Pan African Resources Share Discussion Threads

[justiceforthemany] 01/3/2024 16:30

Gold approaching $2,100 today

[justiceforthemany] 26/2/2024 12:42

Tipped in the Investors Chronicle at 17p. Strong buy.

[bc789] 20/2/2024 19:59

https://www.miningmx.com/top-story/55907-pan-african-storms-back-but-investors-stay-on-the-sidelines/ nice rise today

[stonedyou] 20/2/2024 13:03

Gold didn’t last long below $2000 despite higher US yields and dollar

Higher bond yields, stronger US dollar, no major escalation in geopolitical tensions in the Middle East. It’s the kind of backdrop you wouldn’t expect gold to thrive in. But its first probe below $2000 per ounce in 2024 didn’t last long, rebounding strongly to push back into the range it’s been operating in since mid-December.


By : David Scutt, Market Analyst.


The macro environment was not favourable for gold last week, yet it managed to finish not far from where it started.

Dips below $2000 were quickly bought, suggesting the path of least resistance may be higher near-term.

The US dollar rally is looking fatigued and inflation expectations are strengthening. Both would normally act as tailwinds for commodity prices.

Gold has struggled around the 50-day moving average recently, making that the first target for bulls to overcome.

Higher bond yields, stronger US dollar, no major escalation in geopolitical tensions in the Middle East. It’s the kind of backdrop you wouldn’t expect gold to thrive in. But its first probe below $2000 per ounce in 2024 didn’t last long last week, rebounding strongly to push back into the range it’s been operating in since mid-December.

Gold has a strong inverse relationship with DXY right now.

The price action suggests there are plenty of willing buyers out there despite gold sitting at historically elevated levels, pointing to the potential for further gains should the macro environment begin to swing around in bullion’s favour. With the US dollar rally looking shaky amidst growing evidence of continued stickiness in inflationary pressures, you could argue it already is.

Over the past fortnight, the inverse relationship between gold and the US dollar index (DXY) has been particularly strong, exceeding levels seen for shorter and longer-dated bond yields over the same period.

[justiceforthemany] 15/2/2024 15:34

Catalysts - PAF hosting a roadshow next week and broker dialogue.
Edison report due soon.
Upgraded production guidance.

[justiceforthemany] 15/2/2024 14:30

Gold back above $2,000 and rising.

[justiceforthemany] 14/2/2024 11:26

This is a growth stock remember.
With Mintails coming onstream later this year P/E falls to 3.
Yes THREE!

[bc789] 14/2/2024 11:08

Great update. Solid company. Chart strong. Should be trading in 20s

[justiceforthemany] 13/2/2024 10:31

Big news coming tomorrow.
FOMO
Last day to get in low

[stonedyou] 04/2/2024 20:31

Central-bank buying spree driving demand for gold – report.

Net purchases in 2023 almost matched the previous year’s record, the World Gold Council has said.

Total gold demand hit the highest level on record last year of 4,899 tons amid global uncertainty and thanks to continued strong buying by central banks, according to the World Gold Council (WGC).

In its Gold Demand Trends report for the full year 2023, the industry group said that purchases by central banks maintained a “breakneck pace,” reaching 1,037 tons, almost matching the 2022 record.

“Even though it [central bank purchases] is not so strong as it was in 2022, it is substantially higher than prior to 2022 and it exceeded our expectations,” said John Reade, market strategist at the WGC. “It is a very impressive number,” he added.

Purchases by central banks are expected to slow down by around 200 tons in 2024 but remain higher than prior to 2022, according to Reade. The strategist noted, however, that demand for gold among central banks could actually accelerate.

The WGC report highlighted that global gold jewelry consumption was steady in 2023 – at 2,092 tons – due to a 17% post-Covid increase in demand in China and despite high gold prices. Meanwhile, purchases of gold bars and coins declined by 3% as European demand continued to tumble. The report also showed that global gold exchange traded funds (ETFs) saw a third consecutive annual outflow in 2023, shedding 244 tons. According to the WGC, annual mine production last year increased to 3,644 tons, but fell short of the 2018 record.


Gold prices hit a record $2,135.4 per ounce in December and have held above the psychological level of $2,000 so far this year. Experts say the rally will continue as lingering uncertainty about the prospects for the global economy in the wake of recession fears and heightened geopolitical tensions in the Middle East spur safe-haven demand for the metal.

[spooky] 02/2/2024 08:02

A nice earnings update.

[af004] 30/1/2024 14:25

Nice move up

[stonedyou] 22/1/2024 21:31

KEY FEATURES.


· Gold price received of US$1,961/oz (2022: US$1,725/oz), an increase of 13,7%
relative to the six months ended 31 December 2022 (Previous Reporting Period)

· Excellent operational results, with gold production of 98,458oz (2022:
92,307oz), an increase of 6.7% relative to the Previous Reporting Period

· Production costs were well managed despite inflationary pressures, with
Group all-in sustaining costs (AISC) expected to be approximately US$1,300/oz at
an average exchange rate of US$/ZAR18.69, below the FY2024 guidance of
US$1,350/oz (at an assumed exchange rate of US$/ZAR18.50)

· MTR Project construction on time and within budget, with commissioning
expected in the latter half of the 2024 calendar year

· Commissioning of further renewable energy generating capacity is on.


· Operations performed in line, or better than expected, with production
forecast for the Reporting Period, as follows:

· Barberton Mines underground: 36,779oz* (2022: 32,022oz). The
implementation of continuous operations at Barberton Mines contributed to
increases in mined tonnages and grades, when compared to the Previous Reporting
Period

· Evander Mines underground: 21,307oz (2022: 19,173oz). The ramping up of
mining operations at Evander Mines' 24 Level underground operations contributed
to the increased gold production, successfully replacing the depletion of the 8
Shaft pillar ore resources, consistent with the mine plan

· Elikhulu tailings retreatment: 28,106oz (2022: 25,830oz), with operations
benefitting from improved metallurgical recoveries

· Barberton tailings retreatment plant (BTRP): 9,864oz (2022: 10,012oz)*

· Evander Mines' surface sources: 2,401oz (2022: 5,270oz).

* Surface sources from Fairview Mine included in BTRP production.


PRODUCTION GUIDANCE

· Production guidance for the full 2024 year is maintained at between
180,000oz to 190,000oz (FY2023: 175,209oz). However, given the excellent
production performance in the Reporting Period, revised guidance may be
considered in due course. Production for FY2025 is expected to be significantly
higher, following commissioning of the MTR project, which will add approximately
50,000oz/yr to Group production, increasing annual output by some 25%.

FINANCIAL RESULTS

· The Group's AISC for the Reporting Period is expected to be approximately
US$1,300/oz, at an average exchange rate of US$/ZAR18.69
· The AISC reduction resulted from excellent cost control, improved gold
production, as well as the weaker US$/ZAR exchange rate that prevailed during
the Reporting Period

· Group net senior debt increased to US$60.0 million (June 2023: US$18.9
million), primarily as a result of the capital expenditure of US$23.2 million
incurred on the MTR Project and the dividend of US$22.1 million paid to
shareholders in December 2023.

[bc789] 22/1/2024 14:50

Finally some decent share price movement and market reacting to a strong update. 20-25p should be a realistic target in the next 6-12m. 2025 looking good with additional output forecast

[spooky] 22/1/2024 10:24

Slightly surprised there hasn't been a more positive share price response following the update.

[justiceforthemany] 22/1/2024 10:16

Yet the rogue shorters have caused a red share price

[tigerbythetail] 22/1/2024 08:16

Yes, really strong update.

[18bt] 22/1/2024 08:07

Decent update and market should hopefully start pricing in growth in profits and cash flow from 2025.

[justiceforthemany] 22/1/2024 07:14

SUPERB UPDATE!
AISC EVEN BETTER THAN EXPECTED.
EPS FULL YEAR 5p+
P/E 3