Pan African Resources Share Discussion Threads

[buffetcharliemtesque] 14/12/2022 10:18

Does anyone here understand what the "Inaugural note issuance" is all about?

The RNS link is here



and here

[kickingking] 13/12/2022 23:20

Two interesting corporate videos about the projects they are working on into 23 and beyond

[justiceforthemany] 13/12/2022 18:24

Ramaphosa cleared.

[lovewinshatelosses] 13/12/2022 17:08

Not sure I agree - the share price did just fine ex div through to March earlier this year. The geopolitical risk (SA) cannot be helped, but it does keep this stock trading at a lower P/E than would be the case if it was in north America for example. IMO POLY is the best miner in the world, but we can see the role geopolitics can play in destroying shareholder value, through no fault of a management team, or the assets they have. It is what it is.
Personally, I just want to see the BOD continue to manage costs carefully, and hopefully grow the dividend over time. I also see it as an attractive takeover target, but who knows if that will happen?

[kickingking] 13/12/2022 15:14

What PAF needs to do is pay twice a year dividend or even better a quarterly. Waiting a whole year is just too long await and stops serious money investing. With a more regular dividend, PAF would be trading north of 20p now. The way it is now, share price is closer to year low then year high. Hopefully that will change in 2023.

[king_baller] 13/12/2022 14:27

Should be a significant re-rate in PAF over the coming months. Significantly undervalued. Are there any better gold miners listed in the UK? I’ve looked through them all and don’t think so. Low cost, reliable production which is growing. Bring on 2023.

[spaceavenger] 10/12/2022 21:58

The gearing on these shares means they would go through the roof. Let's hope the hound of Dracula is correct.

[lovewinshatelosses] 08/12/2022 09:16

I heard a guest on a podcast the other day suggest that when the Russia war ends, the price of gold will rocket, because the current heavy supply of Russian gold used to pay for various things will stop. Perhaps the two concepts go hand in hand, as this would be the opposite of what is apparently currently happening? Presumably, they would rather not have to do this, so will look to replenish their gold reserves as soon as possible. Regardless, I remain bullish on gold and silver for the foreseeable future.

[justiceforthemany] 07/12/2022 22:35

If Russia accepts gold for oil, gold price doubles to $3,600, says Credit Suisse's Zoltan Pozsar

[justiceforthemany] 07/12/2022 13:58

P/E 5
Should see some support at these levels.

[lovewinshatelosses] 06/12/2022 11:59

Repurchased the tranche I sold. Looking for 19p, maybe a little more. GLA.

[stonedyou] 05/12/2022 20:39

For there are many official admissions of gold market rigging.

These include statements by four former chairmen of the U.S. Federal Reserve Board (Alan Greenspan, Paul Volcker, Arthur Burns, and William McChesney Martin); the minutes of the Federal Open Market Committee; declassified U.S. Central Intelligence Agency and State Department memoranda, including one that cites the necessity for the U.S. government to remain "the masters of gold" --

[stonedyou] 05/12/2022 20:24

Most financial journalism and most academic teaching maintain that gold is at best a quaint antique. I'm here to argue that gold not only remains money but may again be the best and most important money -- to argue that, even more than this, gold is in fact the secret knowledge of the financial universe.

Gold already is so important that Western central banks -- particularly the U.S. Treasury and its Exchange Stabilization Fund, the Federal Reserve, and allied central banks -- rig the gold market every day, even hour by hour, to control and usually suppress gold's price.

Why do Western central banks rig the gold market?

It's because gold is a powerful competitive international currency that, if allowed to function in a free market, will determine the value of other currencies, the level of interest rates, and the value of government bonds. Gold's performance is usually the opposite of the performance of government currencies and bonds. Hence central banks fight gold to defend their currencies and bonds.

The problem is that central bank tactics in this fight affect more than gold; they affect markets generally and eventually destroy markets generally. This destruction of markets now has a name, a name used even by former members of the Federal Reserve Board. That name is "financial repression."

[stonedyou] 05/12/2022 20:18

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.

[stonedyou] 05/12/2022 20:14

For there are many official admissions of gold market rigging.

These include statements by four former chairmen of the U.S. Federal Reserve Board (Alan Greenspan, Paul Volcker, Arthur Burns, and William McChesney Martin); the minutes of the Federal Open Market Committee; declassified U.S. Central Intelligence Agency and State Department memoranda, including one that cites the necessity for the U.S. government to remain "the masters of gold" --





-- statements by central bankers from other countries, including three officials of the Bank for International Settlements; and documents from the BIS and International Monetary Fund.

For example:

-- In testimony to Congress in July 1998, Federal Reserve Chairman Alan Greenspan declared that "central banks stand ready to lease gold in increasing quantities should the price rise." Thus Greenspan confirmed that the purpose of gold leasing was not what was usually claimed -- to earn central banks a little money on their supposedly dead asset in their vaults -- but rather to suppress the monetary metal's price:



-- At GATA's prodding in January 2012 former Federal Reserve Chairman Paul Volcker admitted to a financial journalist that central banks need to suppress the gold price to stabilize exchange rates at what he called a "critical point":

[stonedyou] 05/12/2022 20:06

For there are many official admissions of gold market rigging.

These include statements by four former chairmen of the U.S. Federal Reserve Board (Alan Greenspan, Paul Volcker, Arthur Burns, and William McChesney Martin); the minutes of the Federal Open Market Committee; declassified U.S. Central Intelligence Agency and State Department memoranda, including one that cites the necessity for the U.S. government to remain "the masters of gold" --

a href='http://www.zerohedge.com/article/declassified-state-dept-data-highlights...' target='window'http://www.zerohedge.com/article/declassified-state-dept-data-highlights...

a href='http://www.scribd.com/doc/20215562/Gold-Telegram' target='window'>http://www.scribd.com/doc/20215562/Gold-Telegram

-- statements by central bankers from other countries, including three officials of the Bank for International Settlements; and documents from the BIS and International Monetary Fund.

For example:

-- In testimony to Congress in July 1998, Federal Reserve Chairman Alan Greenspan declared that "central banks stand ready to lease gold in increasing quantities should the price rise." Thus Greenspan confirmed that the purpose of gold leasing was not what was usually claimed -- to earn central banks a little money on their supposedly dead asset in their vaults -- but rather to suppress the monetary metal's price:



-- At GATA's prodding in January 2012 former Federal Reserve Chairman Paul Volcker admitted to a financial journalist that central banks need to suppress the gold price to stabilize exchange rates at what he called a "critical point":



Volcker already had written in his memoirs that in 1973 as a U.S. Treasury Department official he advocated gold price suppression:





-- In 2009 a remarkable 16-page memorandum was discovered in the archive of the late Federal Reserve Chairman William McChesney Martin. The memorandum is dated April 5, 1961, and is titled "U.S. Foreign Exchange Operations: Needs and Methods." The memo is a detailed plan of surreptitious intervention by the U.S. government to rig the currency and gold markets to support the U.S. dollar and to conceal, obscure, or even falsify U.S. government records and reports so that the rigging might not be discovered. This document remains on the Internet site of the Federal Reserve Bank of St. Louis:

[king_baller] 05/12/2022 14:24

I’ve been scouring for the best gold miners, and PAF is definitely up there. It hasn’t responded to the gold price rebound, and it also has the benefit of low cost production - increasingly important in a world where the diesel price is likely to rise. Low cost/risk production, low PE, high dividend. Can’t ask for much more than that.

[stonedyou] 05/12/2022 11:27

Expect a U.S. Recession That Will Ravage Markets and Could Send Stocks Spiraling Down 24% Next Year, Bank of America Says.


A recession next year will trigger a 24% sell-off in the S&P 500, Bank of America warned Wednesday.


Bank of America economists expect the US to slip into a recession in the first quarter of 2023.

That will become the dominant story for markets next year, the bank said.

The S&P 500 could plunge 24% from its current level by the end of the year, strategists warned.

Markets will be ravaged by a recession next year, with the benchmark US stock index potentially falling 24% from its current level, Bank of America has said.

The bank's base case is that the US enters a severe and sustained downturn in the first quarter of the year, when its economists expect growth to fall by 0.4%.

That would weigh on stocks, as companies would be forced to cut their earnings targets, they said in their 2023 outlook published recently.

"We think the market could drop as low as 3,000 based on a panoply of indicators, given a host of risks we face as payback continues and a recession unfolds," Savita Subramanian, the bank's head of US equity strategy, said.

Hitting that 3,000 level would represent a 24% plunge from the S&P 500's Tuesday close of 3,958.


This year, there's been a process of payback for the boost markets have had from decades of low interest rates and stimulus, both fiscal and corporate, Subramanian said.

"The bad news is, in 2023, the process of unwinding easy money could start to impact the economy," she said.

And it's not just a recession that will rattle markets next year, according to Bank of America. Rising interest rates, red-hot inflation, war in Ukraine and the environmental crisis will also carry on spooking investors.

"The biggest rate shock in history, the most aggressive hiking cycle, the biggest inflationary pressure in 40+ years, rising recession fears, wartime and ongoing geopolitical risks, urgency building around carbon emission reduction suggest macro will loom large in 2023," the team led by Subramanian said.

All these factors played a key role in the stock selloff that has seen the S&P 500 plunge 17% in 2022, they noted.


Bank of America's most likely investment outlook sees the S&P 500 creep up just 1% by the end of 2023, for a target of 4,000 points, with significant volatility coming before that point as the downturn rattles investors' confidence.

Subramanian's team expects the S&P 500 to bottom out at some point in the first half of next year, because stocks tend to trough six months before the end of a recession – which means there could be buying opportunities soon.

"The market typically bottoms six months before the end of a recession, so buy in the first half based on our economists forecast of the recession ending by the third quarter of 2023," they said.