year term and the program was intended as a short-term measure.

The Fed seems likely to renew the program indefinitely, or else the reckoning for banks will be biblical. Regardless of what happens, institutions have learned a lesson.

The question is what happens when banks and investors decide that Treasury debt is anything but “risk free.” The list of “go to” safe haven assets is small. If bonds no longer fit the bill and U.S. dollars are losing appeal for similar reasons, gold may be the last refuge.

[stonedyou] 27/11/2023 08:41

GOLD / USD
$ 2013.14$ 2013.31 11.020. UP 55%

GOLD / GBP
£ 1595.58£ 1595.76 7.430. UP 47%

GOLD / EUR
€ 1838.86€ 1839.05 9.690. UP 53%

[johnbull1] 25/11/2023 18:06

I went to the AGM. There was the chairman there and another board member. Other than the vots, which was standard, there were some interesting questions. Someone at the front asked why less gold would be down in the second half and the chairman suggested no reason for that to happen. If they did 94-98 in the first half, this seems that output will be 190 or more? The chairman said that Elikulu was trying more cyanide and seeing more recoveries. The man at the front asked about buybacks, after theyve spent money on Mogali, becase the stock is cheap. The chairman seemd to agree, but others in the audience expressed other views. All in all, it was a positive AGM.

[stonedyou] 24/11/2023 09:02

Jewellery Shines As Global Luxury Market Hits €1.5 Trillion Record In 2023.

The global luxury market is on track to hit a record-breaking €1.5 trillion in 2023, marking an 8-10% growth from 2022, according to a recent report by Bain & Company in collaboration with Altagamma, the Italian luxury goods manufacturers’ association. The study highlights the resilience of the luxury sector, attributing the growth to a resurgence in social interactions and travel, driving spending on luxury experiences to historic highs.

The report delves into regional perspectives, revealing a rebound in European tourism, a deceleration in American spending, and a flourishing Asian luxury ecosystem fuelled by Chinese consumers.

Amid these dynamics, the study places a spotlight on the growth of the jewellery category, which is poised to reach €30 billion in market value in 2023. Fuelled by an investment mindset, fine jewellery emerges as a bright spot for investments amidst market uncertainty. The overall positive growth trend extends to other luxury categories, including ready-to-wear, beauty, watches, and leather goods. The monobrand channel leads the distribution ecosystem, capitalizing on consumers’ quest for physical experiences and the increasing role of clienteling in sales.

As brands navigate the multigenerational complexity, catering to diverse consumer needs becomes crucial. The report highlights the income growth potential in Generation X and Y, who represent the bulk of luxury purchases, while also noting the influence of Generation Z, expected to account for 25-30% of luxury market purchases by 2030.

Looking ahead to 2030, the report anticipates continued market growth, with Chinese customers expected to represent 35-40% of the personal luxury goods market. Online and monobrand channels are projected to dominate two-thirds of the entire market by 2030, emphasising the importance for brands to focus on differentiation and meaningful experiences across the entire customer journey.

In this evolving landscape, sustainability and technology adoption will play pivotal roles in the luxury market’s future, driving a new season of mergers and acquisitions. Brands must maintain a purposeful approach, prioritizing creativity and innovation to stay relevant in an increasingly crowded market and ensuring adaptability as a guiding principle to overcome short-term challenges.

Despite facing challenging macroeconomic conditions, the market exhibited robust growth of 11-13% at constant exchange rates, equivalent to a substantial ~€160 billion increase in spending across various luxury categories. The personal luxury goods segment, a key player, is expected to reach €362 billion by the end of the year, showing a 4% increase from 2022 at current exchange rates.

While the luxury market has demonstrated exceptional resilience, challenges loom on the horizon in the fourth quarter, including fragile consumer confidence, macroeconomic tensions in China, and limited signs of recovery in the US. The research indicates a potential softening of personal luxury goods performance in 2024, with projected low-to-mid single-digit growth compared to 2023.

The lead author of the study Claudia D’Arpizio, a partner at Bain & Company and leader of the firm’s global Luxury Goods and Fashion practice, said, “This is a defining moment for brands, and the winners will separate themselves through resilience, relevance, and renewal—the basics of the new value-centred luxury equation. The luxury market is generating positive growth for 65-70% of brands in 2023, compared to 95% in 2022. To stay in the game, it will be crucial for brands to take bold decisions on behalf of their customers.”

Federica Levato, partner at Bain & Company and leader of the firm’s EMEA Luxury Goods and Fashion practice, “The market is set for long-term growth, rooted on strong fundamentals. Capturing and amplifying the market potential will be key, as the clear convergence among luxury markets allows for further expansion. Players have the opportunity, but also the responsibility, to reinforce their meaning, while leveraging strategic M&A to redefine the boundaries of the industry. These will be foundational drivers for growth in the future.”

[stonedyou] 24/11/2023 07:46

2. SALIENT DIVID DATES

Shareholders are referred to the Group's provisional summarised audited results
that were released on 13 September 2023, wherein an exchange rate of South
African Rand (ZAR) to the British Pound (GBP) of GBP/ZAR:23.93 and an exchange
rate of ZAR to the US Dollar (USD) of USD/ZAR:18.83 was used for illustrative
purposes to convert the proposed ZAR dividend of 18.00000 ZA cents per share
into GBP and USD, respectively.

Shareholders are advised that, following the approval of the final dividend at
the AGM, the exchange rate for conversion of the final ZAR dividend into GBP has
been fixed at an exchange rate of GBP/ZAR: 23.61 which translates to a final GBP
dividend of 0.76239 pence per share and the exchange rate for conversion of the
final ZAR dividend into USD for illustrative purposes is USD/ZAR: 18.85, which
translates to an illustrative final USD dividend of US 0.95491 cents per share.

The following salient dates apply:

+------------------------------+---------------------------+
|Currency conversion date |Thursday, 23 November 2023 |
+------------------------------+---------------------------+
|Last date to trade on the JSE |Tuesday, 28 November 2023 |
+------------------------------+---------------------------+
|Last date to trade on the LSE |Wednesday, 29 November 2023|
+------------------------------+---------------------------+
|Ex-dividend date on the JSE |Wednesday, 29 November 2023|
+------------------------------+---------------------------+
|Ex-dividend date on the LSE |Thursday, 30 November 2023 |
+------------------------------+---------------------------+
|Record date on the JSE and LSE|Friday, 1 December 2023 |
+------------------------------+---------------------------+
|Payment date |Tuesday, 12 December 2023 |
+------------------------------+---------------------------+