Pan African Resources Share Discussion Threads

[lovewinshatelosses] 22/6/2022 21:07

I wonder if the growing issues in SA are responsible for the share price decline? Obviously everywhere is struggling with inflation and supply chain issues etc, but Africa (even SA) is particularly vulnerable to this at the moment I think.
Or it could be the Russia situation (SA position on that war to date) and the potential new fragmentation/order that seems to be gathering pace? BRICs plus SA versus the west?
One thing is for sure IMO: the next few years are going to be a real grind, even if a few really good investment opportunities will come to pass during this period.
Ah well. Control what you can I guess. GLA.

[stonedyou] 16/6/2022 21:00

Gold imports surge in May on revenge buying.

However, trade sources and economists expect demand to rationalise amid high inflation. By quantity also, imports in May are estimated at 100-plus tonnes as against 28.5 tonnes in April.



MUMBAI: Gold imports jumped to over $6 bn in May from around $1.7bn a month ago as consumers splurged on Akshay Tritiya after the Covid imposed lockdown in 2021 and 2020 threw a wet blanket over the previous occasions. A drop in price from over $1935 an ounce in April to around $1845 also spurred the revenge buying.

However, trade sources and economists expect demand to rationalise amid high inflation. By quantity also, imports in May are estimated at 100-plus tonnes as against 28.5 tonnes in April. The preceding month saw elevated prices crimping demand because of the war in Europe.

Dealers offered gold at a discount to the bank rate amid high prices and didn’t place many orders for import. Surendra Mehta, national secretary, India Bullion & Jewellers Association (IBJA) expects imports in FY23 to be below the previous fiscal year’s 868.5 tonnes. “High price inflation could impact gold jewellery demand as consumers would prefer to conserve cash and postpone purchases,” Mehta said.

Gold’s share in total imports for May stood at 7.72% as against 2.78% in April, which was widened the country’s merchandise trade deficit. “The mild sequential dip in non-oil exports amid a sharp jump in gold imports widened India’s merchandise trade deficit to a massive $24 billion in May 2022,” said Aditi Nayar, Chief Economist at ICRA.

“Based on the expectation that gold imports may reduce after the Akshaya Tritiya season, the trade deficit may demonstrate some moderation in the current month.” Debajit Saha, lead analyst, precious metals, Refinitiv, said, “India’s gold imports in May jumped 677% from a year ago to 104 tonnes amid price corrections.

Demand for gold increased in May owning to retail consumers’ rise in spends at jewellery shops to purchase gold (especially during Akshaya Tritiya). Also the ‘average’ price declined to $1845 an ounce in May from over $1935 in April. Dealers replenished their stocks. The demand for gold in India is expected to remain steady and drop below 750 tonnes in the current financial year.”

[stonedyou] 16/6/2022 20:57

Physical gold demand surges as financial assets bleed out.


Data from the US Mint shows that demand for physical gold has surged since 2020.

Record high inflation and the blood bath in financial assets is severely denting purchasing power.

Paper gold prices have outperformed the majority of other commonly held financial assets in 2022.



The confluence of several less-than-once-in-a-generation factors has dragged financial markets down throughout 2022.

For those still weighing whether we are in a bear market or not, Vijay L Bhambwani, a currencies and commodities expert, points out that for traders, “long positions have been bleeding” and “resulting in margin calls week-on-week for months”.

The coronavirus, prolonged lockdowns, supply chain upheaval, the Russia-Ukraine war, and the Fed’s new-found decisive hawkishness, have left households more vulnerable than ever and animal spirits languishing.

Nearly every asset owned by the ‘general public’ has eroded deeply this year, including the fresh and exotic faces of the store of value – cryptocurrencies.

With a record high retail inflation in the US last week, hopes of easing inflationary pressures were dashed, resulting in a historic rate hike of 75 bps by the Federal Reserve.

Markets rallied on the Fed’s re-established credibility, but it was to be short-lived. At the start of the business day, US markets returned a chunk of yesterday’s gains as fears of a recession took center stage again, blunting the Fed’s most powerful move in nearly three decades.

In the CPI data, essentials including food, fuel, and rent were at multi-decade highs, crushing household budgets. With OPEC+ members failing to meet their quotas and refining capacities being in short supply, gasoline prices in the US have spiked too, reminiscent of the early 1970s.

Food-at-home costs increased to 11.9% year-on-year, the highest since April of 1979.

In the seventies and eighties, US consumer price inflation breached 8% on two separate occasions. First, from 1973 to 1975, retail inflation stayed above 8% for 23 consecutive months. In the second case, between 1978 and 1982, this lasted a mammoth 41 consecutive months.

With no sign of inflationary pressures easing, households may have to accept the possibility of an extended period of financial hardship and steep declines in purchasing power.

[cinoib] 16/6/2022 16:41

2.5 mill buy at close at 19.9 very nice.

[stonedyou] 14/6/2022 07:14

Yep,

[(22793.9 - 68500) / 68500] × 100% = -66.72423%

[divmad] 14/6/2022 07:09

% changes are always based on the starting figure.

[divmad] 14/6/2022 07:08

Should be (68500-22849)/68500 expressed as a %

[stonedyou] 14/6/2022 06:30

Bank of England's Bailey repeats dire crypto warning: Be prepared to lose all your money.


Bank of England (BoE) governor Andrew Bailey has warned crypto investors they could lose all their money as he said unbacked crypto assets have no intrinsic value.

"If you want to invest in these assets, okay, but be prepared to lose all your money," Bailey told the the public accounts committee (PAC) on Monday.

He added: "People may still want to buy them because they have extrinsic value ... people value things for personal reasons. But they don't have intrinsic value.

"This morning we have seen another blow-up in a crypto exchange."

Speaking to MPs on the committee, he also said artificial intelligence tools (AI) could potentially be a means to create automatic controls on suspicious cryptocurrencies. Bailey said that there are a lot of bad actors in crypto world and AI could be harnessed to automatically weed them out instantaneously.

Bailey's comments came as bitcoin and other cryptocurrencies are collapsing in price after Binance temporarily halted all withdrawals, citing "extreme market conditions".

The world's largest crypto token bitcoin (BTC-USD) hit an 18-month low, tumbling as much as 17% in under 24 hours to $22,603 (£18,540), and is down more than 49% this year.

The second-largest crypto, ether (ETH-USD) was down 17% to $1,213, its lowest level since February last year.

[divmad] 14/6/2022 06:16

I suggest you re-learn your maths.

[stonedyou] 13/6/2022 20:55

Bitcoin Month-To-Date Outflows Total $91M.


Bitcoin remains plagued with a negative market sentiment as shown by recent indicators, including massive month-to-date outflows of $91m in just thirteen days with the outflows of the past week totaling around $57m.


These outflows are not peculiar to Bitcoin

The recent outflows in the market have not been exclusive to Bitcoin as the second largest crypto asset by market cap, Ethereum, has as well been hit with the current crypto winter, seeing outflows totalling $40.7m in the past week with a $72.3m month-to-date outflow.

Additionally, the total outflows from investment products involving virtual assets in general have gotten to $101.5m in the past week. Blockchain equities, also, have seen a total outflow of $5M within the same period.


It’s been a rocky journey for crypto investors the past month as virtually all digital assets have been hit with the ongoing bear market. This has led to sudden capitulations and liquidations. Over $520m was liquidated from the market as BTC traded below $24k for the first time since December, 2020.

[stonedyou] 08/6/2022 13:03

This Data Point Says Gold Prices Are Set to Explode.



GoldSilver (w/ Mike Maloney)

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Join Mike Maloney and Ronnie Stoeferle as they dive into the latest charts from the In Gold We Trust Report. In Part 1 of this series, you’ll see Mike single out a specific data point that shows the immense potential for gold prices to move higher. Part 2 coming soon. Thanks for sharing and clicking that 'Like' button. For those wondering why our videos don't appear in their subscription feed immediately - we release our clips to our free weekly email readers first, then later we publish to YouTube. Sometimes it's just hours, sometimes it's a couple of days later. This is to encourage people to join our free newsletter - because one day, we may not have YouTube to rely on. Join our free newsletter list by going to and entering your email address in the 'Get Market Alerts' box at the bottom of the page. As always, thank you for your support. M.

[stonedyou] 06/6/2022 22:46

India’s May gold imports surge 677% to $5.83 billion.


Demand for gold was improved last month due to wedding season
India's gold imports in May jumped 677 per cent from a year ago to the highest level in a year as correction in prices just before a key festival and wedding season boosted retail jewellery purchases, a government source said on Monday.

Higher imports by the world's second-biggest bullion consumer could support benchmark gold prices, but the surge could increase India's trade deficit and put pressure on ailing rupee.

India imported 101 tonnes of gold in May, compared to 13 tonnes a year earlier, the source said on Monday on condition of anonymity as he is not authorised to speak to media.

In value terms, May imports surged to $5.83 billion from $678 million a year ago, he said.

"Retail consumers were waiting for price correction. As prices corrected during Akshaya Tritiya festival, they rushed to jewellery shops," said Harshad Ajmera, the proprietor of JJ Gold House, a wholesaler in the eastern Indian city of Kolkata.

Buying gold is considered auspicious during the annual Hindu and Jain festival, celebrated in the first week of May.

Local gold futures fell to 49,572 rupees per 10 grams in May, the lowest in nearly three months.

Demand for gold was also improved last month because of wedding season as lots of weddings were postponed to 2022 from the last year because of restrictions imposed to curb the spread of Covid-19 infections, said a Mumbai-based dealer with a private bullion importing bank.

Gold is an essential part of the bride's dowry in India and also a popular gift from family and guests at weddings.

India's gold imports in June could fall below 60 tonnes as demand has started to falter due to the recent rebound in prices, the dealer said.

[stonedyou] 06/6/2022 08:52

Czech Central Bank Plans Tenfold Increase in Gold Holdings, New Governor Says Precious Metal 'Good for Diversification'.


The incoming governor of the Czech National Bank (CNB), Aleš Michl, has said he plans to increase the institution’s gold holdings almost tenfold from the current 11 tonnes to 100 tonnes. Michl also said he will ask the bank’s foreign exchange reserves management team to invest in stocks.

Growing the CNB’s Shareholding
The incoming governor of the Czech National Bank (CNB), Aleš Michl, has said gold is good for diversification because “it has zero correlation with stocks.” Therefore, under his stewardship, the CNB hopes to increase its holdings of the commodity from the current 11 tonnes to 100 tonnes or even more. However, this will be done gradually, the incoming governor said.

With this plan, which sees the bank’s gold holdings grow by almost ten times, the new CNB boss, as one report noted, is seemingly following in the footsteps of other European central banks that have either repatriated or bought more tonnes of gold. For instance, the Hungarian central bank revealed in 2018 that it had grown its gold holdings tenfold while the Polish central bank is reported to have done the same in 2019.

Meanwhile, in his remarks during a wide-ranging interview with the Czech publication Ekonom, Michl, a conservative economist, also said he will propose to increase the CNB’s shareholding in stocks from the current 16 percent of reserves to 20 percent or more. He argued that central banks in Switzerland and Israel are already doing this and so are large state sovereign wealth funds.

[bluemango] 05/6/2022 10:55

nevgroom, capitalise a couple of letters in the 'https' part of the link and it will normally post ok.

"If I had to pick somewhere to invest, I’d say the smaller producers are much more likely to receive a bid as larger players try and consolidate the sector on the cheap. Pure Gold Mining (LSE: PUR) and Pan African Resources (LSE: PAF) both appear undervalued with growth potential. Pan African also yields 5.5%"

[nevgroom] 05/6/2022 08:27

Interesting article posted by Goldenshread on the ALTN thread, PAF get a mention (don't know how to post a link!)

hxxps://moneyweek.com/investments/stocks-and-shares/share-tips/604919/gold-miners-are-snapping-each-other-up-heres-how-to