Pan African Resources Share Discussion Threads

[lurker5] 14/9/2022 09:45

It may be more in sterling. Fair enough. But progress is really measured in zar.

[lurker5] 14/9/2022 08:54

As I read it the final div is the same (in zar) as last year. If so would be disappointing in face of the strong cash flow.

[justiceforthemany] 14/9/2022 07:58

Amazing results. Debt almost wiped out. P/E just 5 with further growth to come. Hefty final dividend to boot. Share price should be double current.

[stonedyou] 14/9/2022 07:55

ADR ticker code: PAFRY

("Pan African" or the "Company" or the "Group")

(Key features are reported in United States (US) dollar (US$) and South African
rand (ZAR))

Provisional summarised audited results for the year ended 30 June 2022 - SHORT
FORM ANNOUNCEMENT

HIGHLIGHTS

* Excellent safety record maintained
* Record gold production, with production increasing by 1.9% to 205,688oz
(2021: 201,777oz)
* All-in sustaining costs (AISCAPM) for the financial year ended 30 June 2022
(current financial year) of US$1,284/oz (US$1,261/oz), a marginal increase
of 1.8% when compared to the financial year ended 30 June 2021 (previous
financial year)
* When higher cost operations are excluded, the AISCAPM for 87% of the
Group's gold production was US$1,145/oz
* Net cash from operating activities increased by 45.1% to US$110.0 million
(2021: US$75.8 million)
* Profit after tax of US$75.0 million (2021: US$74.7 million) and headline
earnings of US$75.6 million (2021: US$74.7 million)
* Earnings per share (EPS) increased to US 3.90 cents per share (2021: US
3.87 cents per share) and headline earnings per share (HEPSAPM) increased
to US 3.93 cents per share (2021: US 3.87 cents per share)
* Net debt reduced by 66.7% to US$13.0 million (2021: US$39.0 million)
* Final dividend of ZA 18.00000 cents per share or US 1.04046 cents per share
at the prevailing exchange rate, proposed for approval at the upcoming
Annual General Meeting (AGM)
* Evander Mines' underground life-of-mine (LoM) extended to 14 years, with
increased expected gold production and development capital internally
funded
* Transaction to acquire Mintails tailings retreatment assets expected to be
concluded by 30 September 2022
* First phase of share buy-back programme of US$3.2 million (2021: US$ 0
million) completed
* 9.9MW solar photovoltaic (PV) renewable energy plant at Evander fully
commissioned
* First commercial harvest at Barberton's Blueberry project in progress

[lovewinshatelosses] 13/9/2022 20:16

Big volume here today. Those fairly hefty sells were eye-catching. Looking to see if we revisit 17's on no news. Tempting if we do....

[cinoib] 12/9/2022 13:18

I would expect to see results sometime this week as just looked and were out on the 15th this, last year.

[stonedyou] 10/9/2022 21:22

Alasdair Macleod:

Get ready for food shortages and a big short squeeze in the gold and silver markets.

September 10 (King World News) – Alasdair Macleod: “The rise that we have seen in commodities, which has been corrected over the last two months, that rise is going to continue into the winter months. And we will find that there will be people cold throughout Europe in the winter, and there will be food shortages. … and there are something like 140,000 contracts short in the speculator category in the gold market. They’re going to get squeezed and they are going to get squeezed very hard. If you look at the position in silver, the managed money group are net short of silver contracts on COMEX. This is very rare, and every time it happens you get a wonderful bear squeeze. So what I would say, Eric…to continue listening to Alasdair Macleod discuss chaos he expects to see in the global markets as well as the big short squeeze he expects to take place in the gold and silver markets CLICK HERE OR ON THE IMAGE BELOW.

[lovewinshatelosses] 09/9/2022 11:06

I agree with that first statement, but the jury is still out on the second one. It should be clear what I want to see, needless to say!

[doneinthree] 09/9/2022 10:44

You've got to treat gold as a currency and not an investment.
The gold standard will return ahead of the dollar

[lovewinshatelosses] 08/9/2022 12:52

This is the problem - IMO it seems that gold (and the PM market more generally) has become a battleground between the West (generally, with a couple of exceptions like Poland perhaps) and much of the rest of the world. One is loading up and one is making every effort to suppress the price. With some success to date, it cannot be denied. We PI's are tadpoles in an ocean. We need the premise of sound money to return to mainstream western ideology. If it does and IMO gold is the obvious candidate to underpin this, as it has been for thousands of years, then we shareholders of PM miners will hopefully be rewarded eventually. However, I think we have a lot more pain to endure before that day comes, if it ever does.

[cinoib] 08/9/2022 12:08

Lovewin, yes the slush fun and the low fine for getting caught you have it. Gold should be nearer $3,000 by now and still rising with inflation the way it has always happens with high inflation, but the thieves prefer low gold,(fools) so they keep the printing presses rolling. 1 day when the buyers of this imaginary gold ask for delivery, that's when the chickens will come home to roost.

[stonedyou] 07/9/2022 19:38

WHEN REAL RATES HAVE BEEN THIS HIGH, THE WINNER IS GOLD.

Atlas Pulse Gold Report; Issue 75.

Charlie Morris.


September 7, 2022.


The risk facing gold is marginal compared to the risk facing US equities, and it is hard to see a scenario where gold doesn’t win.


Highlights

Regime Checking in on the bull market.

Macro Inflation cools, but when will the dollar?

Valuation A modest 9% premium for a high quality asset.

Flows Investors sell gold, central banks buy it.


REGIME - GOLD BULL MARKET
At times like these, best to check in. Historically gold has been a buy when two or more of the following have held true:

Short-term real interest rates are below 1.8%. TRUE

1.The gold price, measured in a basket of currencies is rising, measured by a 35-month exponential moving average. TRUE

2.The gold price relative to the S&P 500, measured by a 35-month exponential. CLOSE

3.The first rule is well in the money as the current real interest rate (Fed interest rate 3% less last CPI 8.5%) is deeply negative. Historically a reading below 1.8% has tended to be onside for the gold price.



Source: Bloomberg

But that is backward looking. It matters more where interest rates and inflation will be in the future, rather than where they are today or have been in the past. On that basis, looking just two years ahead, we never saw real rates at -9% or even -6%, but at -3% (black line, below). That forward-looking number has already surged to +1.2%, which is where things have broken in the past.

[stonedyou] 07/9/2022 08:26

The last question is why would the U.S. government have any incentive to suppress gold (and silver) prices. This answer is easy. The price of gold, and to a lesser degree silver, is effectively a report card on the U.S. dollar, economy and government. If gold’s price is rising, people are less inclined to hold paper assets like stocks, bonds and U.S. dollars. If people don’t want to hold U.S. dollars, the federal government would be forced to pay a higher interest rate to finance its debt and liabilities. With the U.S. government owing around $30 trillion in debt, another $2 trillion in accounts payable and at least $100 trillion in the net present value of unfunded liabilities for Social Security, Medicare and related programs, an increase of just 1 percent in the interest rate paid by the U.S. government would add another $1.3 trillion to the annual budget deficit.


In effect, the U.S. government would incur the greatest financial losses of any entity – government, business, or personal – if the price of gold were to rise.

So, there you have it. The opportunity is there to manipulate the price of gold. The U.S. government also has the legal authority, the means and the motive to do so, plus an extensive track record of having done so in the past.

Should you wish to review even more documentation on the U.S. government’s manipulation of gold’s price, a good source would be the Gold Anti-Trust Action Committee, especially the compilation by Chris Powell.

[stonedyou] 06/9/2022 18:55

"The specific questions that GATA has raised and that have been deflected by central banks are posted at our Internet site and remain available to any serious financial journalist or gold investor:



As long as central banks refuse to answer some basic questions about their involvement in the gold market, it must be concluded that they have much to hide.

Why does all this matter? How and when will it end?

It matters because the rigging of the gold market is the rigging that facilitates the rigging of all markets -- part of a much broader scheme by which a secretive and unelected elite in the United States controls the value of all capital, labor, goods, and services in the world -- controls the value of everything and impairs or destroys all markets everywhere and thus hinders humanity's progress.

This is an utterly totalitarian and parasitic system. It is also just the latest manifestation of the everlasting war of the financial class against the producing class, only it is hidden well enough that the producing class hasn't yet figured it out.

This system may end in various ways.

First it's a question of world politics at the highest levels.

The system may end at the insistence of the developing world with an official worldwide revaluation of gold and gold's formal restoration to the international monetary system.

Or the system may end when one country pulls the plug on it, exchanging U.S. government bonds for more gold than is available.

Or the system may end as part of a plan by central banks to avert the catastrophic debt deflation that now threatens the world.

For example, a 2006 study by the Scottish economist Peter Millar concluded that to avert such a catastrophic debt deflation, central banks would need to raise the gold price by a factor of seven to 20 times in order to reliquefy themselves and devalue their currencies and society's debts generally:



In May 2012 the U.S. economists and investment fund managers Lee Quaintance and Paul Brodsky published a report speculating that central banks likely are already redistributing gold reserves among themselves in preparation for just such an upward revaluation of gold and gold's return as formal backing for currencies:



Or the system may end chaotically as the London Gold Pool ended in 1968 when the gold the Western central banks were prepared to lose simply ran out even as those central banks were not yet ready with an alternative gold price control system.

That's why the system's end is also an arithmetical question, a question of how much real gold is left among the central banks in the price suppression scheme. Some metal is always draining away to support the gold derivatives system, and it seems lately that more is draining away every year than is being mined. How much do the gold-suppressing central banks really still have left? How much is gone through swaps and leases? They're not telling.

The system's end is a question of education and publicity, a question of whether central banks that are not part of the gold price suppression scheme and investors alike will ever realize that as much as 90 percent of the world's investment gold, supposedly being held in trust for its owners, may not exist. If there is ever such a realization and delivery is demanded, gold will rise to multiples of its current price.

While that prospect excites gold investors, will governments let them keep the resulting extraordinary gains, or will governments impose windfall profits taxes or even try to confiscate gold?

If the gold price soars, will governments let mining companies keep taking metal out of the ground at current royalty rates? Will governments even let private companies keep mining gold at all?

On the other hand, if there is no general realization of the fraud of "paper gold," gold price suppression and the destruction of markets generally may go on forever.

Central banks are formidable enemies because of their power to create infinite money and debt. But that power is not their biggest advantage in the gold suppression scheme and the scheme to defeat markets generally.

For the scheme cannot work without deception, surreptitiousness, and misunderstanding.

And therefore to be overthrown the scheme needs only to be exposed, since when people realize that a market is rigged, they will not take the losing side of the trade.

That's why the biggest advantage of central banks here is not their power of money and debt creation but rather the complicity of the financial news media and the gold mining industry itself.

Financial journalists -- so far at least -- won't press the vital questions, will never put a critical question to a central bank and report the inadequate answers.

And the gold mining industry, seemingly unaware of the monetary nature of its product and the way the price of its product is suppressed, will not yet do anything to defend itself.

Will that ever change? Well, GATA is working on it.

Until that changes, and as long as a piece of paper is considered as good as a piece of metal, the gold mining industry has no future. And until free markets are restored, humanity itself won't have much of a future either.

* * *

If you'd like more information about this issue or can't locate one of the documents I've mentioned, please e-mail me at [e-mail]. I'll be glad to try to help.

Thanks for your kind attention today."

[lovewinshatelosses] 05/9/2022 09:58

Looks like I was right to be bearish on PM's in the short term and wrong to buy back in here so early! Oh well, as long as the management team continue to deliver as they have done to date, then hopefully it will not be too long before we head back up, let alone approach close to fair value (which we know is a good deal more than 20p!) GLA.

[lovewinshatelosses] 01/9/2022 16:56

I assume that large 18p trade was a buy. I think someone is building a position here, even though we seem to have had some slight downward pressure the past few days. Revisited the fundamentals earlier. Have to agree with stockopedia on this occasion, which describes this as a 'super stock'. Hard to disagree.....and now watch something terrible happen to make me eat those words :)

[lovewinshatelosses] 31/8/2022 20:25

Sorry, Cinoib, I do not follow your meaning. Thief of what?!
Anyway, took a small nibble here again late afternoon. SA is always a geopolitical (and IMO growing) risk, but apart from that, I cannot fault the managers, or their handling of the excellent assets to date. Furthermore and also IMO, as good a takeover prospect as any within this space. GLA.

[cinoib] 31/8/2022 17:03

Lovewin, yes saw that, how can you be such a blatant thief as that giving a 550 thousand million slush fund to keep gold down. Now we know the yanks are a bunch of crooks as have always said.. Yes best run goldie on the market as far as I can see.