Pan African Resources Share Discussion Threads

[justiceforthemany] 04/5/2018 19:10

They are stupid as this behaviour will destroy their economy and drive away foreign investment. Mantashe and Ramaphosa are idiots it seems.

[fangorn2] 03/5/2018 21:09

Simon Lincoln Reader now very pessimistic on where Sarf Africa is headed.
James Delingpole podcast


Worth a listen as it gives plenty of info about the politics of the new Govt.

[justiceforthemany] 03/5/2018 13:50

Edison research value PAF at closer to 20p. I would say 25-30p is fair.

[justiceforthemany] 02/5/2018 23:16

I have been saying for months there is no point producing gold at a loss. Evander was the only loss making mine and was reducing profits so makes sense to suspend. Redundancy money paid to the workers there and the gold will not go anywhere until gold price rises again.

[stonefold] 02/5/2018 16:23

Retrenchment = Reduction of costs (staff redundancies) in response to the strong Rand/ US dollar exchange rate which made the Evander Mine uneconomical.

This has been expected for many months.

This action will help to make the remaining jobs more secure.

[dogray123] 02/5/2018 15:54

RE operation update what does employies retrenchment please

[edjge2] 01/5/2018 14:57

London price does not seem to follow Joburg, odd.

[astjgroom] 30/4/2018 16:13

Hmmm, I have no idea, let's hope it's just random. He hopes.

[justiceforthemany] 30/4/2018 14:52

Very quiet board. Down 9% in Jo/burg

[justiceforthemany] 30/4/2018 12:45

Something adverse happened at 1115AM - ??
No large trades/sells that I can see.

[stonefold] 26/4/2018 12:27

Holdings RNS
PUBLIC INVESTMENT CORPORATION SOC LIMITED
Have switched to buying mode, increasing by 10,124,245 shares in the last couple of months.
Their holding total now = 96,107,711


---
Some big transactions.

Yesterday 2,500,000 at 7.42p
Today 2,500,000 at 7.5p

[astjgroom] 26/4/2018 09:12

Strange, that 66,987 buy was mine, but at a lower price

[astjgroom] 24/4/2018 10:51

Finally...

[astjgroom] 24/4/2018 09:56

Won't let me buy more than 10k shares...

[redtrend] 23/4/2018 19:18

As per interim results for period ending Dec 2017, PAF had ZAR 118.7 million cash ($10m USD) and have debt facilities that could be utilised up to ZAR 2bn ($167m).

PAF only have gross debt of ZAR 772 million ($64m) so have a lot of headroom to use their existing debt facilities. So no they do not need to raise funds. The last presentation is pretty good overview and if you jump to pg.14 you can see the forecast net debt profile.

[astjgroom] 23/4/2018 14:13

They have cash n come August/sept they will have shed loads more with a $660 production rate. Miners are just out of fashion. Watch this space.

[laptop15] 23/4/2018 14:02

Is now a good buy in price?? I've been watching but not sure....is there suffient cash or will they need to raise funds

[laptop15] 23/4/2018 13:52

Whats PAF cash situation??

[obbig60] 23/4/2018 11:03

Research note on PAF from Edison:

[edjge2] 19/4/2018 08:21

Encouraging Justice and gold and silver seeem to have just blasted up, recovery may be its 2018 thing.

[justiceforthemany] 17/4/2018 22:18

Pan African on track to produce between 177,000 and 181,000 ounces of gold this year
14:28 16 Apr 2018
Pan African now is moving on from operational issues, with production at Barberton set to rise significantly this year

[justiceforthemany] 17/4/2018 22:18

Barberton Mines on track to produce 50,000 ounces of gold in the second half of 2018
Production from Barberton is expected to increase by 23% during the second half of 2018, as the company moves on from issues relating to the underground grade which hampered development in the first half.

First half production was also hit by industrial action and disruption from pressure groups, as well as a technical issue with the ore at the Barberton Tailings Retreatment project.

All those issues have now been addressed.

Evander returns to profitability
After remedial action was taken to address critical shaft infrastructure, Evander has returned to profitability, and production has risen by 5.4%. Gold sold rose to 32,734 ounces during the first half of the current year. However, at this stage, Pan African is being cautious about setting precise production guidance for this mine.

Gold production from Evander Mines will be dependent on the outcome of the labour consultation process and the review of the 8-shaft operations. As it stands, Pan African is prioritising lower cost, high margin ounces in the current weak rand gold price environment. A reduction in non-paying gold production will therefore benefit group margins and sustainable cash flows.

Expansion projects underway
Construction of the Elikhulu tailings retreatment plant remains ahead of schedule, with first gold production expected in August 2018. A feasibility study has confirmed the viability of processing tailings from the Evander Retreatment plant.

Meanwhile, the company has booked a 100% increase in resources at Barberton’s Royal Sheba Project to 720,000 ounces, and a re-assessment of the feasibility of Evander Mine’s Egoli project is in progress.

Objective is to deliver low-cost high margin, sustainable gold, says chief executive
“The past 12 months have been a watershed period, during which we reassessed the sustainability of all our operations and dealt with the issues causing operational disruptions,” said chief executive Coobus Loots.

“While we still have some work to do, we are confident our operations are being positioned to deliver into our objective of mining relatively low-cost, high-margin and sustainable gold ounces. In light of the prevailing low ZAR gold price, the group is reviewing its cost base and the strategic merits of our portfolio. We expect to deliver improved production results and cost savings in the next reporting period.”

[pecker1] 16/4/2018 17:18

ADVFN problems

[justiceforthemany] 16/4/2018 16:31

No write up that we can see. Your link has not been posted.