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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Pan African Resources Plc | LSE:PAF | London | Ordinary Share | GB0004300496 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.40 | -1.93% | 20.30 | 20.30 | 20.40 | 21.00 | 20.25 | 21.00 | 1,257,119 | 11:51:48 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Gold Ores | 321.61M | 60.74M | 0.0317 | 6.39 | 388.09M |
Date | Subject | Author | Discuss |
---|---|---|---|
14/8/2019 18:43 | Investment summary Earnings and output in H1 were consistent with our full year expectations, with a 54% increase in gold produced from continuing operations and a 23% decline in AISC combining to result in a 117% increase in EPS in GBP. A subsequent operational update has confirmed production of 172,442oz in FY19 cf guidance of 170koz in FY19 and 185koz in FY20 (implying near 2p/share EPS). | stonedyou | |
14/8/2019 18:35 | "We look forward to updating the market on this project in the months ahead." Pan African said it was confident that it remained on track to meet its gold production guidance of 170,000 ounces for the full financial year ending 30 June. "With Elikhulu producing at a steady state for a full year and the incremental contribution from Evander's Pillar operation, we expect to produce approximately 185,000 ounces of gold for the 2020 financial year, which is a sizeable increase in our gold production profile," Loots said. | stonedyou | |
14/8/2019 10:39 | Stocks Face A Dead Cat Bounce; Gold and Bitcoin Are Likely To Move Higher Naeem Aslam The strongest economy of the Eurozone is sick European markets are under the influence of feeble German GDP data. The strongest economy of the Eurozone is sick . Its GDP shrunk to - 0.1 percent while the previous reading was 0.4 percent. The euro-dollar pair bounced back on the back of this data because the number was in line with expectations. Speculators aren’t convinced that the current upward move will last for long because it is highly likely that France, Italy and Spain may follow the same route very soon. Moreover, the European Central Bank is going to look at the overall picture in Eurozone and that only tells one story; the sick man needs its medicine. Hence, the German Chancellor, Angela Merkel, will have to unleash a new fiscal stimulus package for her country to combat the effects of U.S.-China trade war. This may just do some of the tricks for Eurozone’s economy. Don't Buy The Old Film As for the US markets, if you are thinking that the dead cat bounce is going to last for some time, then perhaps you may be wrong. Traders should not be betting on the long side when it comes to equities and this is because we have seen these lifeless promises several times before. President Trump decided to delay the new tariffs on China by another 3 months and traders reacted way over the top yesterday. Yes, I concur that it is a step in the right direction, but I am not convinced it is going to yield anything again. Yesterday’s bounce in the equity markets was purely due to way too oversold levels. A corrective move was long due. But this doesn’t mean that the current downtrend is going to change. The downtrend is likely to continue MIT To Award $1.6 Million To Most Innovative Future Of Work Organizations In The World Chinese Economic Data - Centre of Attention Moreover, I do not think that traders have paid much attention to the important economic numbers out of China. The Chinese industrial number was much softer, it printed the reading of 4.8% missing the forecast of 6% and the retail sales data also echoed the same message. It came in at 7.6% while the forecast was 8.6%. So, do you still think that there is a valid reason to celebrate? As long as we do not see any serious progress on the trade war front, any rebound in the equity market could be an opportunity to slam it down. Gold Price Still Likely To Move Higher So, overall, we could see a little bit of risk on today. The gold price may struggle to touch its highest level of the year which sits at $1,535. But I am convinced the path of least resistance for the gold price is skewed to the upside. it is only a matter of time before bulls push the price back above the 1500 mark and start targeting the level of $1,550 again. | stonedyou | |
14/8/2019 09:17 | And oh...this is a great lead: Coronation Asset Management (Pty) Ltd - from holding 7.95%...they have now de-risked and SOLD (over the past few months!), leaving approx HALF of there holding at now, only 5.86% | atino | |
14/8/2019 08:56 | God damn, it feels good to be back in the mining sector 😀 (...I forgot how long & cumbersome it can be in a project development life cycle 🤦a | atino | |
14/8/2019 08:49 | Be careful 😑 Any annual production targets or financial forecasts given...now going forward...will have to be considered, NET of 20,000 ounces per year (...or minus 20,000 ounces from the total stated/indicated) | atino | |
14/8/2019 08:28 | I TOLD YOU’S.... ...BRING FORWARD YOUR “FINEST” AVATARS/POSTERS...TH | atino | |
14/8/2019 08:24 | Dude - what trade war - it been delayed ! (Quote 14/8/19) “Gold prices slip as investors take heart from Trump tariff move” Having hit a six-year high in early morning trading on Tuesday, gold fell two percent after the United States said it would delay tariffs on some Chinese products. These posters....ain&rsquo | atino | |
14/8/2019 07:26 | (Sick 🙌 )...nearly got me self....that “G-note” 🏄a | atino | |
14/8/2019 07:15 | ...what’s your shares in circulation? 🤷🏻 ...and has this...PAF share...had a share consolidation yet in its history ? 🤷🏻 | atino | |
14/8/2019 07:14 | The restructured RCF facility referred to in the operational update announced on 17 May 2019, became effective on 3 June 2019. The Group’s senior debt will amortise in terms of the following repayment profile: The repayment profile of the Elikhulu project’s term debt facility, comprising quarterly, equal principal instalments of R50 million, commencing in September 2019, is unaffected by the restructuring of the RCF. In light of the strong prevailing rand gold price and the opportunity it presents to lock in an attractive cash margin and reduce interest costs, the Group entered into a gold loan for 20,000oz with Rand Merchant Bank (“RMB”) a division of First Rand Bank Limited, in July 2019. In exchange for an upfront cash receipt of R394 million, the Group will deliver 12 monthly instalments of 1666.67oz to RMB, commencing on 31 July 2019, in settlement of the gold loan. The gold loan effectively locks in a gold price of approximately R633,000/kg or US$1,414/oz on 622kg of gold, representing approximately 11% of the Group’s guided gold production for the 2020 financial year. The proceeds of this gold loan will be used to reduce the balance of the RCF debt, resulting in a material interest saving for the Group over the next 12 months. 🧐 effective from June ?...so minus 20,000 ounces...from your annual production targets ??? 🤷🏻 So if this loan was in effect upon your last set results...you actually would have sold, on the open market...only 152,000 😉🙇 ...you NOW need to dig...and dig at a fast rate, to make the 20,000 shortfall (...which will now be TAKEN into consideration) 😉🙇 | atino | |
13/8/2019 19:57 | [Snippet 🙇] He said Evander’s 8 Shaft Pillar mining was expected to contribute an additional 20,000 ounces to 30,000 ounces per annum for the next three years and the group was currently reviewing the merits of expediting its Egoli project and assessing funding options 😉 Progress was also being made with the underground mining project feasibility study at Royal Sheba, Loots added. | atino | |
13/8/2019 19:28 | Gold could hit $2,000 in a world full of negative yields Key Points A case can be made for gold to rise to a lofty $2,000 level, based on the activities of the world’s central banks and $14 trillion in negative yielding debt, strategists say. Analysts say gold is attractive in a world of uncertainty, and it also shines as the amount of safe assets shrinks. In a world full of negative yielding debt, hard assets like gold could become even more attractive, and some strategists say a case could be made for a $2,000 per ounce price tag on the precious metal. Gold futures were at $1,513.80 an ounce Tuesday, down about 0.2%. In late May, gold snapped out of its slumber, broke above $1,300 and has not looked back. In September, 2011, gold futures reached all-time high of $1,923.70 per ounce. We have a long position trade on. We are targeting $1,585,” said Daniel Ghali, commodities strategist at TD Ameritrade. “We do think gold is on its way higher for the time being...Over the coming years as the likelihood of the unconventional policy becomes more of a reality, I could see a case for gold at $2,000.” Gold has also been firming as the world watches protests in Hong Kong and also the uncertainty around U.S., China trade relations. On Tuesday, gold erased its gains and risk assets rallied after the U.S. announced it would hold off on tariffs on consumer products until mid-December. TD Ameritrade strategists believe the many years of unconventional and easy monetary policy from the world’s central banks has resulted in a shortage of “safe assets” and that’s “evident by the fast growing pile of negative yielding debt, which is ultimately leading to a growing appetite for precious metals.” “Negative yields are symptomatic for the search for safe assets. The reason they’re trading at negative yields is because the demand for safe assets is bigger than the supply for them,′ said Ghali. “Gold stands to benefit quite a bit from that.. the trade we’ve been recommending we have it as a three moth time horizon. I would argue we are likely on the cusp of a multi-year bull market for gold.” Bank of America Merrill Lynch’s metals strategist Michael Widmer, in a note, also says negative yields are making gold shine. He said the successive rounds of monetary easing driving bond yields lower and creating $14 trillion in negative yielding debt have also been recently supported gold prices. “With more easing to come, the dynamic will likely sustain a bid for the yellow metal,” he wrote. But Widmer said all of the rounds of central bank moves, including quantitative easing, have clearly delivered “less bang for the buck” when it comes to stimulus. He said this could result in “quantitative failure,” or an environment where markets focus on high debt levels or the lack of economic growth, and that could lead to volatility. “At the same time, and perhaps perversely, such a sell-off may prompt central banks to ease more aggressively, making gold an even more attractive asset to hold. We have a relatively conservative 2Q20 forecast of $1,500/oz, but in this scenario, we see scope for gold to rise towards $2,000/oz,” he wrote in a note. Widmer said central banks are also driving up gold, as they have now become net buyers of the metal. Widmer notes that the World Gold Council expects gold reserves to increase over the next year at central banks. “The motivation behind the respective reserve strategies varies, with the historical positioning, the long-term store of value, gold’s role as an effective portfolio diversifier and lack of default risk featuring the highest among EM and DM institutions. De-dollarization features as well as a motivation,” Widmer wrote. Gold futures [for December] are up more than 5.2% in August so far, and 18% for the year so far. | stonedyou | |
13/8/2019 19:25 | Pan African Resources recovery has legs | by John Cornford 05 August 2019 With problems at its Evander mine behind it, shares in gold miner Pan African Resources are in recovery mode and could have further to go, writes John Cornford. Let’s hope readers benefited from my gold article last month. Its rise has floated most listed gold boats higher, particularly in London where gold is now at an all-time high (in sterling terms) following the pound’s fall (£1,167 per troy ounce vs £1,150 in September 2011). Meanwhile, the dollar price for North American listed stocks is still 22% below its same $1,820 peak. And interesting that my one reservation (because it’s actually a silver miner and the silver price is dull), Ariana, has fallen by 20%. (Although perhaps investors have a dim view of Turkey.) That rise in pound terms flags the question whether UK investors might have been pushing up UK based gold shares further than warranted if gold stutters or sterling recovers. Bear in mind that the ‘real’ world gold price is set, not in the US or London, but by demand and costs in mining countries, and by central banks in China and Russia who, it is said, have been leading this year’s rush into gold. Anyway, that introduces my two gold shares this month, both recently strong but one of which I believe will outperform whatever gold or the dollar does, and the other of which I believe looks slightly vulnerable in any scenario. My buy is Pan African Resources (LON:PAF), market cap: £270m @12.1p 🙇 Unlike the junior miners I usually cover, aiming to spot the phase when their often sole mining project is about to reap rewards from starting production after years of spending, and when investors have seen their early support dented by constant fund raisings and diluted share prices, larger miners have portfolios of projects where the skill is to juggle spending across developing and producing mines to ensure a more even flow of total profits. PAF comes somewhere in between, with its share history demonstrating how the differing performance of its relatively few projects has affected the total, but also the success of a strategy that saw its sub 3p debut price on AIM in 2004 peak at 21p in 2013, and then 23p in 2016, before problems arose (soon to be past history) in one of its acquisitions. Pan African Resources – last five years Pan African Resources share price PAF started out to build value through exploration in Africa’s gold deposits, and then to use shares boosted by any success to acquire mines already in or near production, whose cash flow could be ploughed back into development and more acquisitions. That strategy delivered rising profits without any need for borrowings, and enabled PAF, unusually for an early stage miner, to pay dividends, a policy which remains a key objective and is a major reason for my interest now. The first fruit of this strategy was the acquisition in 2007, cheaply for shares, of the prolifically cash generating Barberton Mines in the Eastern Transvaal, from conglomerate Metorex who was desperate to limit its exposure to the trouble then brewing in the world economy. After 130 years, Barberton still has a long life remaining which is being augmented by expansion into new mining areas, and has some of the world’s highest gold grades. As is always a risk in mining however, PAF’s second key acquisition that had looked so promising in 2013, the Evander Gold Mines, bought cheaply from mining giant Harmony Gold (who said it needed the cash for a better project, although must have known it was selling PAF a bit of a pup) failed to become the ‘game changer’ that PAF had hoped for. That was because, while Evander still has much gold still in the ground, its old infrastructure turned out to need more spending than PAF felt justified in light of the then falling gold price, so that in 2018 the decision was made to close its underground workings. That followed a few years of disappointing performance where from a peak of 73,416 ounces in 2016 (87% of Barberton’s), Evander’s underground production fell to 48,565 oz in 2018, and this year (to June 2019) will be only around 20,000 after its closure. But against that, after further investment a more profitable tailings plant at the site has come into operation and will eventually almost completely replace previous production levels and add almost 50% to Barberton’s. Those Evander problems caused overall profits to fall drastically in 2018 even before a large exceptional charge to close the mine, so that PAF’s overall earnings fell to a 5.15p loss per share, while the previous year’s 0.45p dividend was foregone. Now, with the rapidly growing new tailings operation, and Barberton expanding and more efficient, Edison estimates that 2019 profits will have recovered enough to at least partly restore the dividend, with full restoration and possibly more in 2020 after a further sharp increase in available cash now that the closure and tailings construction is complete. That estimate is based on a $1,305/oz gold price, so if the present $1,414/oz is maintained there will be a further boost, in which case Edison’s forecast of a 0.56p dividend would deliver a 4.8% yield at the present 11.5p share price. By then however, we would expect the shares to be considerably higher with the prospect of an even larger dividend. Note from the chart the relatively low volume so far in this recovery phase. I think that is reassuring. Spikes in share prices are definitely not to be chased. | atino | |
13/8/2019 18:48 | (Kitco News) - The gold market will continue to ebb and flow as short-term sentiment shifts, but there is still a long-term investment case to hold the yellow metal as a strategic safe-haven asset, according to the third largest gold- backed exchange-traded fund. Steve Dunn, Head of Exchange Traded Funds at Aberdeen Standard Investments, said that a collision of factors -- including ongoing financial market uncertainty and a low interest rate environment -- is creating the perfect environment for gold as investors look for safe-haven alternative assets. Dunn added that because of long-term issues impacting financial markets, investors are turning to the firm’s gold-backed ETF (NYSE: SGOL), which is the lowest cost gold ETF in the marketplace. Friday, the firm announced that SGOL reached the $1 billion market in assets under management putting it behind SPDR Gold Shares (NYSE: GLD), the largest gold ETF with assets over nearly $41 billion. “When you are looking at a long-term investment, costs become an important factor for an asset manager and that is where SGOL has an advantage over other ETFs,” said Dunn. ““SGOL is well positioned to benefit from the current demand for gold because it is the cheapest way for U.S. investors to track the price of bullion.” Renewed volatility in gold prices is expected in the near-term as investor sentiment shifts with each new headline, Dunn said. But, the underlying investment uncertainty will not go away anytime soon, he added, explaining that trade tensions and geopolitical instability will continue to weigh on growth expectations, which will ultimately keep interest rates lows. And while gold appears be a little over extended, Dunn said that he is not expecting to see any major correction in the near-term. “I don’t think you can ignore the run gold has had in the last 10 weeks and not expect some profit taking,” he said. “But, there is risk in the system and that will be good for gold.” With gold trading at $1,500 an ounce, Dunn noted that the rally has exceeded the firm’s forecasts; however, he added that the market is probably close to fair value. “I think we would need to see a major event risk to stretch gold higher,” he said. And if investors are still looking for value in the precious metals space, Dunn pointed to the firm’s silver ETF SIVR. “While gold is close to fair value we do see a lot more potential for silver from a value standpoint,” he said. By Neils Christensen For Kitco News | stonedyou | |
13/8/2019 18:27 | Cino....will do.. | stonedyou |
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