Pan African Resources Share Discussion Threads

[bluemango] 12/8/2022 08:58

AF004

Basically whether it's in an ISA or SIPP or wherever, it's 20% Withholding tax taken off. This is because it's South Africa and providers like HL say it's too few holdings affected for them to accommodate and set the correct 'double taxation' rate of 10% instead. I raised a complaint with HL and took it to the highest level I could, to no avail. You might be lucky and find a provider that deals with it correctly, but you'd be in the minority if you did.

Note this is different from stocks subject to US withholding tax which is generally dealt with correctly if you fill in the W8Ben form.

[af004] 12/8/2022 08:43

I've held these for 10 + years and still not managed to sort the double dividend issue.Anyone kind enough to provide an idiot guide to sorting for isa and sipp?

[stonedyou] 10/8/2022 09:22

CHRISTOPHER STEVENS reviews last night's TV: Digital gold rush and why it's even

easier to part a fool and his money.

By CHRISTOPHER STEVENS FOR THE DAILY MAIL.



Cryptocurrency: Has The Bubble Burst?

Rating:

Secrets Of The Spies

Rating:


"Some might wonder whether invisible banknotes invented by a ratcatcher are a safe investment."


Why isn't this stuff taught in schools? Why, instead of those tangents and cosines, don't children learn every get-rich-quick scheme in history was a con-trick?

The answer is that half the class would take the teacher's warning as further proof that 'the Government' is lying to them and 'Boris Johnson' wants them to be poor.

Social media has addled the brains of a generation, as gullible presenter Ade Adepitan was all too eager to demonstrate in Cryptocurrency: Has The Bubble Burst? (C4).

Ade greedily threw his own money into delusionary internet scams including Bitcoin and Ethereum, the made-up money markets.

He did this despite an explicit warning from a former City trader that Bitcoin, which is not legal tender in the UK, was 'a pyramid scheme — it's fool's gold and it's dangerous'.


This man spent his career in the financial sector. But Ade preferred to listen to a 23-year-old rapper with no financial experience, who rattled off lyrics about how wealthy he was going to be.

A bloke who ran a pest control business extolled the reliability of an electronic currency he set up online himself, called Koda. It's one of an estimated 18,000 e-coins worldwide, the internet equivalent of Monopoly money.

Some might wonder whether invisible banknotes invented by a ratcatcher are a safe investment. Not Ade. He was dreaming of the profits he'd make in this digital gold rush.

The pity of it is that history books are littered with similar financial hallucinations. Most get forgotten. Around 1720, for instance, a Scottish chancer called John Law bankrupted the French aristocracy with a fake scheme selling shares in trade with America's deep South — the Mississippi Scheme.

Law was besieged by French noblewomen, desperate to be permitted to invest. One had her footmen overturn her carriage in the street to get his attention.

But Ade's investigations didn't include any history. All his attention was on a man in a Lamborghini, who claimed to have made so much money speculating in cryptocurrencies that he now regarded a £1 million investment not as gambling but as a philosophical experiment. Yeah, right.

More confidence tricks with international implications were revealed in Secrets Of The Spies (ITV), a lightweight but amusing browse through the annals of espionage.

[af004] 09/8/2022 09:45

Odd days trading so far?

[stonedyou] 04/8/2022 21:47

Perth Mint physical sales rebound strongly in July.


The Perth Mint sold 79,305 troy ounces (oz) of gold and 2,465,513oz of silver in minted product form during July.

The Perth Mint Depository’s total gold holdings decreased slightly by -0.14%; silver declined by just -0.1% during the month.

Holdings in The Perth Mint listed ETF, ASX:PMGOLD decreased for the month by -1.54%.


Gold and silver prices experienced similar trading patterns in July with substantial declines followed by healthy retracements.

Starting the month at USD 1,807/oz, gold failed to find any traction as it slipped to USD 1,697/oz by 21 July, its lowest level in 15 months. With a falling dollar and lower yields, however, gold’s comeback was marked by a 50% retracement to USD 1,753 at month’s end (-3.08%).

Gold in Australian dollars traded in a similar pattern with the price finishing July at just above AUD 2,512 (-4.92%).

Silver faced a similar mid-month struggle. Starting the month just above USD 20.24 before retreating, it ended July impressively having recouped 100% of its decline and more (+0.36%).

The gold silver ratio ended July at just under 87.

Minted products

The Perth Mint sold 79,305oz of gold and 2,465,513oz of silver in minted product form during July.

The table below highlights how these numbers compare to sales seen one month, three months and one year ago, and against monthly average sales dating back to mid-2012.

CURRENT MONTH SALES OF GOLD AND SILVER SOLD AS COINS AND MINTED BARS (TROY OUNCES) AND CHANGE (%) RELATIVE TO PRIOR PERIODS TROY OUNCES OF GOLD AND SILVER SOLD AS COINS AND MINTED BARS

[stonedyou] 04/8/2022 21:34

Mongolia's central bank purchases 9.7 tons of gold.

ULAN BATOR, Aug. 3 (Xinhua) -- Mongolia's central bank said Wednesday that it purchased a total of 9.7 tons of gold from legal entities and individuals in the first seven months of this year.

As of July, the bank's average gold purchase price had been 185,224.93 Mongolian tugriks (58 U.S. dollars) per gram, the Bank of Mongolia said in a statement.

Purchasing gold is one of the key ways for the central bank to ensure the country's economic stability by consistently increasing foreign currency reserves, said the bank.

Due to the COVID-19 pandemic and the Ukraine crisis, Mongolia's forex reserves fell to 2.8 billion dollars in July, down by 1.7 billion dollars from the beginning of this year, according to the central bank.

Central banks across the world typically hold gold as part of their foreign exchange reserves.

The Mongolian central bank plans to purchase at least 24 tons of gold in 2022 to increase the country's forex reserves. ■

[stonedyou] 04/8/2022 17:12

Gold pushes sharply higher overseas on geopolitical and stagflation concerns
Frisby explains strong interest in gold from UK doctors and investment bankers

(USAGOLD – 8/4/2022) – Gold pushed sharply higher in early trading as investors put the emphasis on geopolitical and stagflation concerns and shrugged off the hawkish posturing from Fed officials over the past few days. It is up $21 at $1789. Silver is up 30¢ at $20.44. Most of this morning’s gains were posted in the overnight markets suggesting strong interest in both Asia and Europe. Dominic Frisby reports that over the past two weeks two professional groups in the United Kingdom have emerged as top buyers of gold: doctors and investment bankers.

“Investment bankers’ buying of coins and bars has increased by a – quite astounding, in my view – 59% over the past four weeks,” writes Frisby in his regular Money Week column. “I have to say, the implications of a 59% jump in investment bankers buying gold for their personal portfolios has some alarm bells ringing. What’s going on at the banks? Are there problems looming? What do they know that we don’t? Something similar was going in the lead up to the Lehman crisis.” The doctors, Frisby says, have seen the value of their retirement accounts “fall quite dramatically” in recent months and are turning to gold and silver as alternatives. His full account is highly recommended at the MoneyWeek link above.……

[stonedyou] 04/8/2022 13:33

Valuation: Up c 22% to (potentially) 65.36c/share

Pan African is cheap relative to both its historical trading record and its peers. Our core valuation of the company is 44.67c/share (37.18p/share), based on projects either sanctioned or already in production, including Mogale. However, this rises by a further 15.67–20.69c (13.04–17.22p) once other assets (eg Egoli) are also taken into account. Alternatively, if Pan African’s historical average price to normalised EPS ratio of 8.9x in the period FY10–21 is applied to our FY22 and FY23 forecasts, it implies a share price of 37.83p in FY22, followed by 40.78p in FY23. In the meantime, it remains cheaper than its principal London- and JSE-listed peers on at least 69% of commonly used valuation measures.

[stonedyou] 04/8/2022 13:32

Upside and optionality

As far as investors are concerned, Mogale is potentially another Elikhulu for Pan African. As such, PAF is in a position to acquire for US$2.55/oz (for Mogale alone) an asset that should be worth US$9.88/oz in-situ, could be worth US$53.11/oz (pre-development) and may be worth up to US$94.09/oz, post-initial capex and debt repayment. Additional valuation optionality (potentially of the same order of magnitude – ie 2.26c/share) is then provided by the other half of the resource to be acquired (MSC) for which there is currently no immediate development plan.

[stonedyou] 04/8/2022 13:32

Adding value and enhancing EPS

At Edison’s long-term gold prices and prevailing forex rates, we estimate that Mogale has the potential to add an immediate 2.26c to our valuation of Pan African (post-tax and net of acquisition costs) and to enhance its earnings per share by an average 1.76 US cents per share in FY25–29 and by an average 0.45 US cents per share in FY30–34.

[stonedyou] 04/8/2022 13:32

On 30 June 2022, Pan African announced that it had successfully completed a

definitive feasibility study (DFS) on the Mogale assets that it is in the process of

acquiring. Highlights from the DFS were that the project has the potential to

increase the group’s gold production by c 50koz pa (or c 25% of current group

production) over a 13-year life at a capital cost of ZAR2.5bn (US$157.8m) and an all-

in sustaining cost US$914/oz, to result in a pre-tax project NPV9.5 of ZAR1,006m

(US$64.9m, or 3.3c or 2.8p per share) and a real internal rate of return of 20.1% at

a gold price of US$1,750/oz and a forex rate of ZAR15.50/US$. We have now

incorporated the results of the DFS into our model, as well as updating our

forecasts to reflect recent moves in the gold price and forex rates (only).

[doneinthree] 28/7/2022 21:14

Crypto is the way forward at the moment.Gold being manipulated.JPMorgan
Read Andrew Maguire on Wikipedia.

[cinoib] 28/7/2022 19:28

Ntv, yes I reduced a while ago to just over 1/2. and my portfolio only shows red ink as well so join the club, but as you say no others are doing any better, but I do think Aaz has bottomed out so might see a slow steady rise from here. Gold appears to be turning a corner so if is still green at open tomorrow might take a long see if I can make a couple of quick quid.

[ntv] 26/7/2022 18:20

Cinoib
Still holding here though not as many as before
My other gold shares have not done very well either
ALTN,CMCL,GDP
Been a drag on the portfolio for over a year now
Patience is the name of the game

[lovewinshatelosses] 25/7/2022 19:20

Am I having a blond moment? I keep checking that holding RNS from this evening and it suggests a major holder has increased their position here the other day - but the last one they issued had them as a bigger percentage holder than now?!
So, unless I have misunderstood (entirely possible!), did they reduce at some point without providing notification? A typo perhaps?

[cinoib] 22/7/2022 15:17

$60 turn around in 24 hours hope that is the start of something good.

[cinoib] 21/7/2022 18:55

Ntv, so sit tight as at least the div will make it worth the wat untill gold does recover. Have never been a fan of buyback as none of the companies I have been in or followed have made any difference after a buyback. I'm well down across the board just now like many others. Only my Nano is holding my head up and only just. GOLD will have its day as you can't keep printing $ at this rate and not pay the piper at some point.

[lovewinshatelosses] 21/7/2022 13:40

Back in for a few. Too early no doubt, but I like this company and did not want to wait any longer trying to time it too closely and perhaps end up missing the boat. GLA.