Pan African Resources Share Discussion Threads

[justiceforthemany] 09/1/2024 16:36

H1 update to 31/12 due any day now.

[swinsco] 05/1/2024 15:24

This has got to make a move soon. Ridiculous valuations of these gold companies.

[johnbull1] 05/1/2024 12:02

Record gold price in Rand. Production at high end of guide. Stock at 16? Market so fickle!

[justiceforthemany] 26/12/2023 10:04

$2065 Gold price rising

[justiceforthemany] 21/12/2023 22:10

Currently 8.25%

[justiceforthemany] 20/12/2023 16:54

Rate cuts are coming; SA election year means sooner rather than later.

[af004] 20/12/2023 08:02

at a 6-7% premium . Hardly spectacular.

[justiceforthemany] 20/12/2023 07:17

Takeover. SHANTA GOLD.

[af004] 19/12/2023 13:51

Good luck with the FCA... gold moving?

[stonedyou] 18/12/2023 13:32

NORTH KOREA LAUNCHED INTERCONTINENTAL BALLISTIC MISSILE CAPABLE TO REACH ANY TARGET IN US.

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On December 18, the Democratic People’s Republic of Korea launched two missiles in five hours. The first short-ranged missile was launched from the area of Pyongyang. It flew 570 km before falling into the Sea of Japan.

In several hours, the second intercontinental ballistic missile was launched to the waters of the Sea of Japan from the Sunan area in Pyongyang. According to the Japanese military, the intercontinental ballistic missile was in flight for 73 minutes and during this time covered a distance of 1, 000 km at a maximum flight altitude of 6, 000 km. The missile fell 250 km west of Hokkaido Island.

When launched on a normal trajectory, the rocket can fly more than 15,000 km, thus “covering” the entire territory of the United States, the Japanese military added.

The North Korea launched missiles in response to the approach of the US Navy submarine Missouri to the South Korean Naval Base Busan.

The DPRK Defense Ministry commented:

Warmongers from the United States and South Korea held the second meeting of the “Nuclear Advisory Group” in Washington on December 15. They revealed to the public that they will complete work on the “guidelines for the nuclear strategic plan, its implementation” and the creation of an “expanded deterrence system”; in August 2024, the parties will conduct a simulated nuclear operation during the large-scale Ulchi Freedom Shield exercise directed against the DPRK.

US and South Korean bandits maximized tensions on the Korean peninsula by their provocations against the DPRK at the end of the year. The US sent the Missouri submarine to the Korean Peninsula. The current situation forces the armed forces of the DPRK to make a choice in favor of offensive counteraction.

At the end of November, South Korea partially suspended the agreement on reducing military tensions with North Korea dated September 19, 2018. The reason for this was Pyongyang’s successful launch of the Mulligan-1 reconnaissance satellite.


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[justiceforthemany] 18/12/2023 13:17

PAF actively investigating why LSE price consistently tracks lower than JSE.
FCA also contacted.
Monitoring finally ramped up.
Manipulators beware.

[justiceforthemany] 16/12/2023 20:30

Do you live in SA?
Are you aware of any bad news to justify selling out of a stock trading at just 3x earnings and making $140M profit pre-tax?
PAF is making bucket loads of cash with margins of almost $700 per oz!
Eskom situation is also much improved.

[stonedyou] 15/12/2023 13:56

U.S. Congressman Asks Federal Reserve Whether Nations Are Repatriating Gold from New York.


Washington, D.C. (December 14, 2023) – As central banks across the globe continue to scoop up gold bullion for their reserves at record rates, U.S. Rep. Alex Mooney (R-WV) is asking Federal Reserve Chairman Jerome Powell some pressing questions about gold.

Gold currently trades at all-time highs in most currencies. Market insiders claim that Germany’s Bundesbank is again seeking to repatriate some of its gold vaulted with the Federal Reserve Bank of New York.

The Fed recently refused to respond to inquiries from the Gold Anti-Trust Action Committee about whether any foreign gold had been repatriated this year.

In 2013, the Bundesbank asked the New York Fed to return 300 tonnes of its gold, but the bank inexplicably took more than three years to fulfill the request.

This incident raised the doubts about the status and security of foreign gold vaulted with the New York Fed, since Germany’s gold had been assumed to be held unencumbered and in a segregated area within the Fed’s vault.

This week, Rep. Mooney wrote to Federal Reserve Board Chairman Jerome Powell as follows:

I remain interested in the Federal Reserve’s activities with respect to the gold market. The gold price – now hitting all-time highs – is in some ways a report card on your management of the current system of unbacked Federal Reserve notes and bank credit.

I am increasingly concerned that actions by the Fed, the U.S. Treasury, and deficit spenders in Congress have undermined the world’s confidence in our currency, making our nation more financially vulnerable – to say nothing of the impact of inflation on our own citizens.

Please respond in writing to the following questions no later than January 15, 2024:

Has the Federal Reserve or the Federal Reserve Bank of New York repatriated any gold to foreign nations this year? If so, to which countries and how much?
How much gold is the Federal Reserve vaulting for foreign nations now and how does this compare to the amount vaulted at the end of 2022?
Does the New York Fed’s statement of November 9 asserting that the Federal Reserve and U.S. Treasury Department did not intervene in the foreign exchange markets during the July-September 2023 quarter cover the gold market as well? (See
Mooney’s question about Federal Reserve interventions in the gold market echo concerns raised by some traders and policy makers that the Fed may be surreptitiously managing the gold price. The central bank has disclosed its interventions in many other markets, but it has not admitted to gold interventions.

“Americans deserve to know more details about the status and use of U.S. gold reserves and all other aspects of government gold activities, particularly as runaway debt and deficits combined with weaponization of the SWIFT payments system threaten the world’s confidence in the Federal Reserve note,” said Stefan Gleason, president and CEO of Money Metals Exchange.

Rep. Mooney has long been a leader on a sound money issues in Congress, having introduced reforms such as the Gold Reserves Transparency Act, the Monetary Metals Tax Neutrality Act, the Gold Standard Restoration Act, and the Digital Dollar Pilot Prevention Act.

A copy of Mooney’s letter to the Federal Reserve can be found here.

[cinoib] 15/12/2023 13:45

Justice, I have as passed my buy price and nice timing as has fallen ever since and gold now falling again as expected from the thieves of wall St,.

[stonedyou] 15/12/2023 12:20

Bullish on Bullion: China Will Drive The Gold Price in 2024COMMENT: 'Given ongoing geopolitical fragmentation, we now expect institutional purchases to remain elevated'


Geopolitical tensions spurred a major gold rebound in October, widening the gap between real yields and gold even further. In our view, the weakening of the decade-long correlation between real yield levels and gold is not only a reflection of the current higher inflation regime, but also reveals stronger structural demand.

Meanwhile, emerging market central banks have ramped up their gold holdings in an effort to gain more independence from the US dollar, and the shift in China’s growth model has increased economic uncertainty, boosting physical demand for gold from local investors. Taken together, the confluence of these factors should support gold at a structurally higher price level than prior to the pandemic, softening the historical influence of real yields.

Gold: Who's Buying it, and Why?

As the ramifications of events in the middle east hit home in early October, the price of gold rebounded, pushing the metal close to $2000 (£1566) per ounce. Notably, the surge followed a period of consolidation that gold had experienced on the back of rising real yields. As such, the precious metal's recent pickup has amplified its recent decoupling from the 10-year yield on US Treasury Inflation-Protected Securities, or TIPs. This prompted us to take a closer look at the underlying factors.

Some time ago, we established inflation as an important long-term driver of gold. The precious metal's post-pandemic price dynamics largely confirm this hypothesis. Clearly, the elevated inflation rates seen over the past two years imply a markedly lower gold price in real terms (which we obtain by deflating the dollar gold price with US headline inflation). This essentially reduces the gap between real yields and gold.

Yet a substantial part of the gap remains unexplained. In our view, the decoupling of the decade-long correlation between long-term US real yield levels and the gold price largely points towards structural shifts in demand.

In an effort to gain more independence from the US dollar, EM central banks have stepped up their gold holdings substantially over the past two decades – in particular China and Russia. The pace of institutional gold buying saw another acceleration after the US and their allies froze Russian dollar reserves in response to the invasion of Ukraine in early 2022. With official gold purchases exceeding 100 tonnes in H1 2023 alone, China continues to be the most significant institutional buyer year to date.

Difficult China Backdrop Makes Gold Shine

Gold has also become increasingly attractive for individual buyers. Again, China is a case in point. Once considered a safe asset, real estate has lost much of its appeal among local investors. The government's decision to deflate the housing market means the sector is in a structural decline. New sales and housing starts have fallen to levels not seen in a decade, and house prices have moved markedly lower over the past quarters.

Chinese equities have similarly underperformed over the past two years and the renminbi has revisited its 2022 lows, erasing the gains it made after China's reopening. With the government enforcing strict limits on capital outflows, it is hard for investors to turn to the outside world.

Along with its lack of viable and attractive domestic investment alternatives, China's macro backdrop makes gold shine ever more. Beyond this, local investors see gold as a hedge against the weakness of the Chinese renminbi. The unusually high demand for gold is particularly visible in a recent spike of the China gold premium – the spread at which gold is traded in Shanghai compared to London. The spread typically hovered around $10 per ounce over the past ten years, yet it temporarily rose above $50 per ounce during Q3 2023.

Given that domestic financial asset returns are set to remain highly volatile, we expect physical gold demand to stay strong in China, a level high enough to matter for the world market. Taken together, we expect the confluence of these factors to support the gold price at a structurally higher level than prior to the pandemic, weakening the historic influence of real yields on gold to a considerable extent.


Claudio Wewel is an FX strategist at J. Safra Sarasin Sustainable Asset Management

[stonedyou] 15/12/2023 12:14

Russia's gold reserves worth hits new record.


ST. PETERSBURG, Dec. 14 (Xinhua) -- The value of Russia's gold reserves has exceeded 150 billion U.S. dollars for the first time in contemporary history, due to the rise in gold prices, RIA Novosti news agency reported on Thursday.

The value of Russia's gold investments in November increased by 2.2 percent, reaching 151.9 billion dollars, according to RIA Novosti's analysis of Russian Central Bank data.

The previous high was 148.7 billion dollars recorded in October.

In physical terms, Russia's gold reserves decreased by about 16 tons to 2,315 tons in November.

According to the central bank, Russia's international reserves rose by nearly 3 percent to 592.4 billion dollars in November, the highest level since April this year. ■

[justiceforthemany] 14/12/2023 20:57

$2052 Gold.
Which idiot will be selling now on any rise, at a P/E of just 3-4?