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PAF Pan African Resources Plc

20.70
-1.15 (-5.26%)
18 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Stock Type
Pan African Resources Plc PAF London Ordinary Share
  Price Change Price Change % Share Price Last Trade
-1.15 -5.26% 20.70 16:29:49
Open Price Low Price High Price Close Price Previous Close
22.00 20.65 22.00 20.70 21.85
more quote information »
Industry Sector
MINING

Pan African Resources PAF Dividends History

Announcement Date Type Currency Dividend Amount Ex Date Record Date Payment Date
13/09/2023FinalGBP0.00752230/11/202301/12/202312/12/2023
14/09/2022FinalGBP0.00869201/12/202202/12/202213/12/2022
15/09/2021FinalGBP0.00915602/12/202103/12/202114/12/2021
16/09/2020FinalGBP0.00688603/12/202004/12/202015/12/2020
18/09/2019FinalGBP0.00117312/12/201913/12/201930/12/2019

Top Dividend Posts

Top Posts
Posted at 08/3/2024 13:37 by justiceforthemany
Gold soaring to near $2,200
PAF making profits ++
Forward P/E 4
Posted at 05/3/2024 12:41 by stonedyou
GOLD / USD
$ 2122.90$ 2123.08 8.38 0.40%

GOLD / GBP
£ 1674.57£ 1674.76 8.23 0.49%

GOLD / EUR
€ 1957.22€ 1957.41 9.0 60.47%



PAN AFRICAN POSTS JUMP IN FIRST-HALF EARNINGS

(Sharecast News) - Pan African Resources reported a significant increase in net cash from operating activities in its interim results on Wednesday, soaring 134.5% to $27.2m year-on-year.

The AIM-traded firm said profits for the six months ended 31 December surged 46.7% to $42.4m, with headline earnings increasing 46.4% to $42.6m.

Earnings per share and headline earnings per share rose by 46.1% to 2.22 cents per share.

Despite a slight decrease in net dividend payments from $20m in 2022 to $18.3m in December, the dividend yield increased to 5.9% from 4.6% at the last traded price on 30 June.

The company said it maintained a healthy financial position, with net debt reaching $64.3m compared to $53.7m in the prior year period.

Gold production showed a commendable increase, reaching 98,458 ounces, a 6.7% rise compared to the previous reporting period.

Safety metrics also improved, with a notable decrease in the total recordable injury frequency rate to 6.13 per million man-hours.

Barberton Mines achieved a significant safety milestone, with four million fatality-free shifts in November.

The group said its surface operations reported no recordable injuries during the reporting period.

Despite inflationary pressures, production costs were effectively managed, leading to a reduction in all-in sustaining costs (AISC) per ounce to $1,287.

The group said its operations produced at an AISC per ounce of $1,149 per ounce, while tailings retreatment operations achieved an AISC of $894 per ounce.

Pan African said it anticipated further improvement in future AISC through renewable energy generation, water recycling, and other efficiency initiatives, as it reduced the AISC per ounce guidance range for the 2024 financial year to between $1,325 and $1,350 per ounce.

Pan African said it was committed to its growth projects, including the Mogale tailings retreatment (MTR) project, where steady-state production was expected by December to contribute 50,000 ounces annually over a 20-year life-of-mine.

Furthermore, environmental, social, and governance initiatives continued to be a priority for the company.

Construction of the Fairview Mine's 8.75MW solar plant was progressing, with commissioning expected in June.

"Pan African delivered an excellent safety, production and financial performance for the reporting period, which positions the group well to deliver on our production and cost guidance for the full financial year," said chief executive officer Cobus Loots.

"We are deeply saddened by the fatality that occurred at Elikhulu after the reporting period, as outlined in the subsequent events section further in the announcement.

"We are well positioned to deliver on our operational and strategic objectives for the 2024 financial year, and if the current gold price tailwinds persist, shareholders can look forward to a continuation of the reporting period's excellent financial performance for the full financial year."

At 1040 GMT, shares in Pan African Resources were down 2.37% at 16.93p.

Reporting by Josh White for Sharecast.com.
Posted at 15/2/2024 15:34 by justiceforthemany
Catalysts - PAF hosting a roadshow next week and broker dialogue.
Edison report due soon.
Upgraded production guidance.
Posted at 20/1/2024 09:19 by tightfist
Stockopedia Forecast for FY2024 is 3.0p and 3.8p for FY2025, just uplifted from 3.4p. That's why it has popped into my screen..I held PAF several years ago, but lost confidence in management. And we have the overarching SA factor..How secure is PAF.....the PPE ratio suggests market is pretty sceptical.....
Posted at 24/11/2023 07:46 by stonedyou
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 |
+------------------------------+---------------------------+
Posted at 23/11/2023 14:46 by stonedyou
Berenberg Bank Reaffirms “Buy” Rating for Pan African Resources (LON:PAF)

Posted by Defense World Staff on Nov 23rd, 2023


Berenberg Bank reaffirmed their buy rating on shares of Pan African Resources (LON:PAF – Free Report) in a report released on Wednesday morning, MarketBeat.com reports. The brokerage currently has a GBX 25 ($0.31) price target on the stock.

Pan African Resources Price Performance
PAF stock opened at GBX 16.44 ($0.21) on Wednesday. The stock has a market capitalization of £315.65 million, a PE ratio of 544.00, a price-to-earnings-growth ratio of 8.95 and a beta of 0.75. The company’s 50-day moving average is GBX 15.40 and its 200-day moving average is GBX 14.59. The company has a debt-to-equity ratio of 19.29, a current ratio of 0.79 and a quick ratio of 0.74. Pan African Resources has a 1 year low of GBX 11.73 ($0.15) and a 1 year high of GBX 20.90 ($0.26).


The business also recently disclosed a dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Thursday, November 30th will be given a dividend of GBX 0.75 ($0.01) per share. The ex-dividend date is Thursday, November 30th. This represents a dividend yield of 5.35%. Pan African Resources’s dividend payout ratio (DPR) is presently 3,333.33%.


Pan African Resources PLC engages in the mining, extraction, production, and sale of gold in South Africa. The company's flagship projects include the Barberton Mines that consists of three underground mines, including Fairview, Sheba, and Consort located in the Barberton Greenstone Belt; and Elikhulu tailings retreatment plant in Southern Africa.
Posted at 22/11/2023 10:29 by stonedyou
Pan African Resources positioned for 'excellent results’ thanks to improving gold volumes.

Published: 08:11 22 Nov 2023


Pan African Resources PLC (AIM:PAF, OTCQX:PAFRY, JSE:PAN, OTCQX:PAFRF) (PAF) is positioned to deliver "excellent results" for the full financial year, chief executive Cobus Loots told investors.

The gold miner, in an interim production report released today, said half-year gold output was between 94,000 and 98,000 ounces – representing a 2% to 6% improvement on the same period a year ago.

Operationally, PAF said it is performing in line or better than anticipated across it portfolio.

The Barberton mine yielded 37,000 to 38,000 ounces, with a switch to continuous mining operations providing higher tonnage and grades, whilst the Evander mines contributed 20,000 to 21,000 ounces which was also an improvement helped by grade and improved "conveyor availability".

At the Elikhulu tailings, the company produced 27,000 to 28,000 ounces. Meanwhile, Evander surface operations yielded 2,000 ounces and tailings retreatment at Barberton contributed a further 8,000 to 9,000 ounces.

For the full year, PAF is now expecting production in the range of 180,000 to 190,000 ounces, up slightly from prior guidance of 178,000 to 190,000.

“The expected production performance for the half year to December 2023 positions the group to deliver excellent results for the full financial year,” said Loots.

“The continued momentum with the construction of the MTR plant at the group’s Mintails project is again testament to our track record of bringing world class tailings retreatment projects to account.

“MTR is expected to commence production at the end of 2024, and will add some 50,000 oz/yr to group production, increasing our annual output by some 25%.”
Posted at 21/11/2023 11:44 by xb6
Nice to see a new dedicated thread for PAF and a place to discuss the future possible Takeover.Personally i think its very very likely. Great take on things there 1_dma !


1_dma - 21 Nov '23 - 10:19 - 1 of 4

Pan African Resources could now be a PRIME takeover target for either an existing regional player or indeed a new entrant looking for producing Gold assets in South Africa.The company has been steadily building its output and reducing debt, and has been paying healthy dividends to shareholders for a number of years now. Yet this progress has not translated into a fair market valuation compared to its peers in the sector so far and surely makes it vulnerable to a takeover approach.

PAF currently has a PE "price to earnings ratio " of around 3 compared to sector averages of 10+ ,but has a record of paying an over average sector dividend of around 6% ( compared to sector average of 3% ).

The current Gold Mining enviroment and high commodity prices also make Pan African even more attractive given its industry leading profit margin of near 20% and very high ROE ( return on equity )
Posted at 20/9/2023 11:37 by justiceforthemany
EDISON RESEARCH
Valuation: Cheap by any measure

Despite making a number of adjustments to our model to reflect updated circumstances, as well as guidance, our core (absolute) valuation of the company remains almost unchanged at 34.59c (cf 34.24c previously), based on projects either sanctioned or already in production. However, this valuation rises by a further 18.59–23.61c if other assets (eg Egoli) are also taken into account. Alternatively, if PAF’s historical average price to normalised HEPS ratio of 8.4x in the period FY10–23 is applied to our FY24 and FY25 forecasts, it implies a share price of 36.29p in FY24, followed by one of 38.22p in FY25. As such, PAF’s current share price of 14.28p could be interpreted as discounting normalised HEPS falling to 2.12c per share (cf 5.40c/share and 5.69c/share for FY24 and FY25 forecast, respectively). In the meantime, PAF remains cheaper than its principal London- and South African-listed gold mining peers on at least 94% of commonly used valuation measures if Edison’s forecasts are used and 86% of the same measures if consensus forecasts are used, which collectively imply a share price of 27.24p on the basis of our year one EPS and 35.17p based on our year two EPS. Finally, we estimate that PAF has the sixth highest dividend yield of any precious metals mining company, globally (cf the 10th highest previously). In the meantime, its enterprise value equates to just US$9.41 per resource ounce of gold.
Posted at 14/6/2023 15:23 by justiceforthemany
Valuation: Still closer to 30p than 20p

Notwithstanding our earnings forecast reduction, PAF remains cheap relative to both its historical trading record and its peers. Our core (absolute) valuation of the company has risen by 4.8% to 34.17c (cf 32.59c previously), based on projects either sanctioned or already in production, with all of the increase effectively attributable to the recent decline in the value of the rand against the US dollar. Moreover, this valuation rises by a further 17.06–22.08c (16.09–21.11c preciously) once other assets (eg Egoli) are also taken into account. Alternatively, if PAF’s historical average price to normalised HEPS ratio of 8.6x in the period FY10–22 is applied to our FY23 and FY24 forecasts, it implies a share price of 26.56p in FY23 (cf 29.53p previously), followed by one of 32.74p in FY24. As such, PAF’s current share price of 13.50p could be interpreted as discounting normalised HEPS falling to 1.94c per share in FY23. In the meantime, PAF remains cheaper than its principal London- and South African-listed gold mining peers on at least 83% of commonly used valuation measures, which collectively imply a share price of 35.06p in FY23 and one of 35.09p in FY24. Finally, we estimate that PAF still has the 13th highest dividend yield of any precious metals mining company, globally.

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