Pan African Resources Share Discussion Threads

[hainholz1] 25/5/2021 14:01

very good Article

[stonedyou] 24/5/2021 22:45

Further pain ahead for Bitcoin as environmental groups queue up to reject cryptocurrencies.


“Bitcoin alone consumes as much electricity as a medium-sized European country,” Trinity College Dublin’s Professor Brian Lucey says.

“This is a stunning amount of electricity. It’s a dirty business – it’s a dirty currency.”



Environmental groups across the globe are lining up to disable the ability to accept donations with Bitcoin until the original cryptocurrency cleans up its act.

Ever since Elon Musk dramatically announced Tesla would no longer allow customers to pay for his vehicles in Bitcoin, the spotlight has been firmly on the crypto world’s impact on the environment.

The backlash from Musk highlighting what was already regarded as a widely known (but often overlooked) truth, however, is beginning to spread far and wide.

In the coming week, Greenpeace USA is expected to officially announce it will no longer accept charitable donations in Bitcoin. The UK arm of the world’s most recognisable environmental group is expected to follow suit, as are the rest of its branches across the world.

Greenpeace was one of the early adopters of crypto. In 2014, while much of the world had still not even heard of decentralised finance, it created a facility to make donations using BTC and regularly promoted its policy of onboarding the digital community.

However, speaking to the Financial Times, the group said: “As the amount of energy needed to run Bitcoin became clearer, the policy became no longer tenable.”
It is understood Friends of the Earth will be making a similar announcement by June, with several other high-profile organisations expected to withdraw the facility to donate BTC in the coming weeks.

The trigger point for the eco exodus was, of course, Elon Musk’s sudden backtrack on the ability to purchase Tesla cars with Bitcoin. The markets were rocked when he said: “Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at great cost to the environment.”

At the time, Bitcoin had just enjoyed an all-time high above $62,000 with virtually every crypto on the board racking up record figures. The step down in price was then further fuelled by China repeating calls it had made over four years urging businesses not to trade in cryptocurrency.

China’s grumbling may have briefly moved the spotlight away from Bitcoin’s green problems, but those concerns will be rapidly thrust under the microscope this summer as environmental groups turn on crypto.

[cinoib] 21/5/2021 19:23

rias, Yes very rare to have an rns on a Friday, Yesterday is the favoured day by most.. At least we held some of the gains today as gold fell back, although is now possertive.

[ih_228024] 21/5/2021 17:35

the Outlook


The overall outcome is that Pan African has an array of gold replacement and growth options. The company expects to produce 195,000 oz of gold for the financial year ended June, an upgrade on the previous guidance of 190,000 oz. This was owing to an improvement in the performance of 8 shaft at Evander.

[risa5] 21/5/2021 16:50

Pan African Resources to exceed original full year production guidance


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Pan African revamps capital programme after Mintails shows 533,000 oz in gold potential


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Pan African lifts full-year guidance on heels of robust operational performance

[risa5] 21/5/2021 14:08

Friday is not the best day to release a good rns not sure why it could not be released earlier in the week.

[stonedyou] 21/5/2021 14:03

Is Institutional Investment Warming to Gold Once More?


Are Big Firms Jumping Back Into Gold?


A year ago, gold prices were up 20% the first week of August. Now that prices have come down to earth, institutional money could be eyeing an opportunity.

“Gold touched a more than three-month high, buoyed by signs that money managers and exchange-traded fund investors are turning more positive on the precious metal,” a Bloomberg article published in Yahoo! Finance noted. “Hedge fund managers increased their long-only position in U.S. futures and options by 12% from a week earlier, the most since June, according to government figures on Friday. Meanwhile, data compiled by Bloomberg show ETF investors have bought bullion for the past six sessions, following months of sales.”

“Prices have rebounded from lows in March as the dollar retreated and the Federal Reserve signaled it will keep interest rates low, even with signs of rising inflation,” the article added further. “Expectations for further increases in consumer prices could start to boost demand for gold as a hedge, analysts said.”

As mentioned, traders may want to keep an eye on that 50-day moving average and whether or not it crosses up the 200-day moving average, resulting in a “golden cross.” This could confirm a breakout move to the upside.

“Following months of outflows, returning speculative interest could ultimately spark a breakout” in gold, TD Securities analysts led by Bart Melek said in a note.

[stonedyou] 21/5/2021 13:47

Pan African Resources increases production guidance as Evander volumes improve


The miner noted a significant improvement in the Evander mine’s 8 Shaft pillar as it lifted guidance to 195,000 ounces of gold for the financial year.


Pan African Resources PLC (LON:PAF) has increased its production guidance to 195,000 ounces of gold for the twelve months ending June 30.

It marks an upgrade from prior guidance of 190,000 and it comes amidst what the company described as a “robust operational performance, driven by a significant improvement in production from the Evander mine’s 8 Shaft pillar.

That part of the Evander mine has yielded some 3,400 ounces of gold per month for the past three months, the company highlighted, and it is expected to unearth a further 80,000 ounces of gold in its remaining two years of expected lifespan.

Based on current planning, the company expects total production to remain around 195,000 ounces for the 2022 financial year.

Additionally, the company highlighted that it received positive results from an independent fatal flaw analysis and subsequent concept study for the Mintails SA tailings resources, which is seen to have potential for 533,000 ounces of gold production over a 12-year project life with an all-in-sustaining-cost of around US$800 per ounce.

[cinoib] 21/5/2021 13:37

Nice update, but poor reaction from the market and gold as I write at $1886. Come on Paf get your skates on, should be around the 24/25 mark by now according to the gold price when it reach this level last year

[jimbomorry] 21/5/2021 11:53

Gold! There's Gold in them thare Hills!!! And it ain't going out of fashion ever!

[stonedyou] 21/5/2021 11:32

SocGen says bitcoin's place in a portfolio 'remains highly contested,' gold is a better stabilizer.


Analysts at Societe Generale said the risks to bitcoin "remain on the downside" and explained why the cryptocurrency isn't the same as gold.

The cryptocurrency sector has seen massive volatility recently, with the price of bitcoin plunging 30% to about $30,000 at one point before recovering to the $40,000 level.

After bitcoin’s recent plunge and subsequent partial recovery, analysts at Societe Generale argued in a recent note that questions remain around the cryptocurrency’s place in investment portfolios.

“It comes as no surprise that the place of Bitcoin in any investment portfolio remains highly contested, precisely because of its erratic price movements,” Societe Generale’s Alain Bokobza and Arthur Van Slooten wrote in a Thursday note.

On Wednesday, bitcoin dived 30% to nearly $30,000 at one point, before paring some of those losses. Other cryptocurrencies were not spared as the overall value of the crypto market dropped by hundreds of billions of dollars in a single day. Bitcoin later recovered to hover around the $40,000 level on Thursday.

Bokobza and Van Slooten argued that the risks to bitcoin “remain on the downside,” citing factors such as potential regulation ahead, which the two characterized as the “biggest threat” looming for the cryptocurrency.

The U.S. Treasury Department on Thursday announced that it’s taking steps to regulate cryptocurrency markets and transactions. China has already been cracking down on the sector since 2017.

The analysts also noted the influence of “confusing” communications from electric vehicle maker Tesla. The company previously said it would accept bitcoin as a form of payment for its cars before CEO Elon Musk tweeted last week that the firm has “suspended” vehicle purchases with the cryptocurrency over environmental concerns.

Gold: The better portfolio stabilizer
The analysts also questioned the comparisons often made between gold and bitcoin due to the gap in volatility as well as magnitude of their price movements. Some investors have argued that the cryptocurrency is a potential competitor to gold as a store of value.

Since the start of the year, spot gold has fallen about 1.2%. In a similar period, bitcoin is still up around 38% despite its recent drop.

[ih_228024] 21/5/2021 10:42

yes PAF is very good underway !!!!!!

[hjs] 21/5/2021 10:20

A very good operational update from Paf, production up 3% from previous guidance, costs under control, gold price up, new projects under control and very well managed, solar power project on track.

Despite all this good news, share price has barely moved. As mentioned earlier, for some reason, SA gold mining shares always trades at a discount, Paf is trading at a much higher discount IMO, and it will catch up after some broker notes over the week end. I am already invested in Paf.

[2vdm] 21/5/2021 09:40

A bit surprised that the share price has barely moved, given both the update and gold at circa $1876/oz. Maybe some press over the weekend

[risa5] 21/5/2021 09:25

Pan African Resources increases production guidance as Evander volumes improve

The miner noted a significant improvement in the Evander mine’s 8 Shaft pillar as it lifted guidance to 195,000 ounces of gold for the financial year.


Pan African Resources PLC (LON:PAF) has increased its production guidance to 195,000 ounces of gold for the twelve months ending June 30.

It marks an upgrade from prior guidance of 190,000 and it comes amidst what the company described as a “robust operational performance, driven by a significant improvement in production from the Evander mine’s 8 Shaft pillar.

That part of the Evander mine has yielded some 3,400 ounces of gold per month for the past three months, the company highlighted, and it is expected to unearth a further 80,000 ounces of gold in its remaining two years of expected lifespan.

Additionally, the company highlighted that it received positive results of an independent fatal flaw analysis and subsequent concept study for the Mintails SA tailings resources, which is seen to have potential for 533,000 ounces of gold production over a 12-year project life with an all-in-sustaining-cost of around US$800 per ounce.

PAF has consequently reworked its capital spending plans to move the Egoli project into a phased development – reducing upfront capital needs and therefore reducing debt requirements – and it will advance feasibility programmes for Mintails so that the definitive study is complete in the first quarter of 2022.

The company also highlighted that its solar power project on the Evander Mines site has begun, and, it is on-track for commissioning during the third quarter of 2021.

“We are pleased with the robust operational performance for the year to date, and that we again expect to exceed our original full year production guidance,” said chief executive Cobus Loots.

He added: “The successful completion of the Evander Solar Plant in the next months will pave the way for further renewable energy initiatives, so as to further reduce our carbon footprint and further increase operating margins”

www.proactiveinvestors.co.uk/companies/news/950183/pan-african-resources-increases-production-guidance-as-evander-volumes-improve-950183.html

[novicetrade68] 21/5/2021 08:39

An additional 5,000 oz expected to be produced this year, certainly lots of positives in todays' RNS.

[2vdm] 21/5/2021 08:06

Very solid update and agree Mintel look very promising with over potential 500K oz and at a recoverable rate of $800. Good control on it debt. Well done to Cobus and the BOD

[astjgroom] 21/5/2021 07:26

Finally RNS! Looks good, these guys can find gold anywhere. Shaft 8 extension, egoli slowed phased approach, mintel looking optimistic. Also they quoted after slow go on egoli: This capital expenditure reprioritisation is expected to result in improved cash returns

[stonedyou] 20/5/2021 22:30

Quote.....


"Crypto is the ultimate fiat , when you gamble by buying it or shorting it you are

relying entirely on its exchange rate value against fiat currencys , it is comical

to think that bitcoin somehow has fundamental value, its fundamental value is

zero."

[stonedyou] 20/5/2021 17:07

Gold Price to $10,000: "A Work of God, Bitcoin Still Corruptible" - Chris Mancini Doubles Down.

[jimbomorry] 20/5/2021 16:10

Still very cheap.