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PAF Pan African Resources Plc

20.70
0.00 (0.00%)
19 Mar 2024 - Closed
Delayed by 15 minutes
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
  0.00 0.00% 20.70 20.70 20.80 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Gold Ores 321.61M 60.74M 0.0317 6.53 396.72M
Pan African Resources Plc is listed in the Gold Ores sector of the London Stock Exchange with ticker PAF. The last closing price for Pan African Resources was 20.70p. Over the last year, Pan African Resources shares have traded in a share price range of 11.92p to 22.30p.

Pan African Resources currently has 1,916,503,988 shares in issue. The market capitalisation of Pan African Resources is £396.72 million. Pan African Resources has a price to earnings ratio (PE ratio) of 6.53.

Pan African Resources Share Discussion Threads

Showing 10976 to 10994 of 14975 messages
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DateSubjectAuthorDiscuss
09/10/2019
06:58
your profit figures are way overboard and will not be be met in any way shape or form at current gold prices
ntv
08/10/2019
16:11
Closed 8% up. Has the tide turned?
justiceforthemany
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”.

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
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