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PAF Pan African Resources Plc

20.35
-0.35 (-1.69%)
Last Updated: 10:57:01
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Pan African Resources Plc LSE:PAF London Ordinary Share GB0004300496 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  -0.35 -1.69% 20.35 1,057,322 10:57:01
Bid Price Offer Price High Price Low Price Open Price
20.25 20.40 21.00 20.35 21.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Gold Ores USD 321.61M USD 60.74M USD 0.0317 6.45 391.93M
Last Trade Time Trade Type Trade Size Trade Price Currency
10:57:01 AT 2,302 20.35 GBX

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Date Time Title Posts
19/3/202408:38Pan African Resources - Ripe for Takeover ?89
12/3/202412:08Pan African Resources a sleeping giant1,687
01/3/202411:28tuscan-
20/11/202316:21Pan African Minerals - Road to Takeover3
20/10/202309:09Pan African Resources for 2006 (PAF) Moderated13,138

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Pan African Resources (PAF) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
10:57:0120.352,302468.46AT
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10:57:0120.359,7201,978.02AT
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Pan African Resources (PAF) Top Chat Posts

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Posted at 19/3/2024 08:20 by Pan African Resources Daily Update
Pan African Resources Plc is listed in the Gold Ores sector of the London Stock Exchange with ticker PAF. The last closing price for Pan African Resources was 20.70p.
Pan African Resources currently has 1,916,503,988 shares in issue. The market capitalisation of Pan African Resources is £391,925,066.
Pan African Resources has a price to earnings ratio (PE ratio) of 6.45.
This morning PAF shares opened at 21p
Posted at 12/3/2024 12:08 by stonedyou
Gold: This Breakout Is Unambiguous.

Review

After a sharp two-month rise to a new all-time high of USD 2,149 on December 4th, the gold market experienced a sharp pullback to USD 1,973 in the final weeks of the old trading year, followed by a rapid recovery to USD 2,088. To digest this overall quite tumultuous market activity, gold prices entered a slow and confusing sideways phase since the beginning of the year. This was necessary to calm down the overbought situation after this rollercoaster ride. Gold – This breakout is unambiguous.

During this consolidation, all attempts to break out on the upside repeatedly failed at the resistance zone around USD 2,055. At the same time, the psychological level of USD 2,000 resisted the bear attacks. Only in mid-February did they seem to successfully break through to the downside. However, the drop below USD 2,000 quickly turned out to be a bear trap because, starting from the low of USD 1,985, gold prices reclaimed the psychological round number support with a closing price of USD 2,004 on the next trading day.


Bear Trap Below USD 2,000

Subsequently, gold prices rose steeply and continuously for a total of 18 trading days from that February 14th. Since breaking through the downtrend line at USD 2,055 on Friday of the previous week, this rally has accelerated. Gold prices not only effortlessly surpassed the old all-time high at USD 2,075 but also reached the highest level ever, peaking at USD 2,195 during last Friday.

Undoubtedly, this marks the definitive end of the 13-year correction and consolidation phase that repeatedly hindered bullish efforts in the range between USD 1,900 and USD 2,075. Consequently, the steep breakout rally pushed gold up by over USD 210 in a very short period of time. Regardless of short-term pullbacks or interim consolidations, this likely signifies only the beginning of the next major uptrend in the precious metals sector!

Source: Tradingview

After the initial attempt failed back in December, gold finally and decisively surpassed the major resistance of the last three and a half years around USD 2,075 on Friday, 1st of March. This bullish price action confirms the significant inverse head and shoulders formation and brings an end to the long wait. The target from this formation is approximately USD 2,535 and could potentially be reached in one volatile surge!

However, on the weekly chart, gold prices are currently trading well outside the upper Bollinger Band (USD 2,153). Statistically, the air is somewhat thin with prices around USD 2,180 at least in the short term.

Yet, it is essential not to underestimate the fact that the energy accumulated over three and a half years is now being unleashed in the gold market. The momentum is clearly on the side of the bulls. It can also be assumed that after the two-and-a-half-month consolidation, the ongoing rally is unlikely to end after just three weeks. In case of doubt, the new uptrend may continue swiftly but with volatility.

Overall, the weekly chart is bullish. Gold should be on its way towards USD 2,535 in the medium term. Significantly higher prices are also conceivable afterward. Possible pullbacks to the old resistance zone in the range between USD 2,075 and USD 2,100 should still be anticipated and would be a buying opportunity.

Daily Chart: Stochastic Bullish Embedded
Posted at 09/3/2024 11:45 by stonedyou
AuAg Funds founder and CEO explains why now is gold miners' time to shine.

Published: 12:18 08 Mar 2024 GMT


AuAg Funds founder and CEO Eric Strand joins Proactive's Stephen Gunnion with the latest developments affecting the gold price and gold miners included in the AuAg ESG Gold Mining UCITS ETF (LSE:ESGP).

Strand said gold prices near all-time highs is very advantageous for gold miners, despite a historical lag in their response to gold price increases. The costs for miners have stabilized while gold prices are rising, promising improved profitability. Strand emphasizes the leverage effect in gold mining, where a 20% increase in gold price could result in a 40% gain for gold miners, attributing this to the net return difference between gold prices and operational costs.

Furthermore, he highlighted gold miners as undervalued, both in relation to gold and historically against the S&P 500. The current market dynamics, with strong holdings and reduced retail investor presence, present a ripe opportunity for valuation adjustments. Strand also notes a trend towards shareholder-friendly practices among miners, including reduced debt and cautious project investments, potentially avoiding past mistakes.

Consolidation activities within the sector are acknowledged, with a preference for acquiring known entities over costly exploration. The mid-sized companies are viewed as prime targets for larger firms, indicating a dynamic market.

Lastly, Strand projects a 20% rise in gold prices for the year, targeting nearly $2,500 by year-end, driven by anticipated lower interest rates and the sustaining momentum above $2100, which fosters a positive outlook for continued investment in gold.
Posted at 04/12/2023 12:26 by stonedyou
Part 3



The gold price suppression scheme was a matter of public record in July 1998, six months before GATA was formed, when Federal Reserve Chairman Alan Greenspan told Congress: "Central banks stand ready to lease gold in increasing quantities should the price rise." That is, Greenspan himself, supposedly the greatest among the central bankers, contradicted the usual central bank explanation for leasing gold -- which was supposedly to earn a little interest on a dead asset -- and admitted that gold leasing is all about suppressing the price. Greenspan's admission is still posted at the Fed's Internet site:



Incidentally, while we gold bugs love to cite Greenspan's testimony from 1998 because of its reference to gold leasing, that testimony was mainly about something else, for which it is far more important today. For with that testimony Greenspan persuaded Congress not to regulate the sort of financial derivatives that lately have devastated the world financial system.

The Washington Agreement on Gold, made by the European central banks in 1999, was another admission -- no, a proclamation that central banks were working together to control the gold price. The central banks making the Washington Agreement claimed that, by restricting their gold sales and leasing, they meant to prevent the gold price from falling too hard. But even if you believed that explanation, it was still collusive intervention in the gold market. You can find the Washington Agreement at the World Gold Council's Internet site:



Barrick Gold, then the largest gold-mining company in the world, confessed to the gold price suppression scheme in U.S. District Court in New Orleans on February 28, 2003. That is when Barrick filed a motion to dismiss Blanchard & Co.'s anti-trust lawsuit against Barrick and its bullion banker, JPMorganChase, for rigging the gold market.

Barrick's motion claimed that in borrowing gold from central banks and selling it, the mining company had become the agent of the central banks in the gold market, and, as the agent of the central banks, Barrick should share their sovereign immunity and be exempt from suit. Barrick's confession to the gold price suppression scheme is posted at GATA's Internet site:



The Reserve Bank of Australia confessed to the gold price suppression scheme in its annual report for 2003. "Foreign currency reserve assets and gold," the Reserve Bank's report said, "are held primarily to support intervention in the foreign exchange market." The bank's report is still posted at its Internet site:



Maybe the most brazen admission of the Western central bank scheme to suppress the gold price was made by the head of the monetary and economic department of the Bank for International Settlements, William S. White, in a speech to a BIS conference in Basel, Switzerland, in June 2005.

There are five main purposes of central bank cooperation, White announced, and one of them is "the provision of international credits and joint efforts to influence asset prices (especially gold and foreign exchange) in circumstances where this might be thought useful." White's speech is posted at GATA's Internet site:



In January this year 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." It is a detailed plan of surreptitious intervention to rig the currency and gold markets to support the dollar and to conceal, obscure, or 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:



In August this year the international journalist Max Keiser reported an interview he had with the Bundesbank, Germany's central bank, in which he was told that all of Germany's gold reserves were held in New York. That interview is posted at the YouTube Internet site:



Some people saw the Bundesbank's admission as a suggestion that Germany's gold had become the tool of the U.S. government. GATA consultant Rob Kirby of Kirby Analytics in Toronto then pressed the Bundesbank for clarification. On August 24 the Bundesbank replied to Kirby by e-mail with a denial of Keiser's report, but the denial was actually pretty much a confirmation:
Posted at 27/11/2023 15:53 by stonedyou
Will gold prices increase in 2024? Here's what the experts think.


Gold investing has garnered a lot of attention in the last year or so. Gold prices soared, hitting their highest point in over a year, and discount retailer Costco even started selling gold bars online.

It's no wonder either: Gold has long been known as a smart hedge against inflation — and with inflation well above the Federal Reserve's 2% goal, many consumers have sought out its protection. Gold is also a portfolio diversifier and, generally speaking, a good store of value in the long run.

Despite all this, though, gold prices do fluctuate in the short term. In September, for example, the average price dipped below $1,850 per ounce. By the end of November, prices jumped over $2,000. Will prices top that in 2024? Here's what experts have to say.


So, where are gold prices headed next year? Here's where the experts think gold prices will land in 2024.

The economy will call for some safe bets

One of the big reasons gold has become popular lately — and pricier — is stubborn inflation. And while the Fed has hiked interest rates many times to help quell it, the central bank is still far from its 2% goal. And according to a forecast from WisdomTree Investments, it will stay that way for a while.

WisdomTree's forecast currently projects a 3.1% inflation rate at the start of 2024 and a 2.60% rate by the third quarter. This persistently high inflation could push up demand for gold and, subsequently, gold prices.

"When inflation rates rise, gold prices often increase as well," says Liam Hunt, a financial writer and analyst for Gold IRA Guide. "If current trends of economic uncertainty and inflationary pressures continue, there could be upward pressure on gold prices. In 1980, gold prices reached a then-record $800 per ounce following years of generationally-high inflation over the preceding decade."

Forecasts aren't always right, though. And while WisdomTree currently predicts gold prices to hit a new all-time high next year, if economic conditions worsen, demand for gold could rise considerably, sending prices up even more.

As Nitesh Shah, head of commodities and macroeconomic research at WisdomTree, explains, "In other scenarios of the world where economic conditions deteriorate faster and there is greater demand for defensive assets, we could see gold prices rising even further."

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Geopolitical tensions and the election could drive up demand for gold
Inflation is an important factor to watch next year if you're tracking gold prices. Geopolitics are another.

"Periodically, geopolitical risks, and a flight to safety drive up the demand for gold," Shah says. "Recently, the Israel-Hamas conflict has driven up the geopolitical premium in gold."

He's right: After the conflict between Israel and Gaza began in early October, gold prices soared, reaching points not seen since mid-2022.

"Fears that an uncontained, regional war could disrupt global markets and supply chains triggered capital flight into gold and away from speculative assets such as high-risk stocks," Hunt says. "Gold is often seen as a safe-haven asset. In times of economic uncertainty or market volatility, investors tend to turn to gold, putting upward price pressure on the yellow metal."

Another time investors might flock to a safe-haven investment like gold? That'd be during a presidential election, when some might view a change in leadership as a risk to their finances.

"Given the U.S. presidential election in 2024, we expect retail demand for gold to remain high as investors turn to the metal to hedge against what they feel is a risk of an adverse outcome," Shah says.

Gold prices will increase
Given economic conditions and political tensions, most experts agree that gold prices are going to rise in 2024, as more and more consumers seek out a safe spot to store their wealth.

"Gold is the best hedge there is and every portfolio," says Collin Plume, founder of Noble Gold Investments. "We have an average of an economic downturn every 5.5 years. Each time a downturn happens, you need that one asset that will keep you buoyant while you wait for the rest of your portfolio to recover."

According to WisdomTree's forecast, gold prices will climb throughout 2024, eventually reaching $2,090 per ounce by the third quarter. In its "bull" forecast, the firm projects prices could get as high as $2,300 per ounce.
Posted at 23/11/2023 14:46 by stonedyou
Berenberg Bank Reaffirms “Buy” Rating for Pan African Resources (LON:PAF)

Posted by Defense World Staff on Nov 23rd, 2023


Berenberg Bank reaffirmed their buy rating on shares of Pan African Resources (LON:PAF – Free Report) in a report released on Wednesday morning, MarketBeat.com reports. The brokerage currently has a GBX 25 ($0.31) price target on the stock.

Pan African Resources Price Performance
PAF stock opened at GBX 16.44 ($0.21) on Wednesday. The stock has a market capitalization of £315.65 million, a PE ratio of 544.00, a price-to-earnings-growth ratio of 8.95 and a beta of 0.75. The company’s 50-day moving average is GBX 15.40 and its 200-day moving average is GBX 14.59. The company has a debt-to-equity ratio of 19.29, a current ratio of 0.79 and a quick ratio of 0.74. Pan African Resources has a 1 year low of GBX 11.73 ($0.15) and a 1 year high of GBX 20.90 ($0.26).


The business also recently disclosed a dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Thursday, November 30th will be given a dividend of GBX 0.75 ($0.01) per share. The ex-dividend date is Thursday, November 30th. This represents a dividend yield of 5.35%. Pan African Resources’s dividend payout ratio (DPR) is presently 3,333.33%.


Pan African Resources PLC engages in the mining, extraction, production, and sale of gold in South Africa. The company's flagship projects include the Barberton Mines that consists of three underground mines, including Fairview, Sheba, and Consort located in the Barberton Greenstone Belt; and Elikhulu tailings retreatment plant in Southern Africa.
Posted at 22/11/2023 10:29 by stonedyou
Pan African Resources positioned for 'excellent results’ thanks to improving gold volumes.

Published: 08:11 22 Nov 2023


Pan African Resources PLC (AIM:PAF, OTCQX:PAFRY, JSE:PAN, OTCQX:PAFRF) (PAF) is positioned to deliver "excellent results" for the full financial year, chief executive Cobus Loots told investors.

The gold miner, in an interim production report released today, said half-year gold output was between 94,000 and 98,000 ounces – representing a 2% to 6% improvement on the same period a year ago.

Operationally, PAF said it is performing in line or better than anticipated across it portfolio.

The Barberton mine yielded 37,000 to 38,000 ounces, with a switch to continuous mining operations providing higher tonnage and grades, whilst the Evander mines contributed 20,000 to 21,000 ounces which was also an improvement helped by grade and improved "conveyor availability".

At the Elikhulu tailings, the company produced 27,000 to 28,000 ounces. Meanwhile, Evander surface operations yielded 2,000 ounces and tailings retreatment at Barberton contributed a further 8,000 to 9,000 ounces.

For the full year, PAF is now expecting production in the range of 180,000 to 190,000 ounces, up slightly from prior guidance of 178,000 to 190,000.

“The expected production performance for the half year to December 2023 positions the group to deliver excellent results for the full financial year,” said Loots.

“The continued momentum with the construction of the MTR plant at the group’s Mintails project is again testament to our track record of bringing world class tailings retreatment projects to account.

“MTR is expected to commence production at the end of 2024, and will add some 50,000 oz/yr to group production, increasing our annual output by some 25%.”
Posted at 13/11/2023 17:23 by justiceforthemany
If you're a shareholder here and want the share price to rise then email Investor Relations because the share price consistently closes at a lower price than the JSE in SA. There is blatant manipulation going on here keeping the share price suppressed.

Why is PAF trading at just 3-4x P/E?

Email
hhira@paf.co.za
Posted at 20/9/2023 11:37 by justiceforthemany
EDISON RESEARCH
Valuation: Cheap by any measure

Despite making a number of adjustments to our model to reflect updated circumstances, as well as guidance, our core (absolute) valuation of the company remains almost unchanged at 34.59c (cf 34.24c previously), based on projects either sanctioned or already in production. However, this valuation rises by a further 18.59–23.61c if other assets (eg Egoli) are also taken into account. Alternatively, if PAF’s historical average price to normalised HEPS ratio of 8.4x in the period FY10–23 is applied to our FY24 and FY25 forecasts, it implies a share price of 36.29p in FY24, followed by one of 38.22p in FY25. As such, PAF’s current share price of 14.28p could be interpreted as discounting normalised HEPS falling to 2.12c per share (cf 5.40c/share and 5.69c/share for FY24 and FY25 forecast, respectively). In the meantime, PAF remains cheaper than its principal London- and South African-listed gold mining peers on at least 94% of commonly used valuation measures if Edison’s forecasts are used and 86% of the same measures if consensus forecasts are used, which collectively imply a share price of 27.24p on the basis of our year one EPS and 35.17p based on our year two EPS. Finally, we estimate that PAF has the sixth highest dividend yield of any precious metals mining company, globally (cf the 10th highest previously). In the meantime, its enterprise value equates to just US$9.41 per resource ounce of gold.
Posted at 14/6/2023 15:23 by justiceforthemany
Valuation: Still closer to 30p than 20p

Notwithstanding our earnings forecast reduction, PAF remains cheap relative to both its historical trading record and its peers. Our core (absolute) valuation of the company has risen by 4.8% to 34.17c (cf 32.59c previously), based on projects either sanctioned or already in production, with all of the increase effectively attributable to the recent decline in the value of the rand against the US dollar. Moreover, this valuation rises by a further 17.06–22.08c (16.09–21.11c preciously) once other assets (eg Egoli) are also taken into account. Alternatively, if PAF’s historical average price to normalised HEPS ratio of 8.6x in the period FY10–22 is applied to our FY23 and FY24 forecasts, it implies a share price of 26.56p in FY23 (cf 29.53p previously), followed by one of 32.74p in FY24. As such, PAF’s current share price of 13.50p could be interpreted as discounting normalised HEPS falling to 1.94c per share in FY23. In the meantime, PAF remains cheaper than its principal London- and South African-listed gold mining peers on at least 83% of commonly used valuation measures, which collectively imply a share price of 35.06p in FY23 and one of 35.09p in FY24. Finally, we estimate that PAF still has the 13th highest dividend yield of any precious metals mining company, globally.
Posted at 03/3/2023 16:15 by stonedyou
Valuation: Closer to 30p than 20p

Pan African is cheap!*!*!

relative to both its historical trading record and its peers. Our core (absolute) valuation of the company has risen by 4.1% to 32.59c (cf 31.30c previously), based on projects either sanctioned or already in production. However, this valuation rises by a further 16.09–21.11c (13.30–17.45p) once other assets (eg Egoli) are also taken into account. Alternatively, if Pan African’s historical average price to normalised HEPS ratio of 8.6x in the period FY10–22 is applied to our FY23 and FY24 forecasts, it implies a share price of 29.53p in FY23, followed by 30.49p in FY24. As such, PAF’s current share price of 14.60p could be interpreted as discounting normalised HEPS falling to 2.13c/share (cf 4.44c recorded in FY22 and 4.17c forecast in FY23). In the meantime, PAF remains cheaper than its principal London- and JSE-listed gold mining peers on at least 86% of commonly used valuation measures, which collectively imply a share price of 36.8p in FY23 and one of 33.3p in FY24. Finally, in FY23, Pan African still has the 11th highest dividend yield of any precious metals mining company, globally.
Pan African Resources share price data is direct from the London Stock Exchange

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