Pan African Resources Share Discussion Threads

[cinoib] 16/10/2024 10:09

Nice one through 36 at holding this time as gold strikes out for $ 2,700. I am expecting 3,000 by year end if there is no solution in the middle east or Ukraine as gold will continue to rise as long as WW3 is looming. If by any remote chance iether of, or both of these arguments are settle then sell, but looks very unlikely from where I sit so keep it rolling on, next stop 40p

[stonedyou] 16/10/2024 09:10

Live Gold Price

Bid|Ask

2,679.83 2,679.97

Low|High

2,658.63 2,681.92

Change $18.04 0.68%

[stonedyou] 14/10/2024 15:19

241001 - Speakers_Sub_01.00 - Alasdair Macleod Head of Research at Goldmoney, former City stockbroker

[stonedyou] 11/10/2024 08:00

First modern gold-backed scholarships can send students to college
Submitted by admin on Thu, 2024-10-10 21:52 Section: Daily Dispatches
If they can find one worth attending.

* * *

9:55p ET Thursday, October 10, 2024

Dear Friend of GATA and Gold:

Gold advocates are eagerly anticipating the possibility that some sort of gold-backed trading currency will emerge from this month's meeting of the BRICs and BRICs-associated nations in Kazan in Russia.

But the Sound Money Defense League and Money Metals Exchange have just announced what they call the first gold-backed college scholarships of the modern era.

The sponsors are putting aside 100 ounces of gold to underwrite seven scholarships, ranging from $500 to $2,500, starting this year. Five of the scholarships are available to high school seniors and undergraduate students and two to graduate students.

Applicants don't have to be majors or aspiring majors in economics to apply. Indeed, these days an interest in the monetary metals may disqualify students not just from economics departments in most colleges and universities but even from respectable society. But study of the past, present, and future of the monetary metals may provide more learning in economics, politics, and reality than years of slogging through the sludge of modern higher education.

Additionally, since the monetary metals seem about to get their revenge on a corrupted world financial system, studying them may position young people for careers more lucrative than anything majoring in Gender Studies or Art History will qualify them for.

Applications for the scholarships will require a thousand-word essay on one of these four topics:

-- How has the Federal Reserve System helped or hurt the American economy?

-- Discuss the concept and advantages of sound money and its historical significance. How does it contrast with today's monetary system, and how could sound money be restored?

-- What is a central bank digital currency (CBDC)? Compare and contrast a CBDC with the currency system now in place as well as a gold-backed system. How would a CBDC impact the lives of Americans?

-- If BRICS nations establish their own currency, how might that affect the United States, the Federal Reserve System, and the value of our currency? Consider the economic, geopolitical, and monetary consequences of such a development.

This year's applications must be received by October 31. For more information and to apply, visit:



CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
[e-mail]

* * *

[stonedyou] 10/10/2024 20:40

Russia...and Silver...


Ed Steer
Gold and Silver Digest


The gold price took two steps higher once Globex trading commenced at 6:00 p.m. EDT on Thursday evening in New York -- and that lasted until its price was capped at 2 p.m. China Standard Time on their Friday afternoon. It was sold quietly lower from there until 11 a.m. in London -- and then crept a bit higher until it got smacked at exactly 1:00 p.m. BST/8:00 a.m. in New York. Then the collusive commercial traders of whatever stripe showed up in force at the 8:30 a.m. EDT non-farm payroll number in Washington -- and its low tick was set about 8:59 a.m. It then rallied two enormous steps higher from there until 'da boyz' showed up anew about fifteen minutes after the 11 a.m. EDT London close. Shortly after that its price was engineered lower until 12:45 p.m. -- and then had a decent up/down move that ended at 3:01 p.m. in after-hours trading. It rallied rather smartly from there until trading ended at 5:00 p.m. EDT.

The low and high ticks in gold, both of which were set by 'da boyz' in COMEX trading in New York, were recorded by the CME Group as $2,651.60 and $2,690.60 in the December contract...an intraday move of $39. The October/ December price spread differential in gold at the close in New York yesterday was $22.00...December/February was $22.90...February/April was $19.50 -- and April/June25 was $19.60 an ounce.

Gold was closed on Friday afternoon in New York at $2,653.30 spot, down $2.20 on the day...22 dollars off its low tick -- and and 17 bucks off its Kitco-recorded high. Net volume was only a bit on the heavier side at a bit under 169,000 contracts -- and there were just about 24,000 contracts worth of roll-over/switch volume out of December and into future months on top of that.

I noted that 114 gold, plus 156 silver contracts were traded in October yesterday, so I look forward to what portion of that shows up in tonight's Daily Delivery and Preliminary Reports.

[astjgroom] 10/10/2024 08:42

https://m.miningweekly.com/article/pan-africans-masterstroke-gold-operation-gets-going-under-budget-ahead-of-schedule-2024-10-03Nice article, last paragraph interesting as well. I'll add a few more on this pullback

[baldrick1] 07/10/2024 21:32

It did break thru 35p but then pog continues to go down and treasury yields go higher.

[cinoib] 04/10/2024 12:19

baldrick, yes is more than possible as gold is steadying ready for another push to go through the $2,700 mark. If my $3,000 by Christmas is reached the there will be some fireworks in the gold producers and I think the Israeli's will provide that.

[baldrick1] 04/10/2024 08:47

We could see a break thru 35p soon and then rallying towards 40p with ease.

[stonedyou] 01/10/2024 11:08

Appointment of Financial Director
Published: 01/10/2024, 07:00
Pan African Resources Plc - Appointment of Financial Director
PR Newswire

LONDON, United Kingdom, October 01


APPOINTMENT OF FINANCIAL DIRECTOR



Shareholders are referred to the announcement released on SENS and RNS on 29 July 2024, and are further advised that Marileen Kok has been appointed to the Board as the Financial Director and as a member of the social and ethics committee with effect from 1 October 2024. Marileen will also be appointed as a director of PAR Funding Company and as the debt officer with effect from 1 October 2024.



Marileen is a Chartered Accountant with extensive experience in the mining industry, specifically relating to financial reporting, corporate finance, governance and regulatory compliance and various other commercial matters. She joined the Group as Group Financial Manager in January 2020.



Regulatory

The following information is disclosed under Rule 17 of the AIM Rules for Companies ("AIM Rules") and Schedule Two Paragraph (g) of the AIM Rules:

Marileen Kok (aged 41)

Marileen Kok holds 25,000 ordinary shares in the Company.

Current Directorships

Past Directorships (within the last five years)

Barberton Mines Proprietary Limited

Midstream Ridge Home Owners Association

Evander Gold Mining Proprietary Limited


Pan African Resources Properties Proprietary Limited

Mogale Clay Proprietary Limited

There is no further information which is required to be disclosed under Schedule Two, paragraph (g) of the AIM Rules for Companies in respect of Marileen Kok.

For further information on Pan African, please visit the Company's website at

www.panafricanresources.com

[stonedyou] 27/9/2024 15:19

Costco still selling gold bars like hot cakes as prices surge.

Costco (COST) is slinging a lot of gold bars as prices for the yellow metal continue to surge.

Sales of gold were up "double digits" in the most recent quarter, Costco CFO Gary Millerchip told analysts on its earnings call Thursday evening. Millerchip went on to add that gold was a "meaningful tailwind" to e-commerce sales in the quarter.

Costco began selling gold bars in the fall of 2023. Wells Fargo analysts have estimated Costco is selling $100 million to $200 million in gold bars each month.

The most recent gold performance led to a tongue-in-cheek moment as Costco's call was nearing its end.

Veteran Evercore ISI analyst Greg Melich asked executives, "Given the nonfood, the success there, ... I'm just curious, are there any plans to maybe bring Kirkland Signature into the gold bullion market?"

Kirkland Signature is Costco's large private-label business.

"No plans at this time," Costco CEO Ron Vachris said.

A screenshot from Costco's online store showing its gold bar offering.

The gold rush at the warehouse club comes as futures for the metal hit (GC=F) record highs at $2,708.70 an ounce during Thursday's trading session. Year to date, gold is up 30%, with the Fed's decision to cut rates by a half percentage point last week giving it another boost.

Top gold stocks such as Freeport McMoRan (FCX) and Barrick Gold (GOLD) have gained a cool 22% and 18%, respectively, in 2024.

On its website, Costco sells its 1 oz gold bar for $2,679.99. You have to be a member to buy the bullion. It's also non-refundable, and there's a limit of five total units per membership.

It's likely that Costco's gold business will stay lucrative in the near term, pros suggest.

IDX CIO Ben McMillan told Yahoo Finance this week that after years of gold being "sleepy," it's now firing on all cylinders as investors look to de-risk their portfolios.

“Gold historically has been ... kind of associated with very risk-off, very flight to safety type trades like hard landing recessions," McMillan said.

Despite the hefty sales of gold, Costco's bread and butter is still hawking products like, well, bread and butter to cost-conscious shoppers.

Its fiscal fourth quarter same-store sales growth came in at 6.9%, compared to estimates of 6.4%. E-commerce sales jumped 19.5%, slightly lower than the 19.63% growth rate Wall Street was projecting.

Sales were powered by growth in appliances, food health and beauty aids, tires, toys, and gift cards, among other items.

NasdaqGS - Nasdaq Real Time Price
•
USD
Costco Wholesale Corporation (COST)

Shares of Costco fell 1.5% in premarket trading on Friday.

"In total, we think strong comparable sales and membership growth, and solid member retention rates indicate the company’s value proposition continues to appeal, with strong share gains across most of the company’s businesses. We anticipate the recently enacted membership fee increase will be largely reinvested, further aiding sales, comp, and traffic growth over the next 12-18 months," Stifel analyst Mark Astrachan wrote in a client note.

Astrachan maintained a Buy rating on the stock.

[stonedyou] 27/9/2024 10:35

Gold suppression policy is blown, GATA's Ed Steer tells talk radio's Dave Janda

Submitted by admin on Wed, 2024-09-25 12:46 Section: Daily Dispatches

12:50p ET Wednesday, September 25, 2024

Dear Friend of GATA and Gold:

Interviewed last week by talk radio host Dave Janda on WAAM-AM1600 in Ann Arbor, Michigan, GATA board member Ed Steer, publisher of Ed Steer's Gold and Silver Digest letter, said the U.S. and international economies are in their most fragile condition ever, being supported only by frantic creation of money by governments and central banks.

Steer said the U.S. government has pursued a surreptitious policy of suppressing gold and commodity prices ever since repudiating the dollar's formal link to gold in 1971.

He added that many governments and central banks are aware of this policy and aren't playing along with it anymore and are buying gold on price dips.

Silver, Steer said, is in much shorter supply than gold and its price potential is much greater.

The interview is 25 minutes long and can be heard at Janda's internet site here:



CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
[e-mail]

[stonedyou] 27/9/2024 10:03

Sept 2024


Pan African has delivered an outstanding set of operational and financial results for

the 2024 financial year. Notably, revenue increased by 16.8%, supported by a 4.9%

increase in gold sales to 184,885oz (2023: restated 176,216oz) and an 11.3% increase

in the average US$ gold price received during this period.11 Sept 2024

[cinoib] 26/9/2024 17:46

See some late profit taking at the close, they be kicking themselves when gold hits $3,000.

[stonedyou] 26/9/2024 13:21

President Trump 1 Oz Silver Round