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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 | |
---|---|---|---|---|---|---|---|---|---|---|
-1.15 | -5.26% | 20.70 | 20.70 | 20.80 | 22.00 | 20.65 | 22.00 | 4,309,796 | 16:29:49 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Gold Ores | 321.61M | 60.74M | 0.0317 | 6.53 | 396.72M |
Date | Subject | Author | Discuss |
---|---|---|---|
08/10/2019 12:04 | 7% rise in SA today so far. | justiceforthemany | |
07/10/2019 16:54 | I'd prefer some share price growth n a better % return rather than more debt, at least for 12 months to get in a better cash position. That's the way I'd vote. | astjgroom | |
07/10/2019 16:51 | AISC for 2019 was 450,564R/kg [12,773R/oz] Current gold price = 22,704R/oz i.e. almost double the cost of production so huge margin. Target for 2019-20 production = 185,00oz At the current gold price we are looking at Profit before Tax of 1,837,235,000R [$121,269,637] Shares in issue 1,928M EPS 6.3c [5p/share] Could PAF really only be trading at just over 2x projected earnings? Looks like it. Net debt as of 30/6/2019 was $129M $121M PBT for 2019-20 pretty much wipes this out. £100M PBT for PAF would be some achievement and equate to approx half its current market cap. In a fair and regulated FCA market this would be trading at a minimum 10x forward earnings = 50p+ [not 11p!] | justiceforthemany | |
07/10/2019 16:12 | Baffling share price performance since results. At this rate Cobus will be meeting many angry shareholders again at the AGM next month. The article below may have something to do with this - he needs to postpone any new projects and pay down the debt which could be wiped out within the next 18 months or so. Sept 19th Pan African Resources expects to encounter opposition among some shareholders to its plans to build the R750m Egoli underground mining project, an extension of the Evander Gold Mines orebody which is situated in Mpumalanga province. “It will require a lot of work with shareholders,” said Pan African CEO, Cobus Loots in an interview with Miningmx. “We need to go into this with our eyes wide open.” The commissioning of the R1.7bn Elikhulu gold retreatment plant last year was one of the main factors that helped the company storm back to profits in 2019. In comparison, Egoli could cost as little as R500m if it’s decided a new gold plant is not required. Pan African would also be prepared to enter into a joint venture to develop it. Pan African is improving on its feasibility study, but at present Egoli has been scoped for some 11 years of mining in which it will produce an estimated 23,500 oz a year during an initial four-year phase, and 79,000 oz/year for the remaining seven years. An increase in gold production could give Pan African a major boost, especially at the current gold price of just over R708,000 per kilogram. Egoli was scoped assuming a R600,000/kg. Loots suspects shareholders, however, are wary of South African gold. “If this [Egoli] was anywhere else it would be a separately listed company with an attractive market capitalisation&rdquo | justiceforthemany | |
07/10/2019 14:23 | Y/E Jun Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (c) P/E (x) P/CF (x) 2018A 145.8 38.1 29.3 1.31 10.8 48.0 2019A 217.4 64.0 35.6 1.56 9.1 4.8 2020E 274.6 114.8 83.4 2.46 5.8 2.7 2021E 309.9 149.8 120.3 3.75 3.8 1.9 LAST UPDATED ON 03/10/2019 EDISON RESEARCH | justiceforthemany | |
03/10/2019 20:19 | Why Gold Is Poised to Go Higher Ever since President Nixon abandoned the gold standard in 1971, there have been significant attempts by multiple investment institutions and media outlets to portray a negative bias against gold. Due to years of negative publicity, many investors hold a negative bias towards holding gold, or are unaware of the benefits of holding gold. The average investor has been steered away from gold, which is resulting in limited participation from pension funds and the public. Historically, it was advantageous to hold at least 5% gold within a portfolio in order to truly diversify. Currently, pension funds only hold a 0.5% portfolio allocation, which is alarming considering the unfunded liabilities facing many of these funds. Exhibit K displays gold as a percentage of global financial assets, and displays the changes from 1960 until now. As discussed, it was historically desirable to hold at least 5% gold within a portfolio, but at the end of 2018, gold only accounted for 0.5% holdings. | stonedyou | |
03/10/2019 20:17 | Exhibit K When I wrote $10,000 Gold: Why Gold’s Inevitable Rise Is the Investor’s Safe Haven in 2013, I felt like a lone wolf in the wilderness with my prediction. Today, Pierre Lassonde has predicted $25,000 gold, and Jim Rickards $40,000 gold. While the predictions seem far-fetched to many investors, if we analyze the available supply of gold and the amount of financial assets in the marketplace, then we can attain a reasonable prediction for the gold price. There is a total of about $300 trillion in financial assets, consisting of stocks and bonds. While there is about $7.78 trillion of aboveground gold, only $1.64 trillion is investment-grade bullion. The remaining gold is typically found in jewellery ($3.7 trillion), official sectors ($1.34 trillion) or other sectors ($1.1 trillion). Of the $1.64 trillion of bullion, no one knows how much is held by the world’s richest families, such as the Rothschilds. This privately held bullion would not be exchanged for fiat currencies, regardless of the price. However, even if you assume that the entire $1.64 trillions’ worth of bullion were available, if 5% of investors in financial assets decided to allocate to bullion, that would equate to $15 trillion of demand. Since mine supply has been in decline, and it takes about 20 years to bring a mine from discovery to production, the only way you can divide $15 trillion into $1.64 trillion is for the price to go up to $11,500/oz. | stonedyou | |
03/10/2019 20:12 | Gold Price Forecast to Exceed $10,000/Ounce Before making an investment decision, every investor should understand true inflation. But what is true inflation? Currently, inflation is measured using a floating basket of goods in the Consumer Price Index (CPI), which continues to understate true inflation. Two useful tools for determining true inflation figures are John Williams’s Shadow Statistics and the Chapwood Index. John Williams, a renowned economist, provides excellent insights about the severity of misstated inflation rates. Using a fixed basket from 1980 to compare to today’s prices determines that inflation is actually 9.46%, not 1.75% as represented by the CPI. Exhibit A provides a visual interpretation of discrepancies between reported inflation and true inflation. Exhibit A To put this into perspective, we will use an example that affects many investors daily. Assuming inflation is held at 2% (as desired by many economies), a bond yielding 3% would return 1% after the effects of inflation were taken into consideration. However, using John Williams’s true measure of inflation (9.46% in this case), an investor would quickly realize that they are losing 6.46% in annual purchasing power by holding onto the bonds. This is extremely valuable to investors, because it goes against many conventional investment strategies displayed in the media. Understanding the true effects of inflation could be the difference between capital gains and capital losses for your portfolio. In addition to ShadowStats, the Chapwood Index is a great tool for measuring real cost of living increases, because it calculates the top 500 items Americans spend their after-tax dollars on in the 50 largest cities of the nation[1]. The Index reports the actual price increase of the top 500 items with no seasonal adjustments and focuses on real price changes. The average stated inflation rate among the 50 largest cities within the Index determined that true inflation is 10.7%, also much higher than the 1.75% reported by the CPI. Like the example previously used, investors would be losing purchasing power by holding onto investment vehicles with yields lower than 10%. Gold Is Not Simply A Disaster Hedge A common misconception about gold is that it is simply a hedge against disasters. Although gold acts as a strong hedge against disaster, there are many additional benefits of holding gold that are rarely covered in mainstream media. Holding at least 10% of a portfolio in gold will reduce volatility and improve returns. Because the risks of a market crash are significant, the minimum gold allocation today should be 20%. Exhibit B Exhibit B shows the correlation of various asset classes against US equities, which is important due to the typical weightings the equities carry within an investor’s portfolio. A portfolio consisting of 60% equities and 40% bonds is a common investment allocation used within the marketplace today. Unfortunately, this does not result in a fully diversified portfolio. According to Ibbotson & Associates, stocks and bonds have been correlated since 1969. If a market correction were to occur, both equities and bonds would suffer declines and, as a result, a 60/40 portfolio is not fully diversified. Analyzing the table above shows that gold carries almost no correlation to US equities, and thus is an excellent tool for truly diversifying your portfolio. If the economic indicators pointing towards an economic downturn prove to be correct, then gold is one of the best available methods for protecting your capital. A secondary benefit of gold is its ability to preserve purchasing power. This is extremely important across many demographic categories, but may be most important for those planning their retirements. Upon retirement, the opportunity to increase your net worth begins to diminish, and makes loss of capital much more detrimental due to lack of time to recover from losses. On an inflation-adjusted basis, it took until 1984 to break even following the 1929 crash. Exhibit C is a useful table for displaying gold’s ability to maintain purchasing power throughout history. The table compares how many ounces of gold were required to buy a car, a home, or a share of the Dow Jones. Comparing the figures, it is evident that less gold is required now than in 1971 when looking to make each of the purchases. This indicates that gold maintains and even strengthens in purchasing power over time, which cannot be said for simply holding cash or bonds throughout the investment horizon. Exhibit C Exhibit D looks at the central bank holdings of gold and how they have evolved. It is evident that up until 2007, the central banks were net sellers of their gold reserves; however, the financial crisis of 2008 forced the central banks to become net buyers of gold. This shows the increased fear of a potential currency crisis, which can be accounted for by increasing consumer and government debt levels that have continued to increase even after the 2008 crisis. Quantitative easing (QE)was used during the 2008 recession to aid the economy; however, at current debt levels, additional QE will continue to hurt world currencies, and will push gold on its continued upward trend. | stonedyou | |
02/10/2019 22:33 | Share price has again closed well below the JSE equivalent. AIM is a manipulated disgrace. FCA need informing. Company has been told several times about this. | justiceforthemany | |
02/10/2019 01:39 | Traders doing their PM business as China goes on holiday.... As of today, China will be on vacation for its Golden Week National Holiday and this weakness appears to be traders front-running the traditional chaos that the rest of the world plays when China leaves the playing field. China will be back in business on October 9th, and that means the Shanghai Gold Exchange, which opened in 2015 to counter Western manipulation of precious metals, will likely help re-balance prices to where they were before this recent takedown. We could be wrong, but something tells us gold and silver prices won’t stay this low for much longer and that they could well see a complete turnaround when China reopens on October 9th. Tyler Durden Mon, 09/30/2019 – 11:33 | risa5 | |
01/10/2019 16:16 | 22,726.66 ZAR GOLD PRICE +497.63 +2.24% Good day for ZAR GOLD PRICE today | justiceforthemany | |
01/10/2019 10:43 | Very surprised by the downward trend here. At 11p shares are trading at an insane 3x earnings. Dividend also restored. ZAR gold close to all time highs. Political risks yes in SA but I doubt the directors x3 including CEO and Chairman would be buying if any imminent risk. PAF should arguably be trading at 3x the current share price. | justiceforthemany | |
29/9/2019 09:37 | 'MASS SURRENDER' Thousands of Saudi soldiers ‘captured or killed’ by Iran-backed Houthi rebels in Yemen two weeks after oil plant attack, reports claim YEMENI rebels have claimed to have captured thousands of Saudi troops in an attack near the border. Yemen's Houthi movement said tonight it had carried out a major attack near the border with the southern Saudi region of Najran and claimed three "enemy military brigades had fallen". Claims of the attack comes just two weeks after an Iran-backed missile strike on Saudi's main oil plant, which sparked a spike in global petrol prices. The oil plant strikes also heightened tensions between Iran and the US with President Donald Trump threatening the nation, saying the US is better prepared for war than any other country. American officials claim Iran Supreme Leader Ayatollah Khamenei's "fingerprints" were all over the Saudi oil plant blitz and satellite images showed his henchmen preparing the launch site. SAUDI OIL ATTACK Trump warned the US military was "locked and loaded" - responding to Tehran's threat that it is "ready for fully-fledged war". There was no immediate confirmation from Saudi Arabian authorities tonight but the Houthis' military spokesman said the attack was launched 72 hours ago and supported by the group's drone, missile and air defence units. But if the claims are true, the attack could prove one of the most significant events in the Middle East in recent years. It comes as a brutal civil war rages in Yemen and has claimed more than 16,000 lives and left 13million people on the brink of starvation. The conflict has been dubbed a "proxy war" among competing powers in the Middle East as a US-backed Saudi-led coalition battles rebels backed by Iran. | stonedyou | |
28/9/2019 07:44 | Appears to have gone up 3.37% on JSE, why is it down here? | ntv | |
27/9/2019 17:05 | Closing price is consistently not matching the JSE equivalent - not a new problem though. Closed here 11.2p - should be 11.5p. | justiceforthemany | |
25/9/2019 10:37 | gold price back to over R730k per kilo Last time time it was at this price PAF share price was about 13.75p Just shows nobody wants to buy anything | ntv | |
24/9/2019 20:55 | Gold price in SA Rand = 22,764 +81 +0.36% Gold price in US dollars = 1,531 +7.4 +0.49% If the gold price stays like this then expect PAF share increase of 0.20p to 0.40p To get back over 14p per PAF share price we need a SA Rand price for gold in excess of 23,500 ZAR per Oz | macthepak | |
24/9/2019 20:23 | Interesting..... (Kitco News) - Gold’s next upside target is $1,600 an ounce, according to analysts who are confident that the gold rally is not over due to unresolved U.S.-China trade talks, weak global growth and dovish Federal Reserve expectations. Gold prices made another solid advance on Tuesday, rising above $1,540 an ounce after erasing all daily losses from earlier in the session. December Comex gold futures were last at $1,535.40, up 0.25% on the day. Traders were busy digesting U.S. President Donald Trump’s hawkish speech to the United Nations in New York on Tuesday afternoon, in which Trump said that “the future does not belong to globalists, the future belongs to patriots.” Gold benefitted from Trump’s comments in regards to China and Iran with prices beginning to rise during the speech. “Harsh language from President Trump toward China and Iran prompted a sell-off in the U.S. stock market, the U.S. dollar index and crude oil. That, in turn, prompted some buying interest in safe-haven gold,” Kitco’s senior technical analyst said in his gold update. The next major level gold could hit is $1,600 an ounce, according to TD Securities and Scotiabank. After a short-term pause, gold will be ready to rise again, which is why the yellow metal is “still a buy,” TD Securities head of global strategy Bart Melek wrote on Monday. “While we think the gold market pauses for a while, the gold rally should continue to take prices into the $1,600s. Weakness in Europe and China will likely force Fed Chair Powell to deliver a substantial policy easing,” Melek said. Markets are currently pricing in a 64.1% chance of another 25-basis-point rate cut by the Federal Reserve in October, according to CME FedWatch Tool, which is a bullish scenario for gold. Fed’s liquidity injections this September are encouraging some gold bulls to expect further quantitative easing from the U.S. central bank, added Melek. “The short-term lending system has come under pressure last week with the Federal Reserve forced to intervene with liquidity injections for the first time in a decade … The Fed inject[ed] over just over $340 billion worth of liquidity into the market with a promise of more, should also help to keep gold bid. On Friday, the New York Fed announced that it would continue to offer $75 billion in daily repo transactions through October 10 and offer two-week repo trades as well,” he said. “Some gold observers see this as a sign of instability and a signal that the U.S. central bank will need to continue to provide liquidity, if not de-facto QE.” Increased geopolitical tensions will continue to support gold this fall, said Scotiabank in its latest precious metals update. “Gold saturation certainly poses some short-term downside risk, but a structural driver (geopolitical escalation) has been renewed which puts the target back on $1,600 gold (> $20 silver),” wrote Scotiabank commodity strategist Nicky Shiels. | stonedyou |
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