Pan African Resources Share Discussion Threads

[cinoib] 11/5/2023 11:37

Lovewin no didn't get out in time so sitting on a large loss and yes very hard to make a crust just now and not being a richman makes it even harder as can't afford to sit too long on anything. My first foray into this game was £140 back in 88 when Maggie privatised the electric companies. I have made a lot of cash since, but lost a lot as well, but still have my head above water. We need to see a bit of movement in the inflation and strike areas before the good, better times return as am in need of a few bob to carry out my next project. Have added the link so you can take a butchers and maybe pass around your pals see if they are interested.

[lovewinshatelosses] 10/5/2023 11:49

Did you manage to get out of ASC in time, or are you sitting tight or averaging down, Cinoib? I remembered you said you were in that one and just saw the share price This is one seriously tough market to make a profit. PM's still the place to be, IMO, although no shortage of volatility anywhere for some time, also IMO.

[stonedyou] 09/5/2023 12:33

IIBX To Offer Seamless Gold Imports Under India-UAE CEPA; ICEGATE To Go Live At GIFT City SEZ On 10th May.


The Ministry of Commerce & Industry, Government of India had issued a Public Notice, dated 28th April 2023, announcing new tariff rate quota (TRQ) applications until 7th May 2023 under tariff head 7108 under the India-UAE Comprehensive Economic Partnership Agreement (CEPA) for FY 2023-24. The TRQ allows for reduced customs duty rates and will benefit traders and importers in both India and the UAE.

This announcement is especially exciting for the gold industry as it allows TRQ holders under India-UAE CEPA to import gold directly through the India International Bullion Exchange (IIBX) with ease and transparency. The provision for a 6-monthly review and the surrender of unutilised TRQ quantities ensures the effective and efficient utilisation of the TRQ.

Additionally, the upcoming launch of ICEGATE at GIFT City SEZ will open up processes for exporters of jewellery to take advantage of competitive rates when importing gold through IIBX.

Ashok Gautam, Managing Director & CEO, IIBX, told Solitaire, “This is an extremely important step and we are thankful to the authorities who have informed that ICEGATE will go live from 10th May 2023 at GIFT City SEZ. This is a very welcome development from IIBX’s perspective, as it will enable the TRQ holders under India-UAE CEPA to import their gold directly through IIBX in a transparent, democratic manner with the ease of desktop convenience. Further, the ICEGATE coming at GIFT City SEZ will open up the processes for allowing exporters of jewellery to also take gold through IIBX at competitive rates.”

The new TRQ applications under tariff head 7108 under India-UAE CEPA for FY 2023-24 will benefit traders and importers in both India and UAE by providing an opportunity to import goods at a reduced customs duty rate.

[stonedyou] 08/5/2023 20:37

Binance temporarily halted Bitcoin withdrawals as processing fees failed to cover demand.

The cryptocurrency exchange Binance halted Bitcoin withdrawals for several hours on Sunday night and Monday morning, pointing to high volume and processing fees that couldn’t keep up.

Binance said the shutdown was due to a backlog of pending transactions that hadn’t been processed because it hadn’t offered Bitcoin miners a sufficient reward to log the trades on the blockchain.

"Our set fees did not anticipate the recent surge in [Bitcoin] network gas fees," Binance said in a tweet. "We're replacing the pending [Bitcoin] withdrawal transactions with a higher fee so that they get picked up by mining pools."


There is a large volume of withdrawal transactions from Binance still pending as our set fees did not anticipate the recent surge in $BTC network gas fees.

Our team is working to accelerate the confirmation of all pending transactions.

We'll provide updates here.

— Binance (@binance) May 8, 2023


Gas fees are payments made to crypto miners who provide the computing power that processes transactions on the blockchain. High demand for withdrawals requires a lot of processing power, which can necessitate a higher fee.

Binance has since resumed withdrawals at a higher processing fee, the company said.

Bitcoin was down 3% Monday morning to $27,942.64.

Contact Andrew Kessel at [e-mail]

Follow him on Twitter @andrew_kessel

[lovewinshatelosses] 06/5/2023 20:39

Yeah, I am somewhat suspicious of the integrity of the jobs data too. Revisions are not uncommon and IMO are likely to be amended to the downside anyway. Sadly I do think most people are gullible. Actually I just think most people do not want to have to think about things, or take responsibility for decisions. That way, when policy decisions turn out to be absolutely dreadful, with significant, negative consequences, they can bleat that they were only following government law or guidance etc. Hey ho. We get the politicians we deserve, as the saying goes. On the topic of AI, we will know that we can trust the technology if it gets rid of politicians :) Joking aside, I can see a time where the number of actual jobs that a human can do better than a machine is going to be a pretty small percentage. I also do not think enough newly created jobs elsewhere, and even those that arise from new industries yet to be thought of, will offset these losses.
I do not think UBI as a concept will work for many humans - IMO it goes against the spirit of human nature - but I have no idea what the solution to this potential problem might be. Modern day Luddism perhaps? That does not really work for long either. Nope, sorry, no idea!

[cinoib] 05/5/2023 20:17

Just been looking at U.S. job data and amazes me when I keep seeing about thousands of jobs being lost in the teck sector , because of A.I. How they can magic up 1/4 mill jobs created. More fraudulent activity too fool the world. Maybe they think we are all as stupid and gullible like them.

[stonedyou] 05/5/2023 10:07

Texas Committee Passes Bill to Create 100% Reserve Gold and Silver-Backed Transactional Currencies.


MAY 3, 2023 BY MICHAEL MAHARREY.

On May 2, a Texas House committee passed a bill to create 100% reserve gold and silver-backed transactional currencies. Enactment of this legislation would create an option for people to conduct business in sound money, set the stage to undermine the Federal Reserve’s monopoly on money, and possibly create a viable alternative to a central bank digital currency (CBDC).

Rep. Mark Dorazio (R) introduced HB4903 on March 10 and it has since garnered a bipartisan coalition of 42 cosponsors. The legislation would require the state comptroller to establish and provide for the issuance of gold and silver specie and also establish digital currencies that are 100% backed by gold and silver, and 100% redeemable in cash, gold, or silver.

Specie is defined as “a precious metal stamped into coins of uniform shape, size, design, content, and purity, suitable for or customarily used as currency, as a medium of exchange, or as the medium for purchase, sale, storage, transfer, or delivery of precious metals in retail or wholesale transactions.”

In establishing gold and silver specie, the comptroller would be required to authorize the Texas Bullion Depository as issuer and ensure that the holder of the specie may use the specie as legal tender in payment of debt and readily transfer the specie to another person.

The comptroller would also be required to create a mechanism to use 100% backed gold and silver digital currencies in everyday transactions.

In establishing the digital currency under Subsection (a)(2), the comptroller shall provide a means to ensure that a person who holds the digital currency may:

1. Use the digital currency as legal tender in payment of debt; and

2. By electronic means readily transfer or assign the digital currency to another person.

Physical gold and silver backing the digital currency would be stored in a pooled account at the Texas State Bullion Depository.

“The trustee shall maintain enough gold and silver specie or bullion to provide for the redemption of all units of the digital currency issued but not redeemed.”

In practice, individuals would be able to purchase transactional currency representing the smallest fractions of physical gold or silver. The money would be used to purchase gold or silver that would be held in the already-open Texas Bullion Depository. Individuals would be able to redeem their transactional currency for dollars, gold, or silver on demand.

On May 2, the House State Affairs Committee passed HB4903 by a 7-6 vote.

In an outpouring of strong support from the grassroots in Texas, a 78-page document – representing hundreds of messages of support for the bill – was presented to the committee members during a hearing last month.

IMPACT

This is one of several bills introduced in the Texas legislature this year to promote sound money, including legislation to establish state gold and silver reserves, and a bill to make gold and silver legal tender in the Lone Star State.

The creation of state-issued gold-backed and silver-backed digital currencies would create currency competition with Federal Reserve notes and undermine the Fed’s monopoly on money. It would also provide a sound money-backed competitor if the Federal Reserve implements a central bank digital currency.

Broadly speaking, by making gold and silver conveniently available for regular, daily transactions by the general public, gold and silver-backed digital currency would create the potential for a wide-reaching effect. Professor William Greene, an expert on constitutional tender, said in a paper for the Mises Institute that when people in multiple states actually start using gold instead of Federal Reserve notes, it would effectively nullify the Federal Reserve and end the federal government’s monopoly on money.

[cinoib] 04/5/2023 19:10

LOvewin you bailed just as gold is heading for 3,000, think I would have held a bit longer. I want at least 25 for my few.

[lovewinshatelosses] 04/5/2023 17:22

What a turnaround in two short months, eh? Still got further to run IMO....but I am fully out for now. Naturally I hope to have the chance to return, but if that day does not come, GLA and enjoy the fruits of your successes.

[justiceforthemany] 04/5/2023 16:37

ZAR gold price is up 30% year on year.
EPS full year could hit 4p which means the current P/E is only 5 with growth to come from Mintails
10x earnings therefore c. 40p share price

[spaceavenger] 04/5/2023 16:24

Considering the gearing that could at least double the share price. What source?

[cinoib] 04/5/2023 11:25

justice, looks like you will get your 20p today as gold just gone positive.

[lovewinshatelosses] 04/5/2023 10:46

Well, I got that call wrong! Too greedy for a bigger pull back and now it has sailed away, so no top up for me at this time. It might continue to motor forward, but I do not like to buy upward spikes like this. Especially when the bottom could fall out of the market any day, given the banking stuff (on top of everything else) - and we know that historically even PM stocks get thrown out with the baby from the bathwater in such events. Well done to those who kept adding recently though.

[cinoib] 04/5/2023 10:13

justiceforthemany, well it has reacted this morning to last nights big spike, but yes agree as last time we were at this gold price a year or two back it was 30p nevermind 20.At least it's the biggest mover on the gold sector this morning.

[justiceforthemany] 03/5/2023 22:06

Gold soaring $2030
Why is this not above 20p?
Being suppressed.

[blue59] 03/5/2023 17:11

PS forgot to mention it was to place!

[blue59] 03/5/2023 08:16

Interesting! I heard from a reliable source (my cousin's husband's, sister's friend, knows someone who works in a pub nr Newbury who overheard someone say that) Desert Cop has a good chance in the 3.50 at Ascot today. No advice offered or implied and do your own research etc.

[cinoib] 02/5/2023 20:51

Has everyone died and gone to heaven on here or just nothing to say. I heard from a reliable sauce today that gold will reach $3,000 by year end so keep topping up.

[justiceforthemany] 28/4/2023 13:15

Trading at quite a steep discount to the JSE price yet again.
Helen Hira just does not seem to get it.

[lovewinshatelosses] 27/4/2023 15:31

It is amazing how often the charts seem to accurately determine the direction of travel. I am still trying to learn and improve. Still trying to properly trust them too, in truth. I think we are going a bit lower still, so am holding fire for now. I offloaded a few more just below 19p the other day, so am now underweight here. No change of opinion as to my high regards for the company, but do not think the window to buy back a decent tranche will be that small. A gamble of course and I could be wrong.

[justiceforthemany] 27/4/2023 15:16

You got your 17p buy in

[justiceforthemany] 27/4/2023 15:15

Gold is still near $2000 but this is being sold off again.