Pan African Resources Share Discussion Threads

[chipperfrd] 03/12/2020 11:28

The board has proposed a record final dividend of ZAR 312.9 million or approximately US$18.7 million, at prevailing exchange rates, subject to approval by shareholders at the annual general meeting (AGM)

[cinoib] 03/12/2020 08:58

what divi, didn't know they were back on the divi list.

[risa5] 01/12/2020 15:54

Ex div 3/12/20 paid 15/12/20

Buyers jumping in today and tomorrow to catch the dividend.

[cinoib] 25/11/2020 16:47

Very big move up today considering gold only up $3 or so. s there something cooking in the background we don't know about yet as no news out today.

[juuunx2] 25/11/2020 16:18

You were saying

[astjgroom] 24/11/2020 12:33

The vaccine n golds gonna drag these lower. Could we touch 15p?

[davidosh] 18/11/2020 14:09

The Mello Team has created Mello Tuesday as an evening for sector and asset coverage and our very first will be dedicated to investing in GOLD.

We will look at Gold as an asset and how to invest in it covering everything from buying gold coins and bars through to stakes in gold producers paying regular dividends. We will also cover ETFs, gold indexes, gold exploration & mining companies and investment funds, featuring a number of presentations. The webinar will provide a broad range with a panel session to cover all these options and assessing the risks and opportunities now open to investors.

We have a fantastic line up for our investors to include the listed companies as follows....

Wheaton Precious Metals
Serabi Gold
Golden Prospect
Adriatic Metals

The evening will include the latest insights and analysis from investment managers, research professionals, analysts and experienced investors.



To obtain a discounted ticket for just £5 please enter the code MTGOLD

[2vdm] 16/11/2020 07:53

Reported on the AAU thread by another poster - Goldman Sachs has pinned a $2,300 per oz target on Gold for 2021, saying that its bull market is not over, according to fnlondon.com, as inflation expectations will move higher, the US$ will weaken and emerging market retail demand recovers. Compared to some forecasts, this is extremely modest but a 22% gain for the yellow metal would still be significant.

[stonedyou] 14/11/2020 08:49

CISA Not interested
FBI Not interested
What the Hell is going on in this country? Private citizens doing the hard work of protecting our rights our freedom our country and NO ONE is listening. Please share.

"Is this America or Venezuela?" I guess we'll know when the judges confirm it for us.


Read about “THE HAMMER” and “SCORECARD”: That’s the hardware and software combination used to make the “glitch’s” used to change people’s votes from Trump to Biden.



This happened in Virginia on election night in real tune. We watched as Trunp had 1.6 m and Biden had 1.2 million. They flipped,flipped back,and then flipped again.review your feed of election night.



PJ Brunet
5 days ago
Watching this feels like America got flushed down the toilet.


Rob Frei
5 days ago
Our government needs a massive purge and overhaul. Disgusting


jerry hasebroock
1 day ago
THE LARGEST MOST INCLUSIVE VOTER FRAUD ORGANIZATION IN HISTORY"
-Sleepy Joe biden.




Jim B
6 days ago
I wonder sometimes if our Overlords, on both sides of the aisle, are just trying to gaslight and demoralize us. I mean, they make things so obvious... then nothing gets done about them.




WT Keeton
6 days ago (edited)
If we Kentuckians had stood up in the face of this fraud last year, we could have stopped this then. Let's not make that mistake again!



Paul Anderson
1 day ago
If Biden wins this, our government is no longer "by the consent of the people." "We the People" will have surrendered our power to choose. This happened to a Republic before in the 1930s.

“It is the Socialism of assistance to the poorest of the poor"
Otto Dietrich, “Economic Thinking in the New Germany.” The annals of the American Academy of Political and Social Science 191 (1937): 205-218.

“We want a final end of class differences” A.H. Triumph of the will – 1934

[2vdm] 13/11/2020 07:37

Agreed hjs. 387k shares bought today and now with direct/indirect control of 3m+ shares demonstrates confidence.

[risa5] 12/11/2020 20:30

It will go ex div on Dec 3 payment on Dec 15.

[misterbluesky] 12/11/2020 15:40

When is dividend paid here?

[hjs] 12/11/2020 12:37

nice to see Directors buys in todays RNS. FD buys are a good sign imo.

[risa5] 09/11/2020 20:43

According to RNS there is a 6 months DD (plus 3 months extension) to see if the projects are feasible.

The 2 projects will have rehabilitation liabilities but it does not seem to include liability for the entire Mintails' properties environmental clean up which could be a much bigger responsibility.

3. DETAILS OF THE PROPOSED TRANSACTIONS

Key commercial terms and conditions of the Sale Agreements include the following:

The acquisition of Mogale Gold, inclusive of the assets, surface rights permits, deposition rights, mining right, water use licence, rehabilitation liabilities and shareholder loans for a cash consideration of ZAR37.5 million (approximately $2.3 million at an exchange rate of US$/ZAR:16.25);
The acquisition of MSC, inclusive of its assets, rehabilitation liabilities and shareholder loans for a cash consideration of ZAR12.5 million (approximately $0.8 million at an exchange rate of US$/ZAR:16.25);
Pan African is afforded a six-month period (with a three-month extension option) for purposes of conducting a due diligence to its sole and absolute satisfaction;
The Mogale Gold transaction is subject to an approval by the DMRE in terms of Section 11 of the South African Mineral and Petroleum Resources Development Act for the transfer of the issued share capital of Mogale Gold to Pan African; and
The Proposed Transactions are subject to other regulatory approvals typical for a transaction of this nature and of South African companies in provisional liquidation, including that the provisional liquidators of Mintails SA obtain the necessary approval from the Master of the South African High Court to implement the Proposed Transactions.
The Sale Agreements are not inter-conditional, and Pan African can accordingly acquire either Mogale Gold and/or MSC, at its sole discretion.

The Proposed Transactions are subject to the fulfilment and/or waiver, where appropriate, of the relevant conditions precedent which are to be fulfilled by no later than 5 November 2021, failing which, the Proposed Transactions will be terminated.

The effective date of the Proposed Transactions is expected to be the date by which all conditions precedent have been fulfilled.

[ntv] 09/11/2020 17:00

wow that was a lucky sell this morning!!

[coincall] 09/11/2020 11:06

Rotter

I don't suppose you have contacted Cobus first to find out the answers to your possibly unfounded concerns? Seems a bit cart before the horse?

[riverotter] 09/11/2020 10:07

Environmental liabilities could be considerable for Pan African Resources acquisition of Mintails, a few thoughts... hxxps://riverotter.co.uk/2020/11/09/more-than-meets-the-eye-to-pan-african-resources-acquisition-of-mintails/

[risa5] 06/11/2020 18:14

Pan African sets out R50m option over mothballed Mintails prospects, west of Johannesburg

PAN African Resources is to buy Mintails, a surface gold resource, if a six-month due diligence study stacks up, the company said today.

If it does, Pan African will buy two properties in Mintails for a total of R50m in cash. These are Mogale Gold and Mintails SA Soweto Cluster (MSC), situated west of Johannesburg, for which it will pay R37.5m and R12.5m respectively.

Pan African said the combined mineral resources of Mogale Gold and MSC comprised historic tailings storage facilities of an estimated 243 million tons with an in-situ grade of 0.30 grams per ton of gold for an estimated gold content of 2.36 million ounces.


Mintails was put into provisional liquidation in 2018 and comes with potentially massive rehabilitation liability of an estimated R460m. At the time of the liquidation, Mintails had only a R28m provision in its fund, according to reports.

“It gives us an option. Good gold tailings deposits are few and far between,” said Cobus Loots, CEO of Pan African. “It’s also hard to find value in the sector, but we will take six months to look at this.”

If proved viable, Pan African would have to construct processing facilities similar in scale to Elikhulu, its Mpumalanga gold tailings project which it built at a cost of R1.74bn.

The fact that Pan African is considering the project underlines its intention to grow. It announced the R1.3bn Egoli project at its Mpumalanga mine, Evander Gold, earlier this year which is forecast to take annual gold production to 250,000 oz by 2022 or 2023.

“There’s a lot to digest at the moment,” Loots said of Mintails, adding that a plant would have to be built as the existing infrastructure had been “carried away (stolen)”.

Pan African reported full-year production of about 175,000 oz whilst guidance for the current year has been put at 190,000 oz. The Egoli project, if built, would represent a 40% increase on 2019 output.

Pan African’s financial position is vastly improved over the last 18 months, partly owing to lower capex and the improvement in the rand gold price. The firm proposed a dividend payment of 14 South African cents/share in September.

As of June 30, net senior debt was 51.9% lower at some $62m. “At current gold prices we would expect to be debt-free by the end of 2021,” said Deon Louw, CFO of Pan African during an investor presentation in September.