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
  0.10 0.89% 11.28 3,285,049 16:35:07
Bid Price Offer Price High Price Low Price Open Price
11.16 11.28 11.28 10.72 11.10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 108.50 9.40 -5.15 252
Last Trade Time Trade Type Trade Size Trade Price Currency
17:51:06 O 1,940,000 11.28 GBX

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Date Time Title Posts
16/10/201901:30Pan African Resources for 2006 (PAF) Moderated10,920
16/11/201521:02Pan African Resources1
14/11/201509:10Pan African Resources-
13/10/201412:52Evander grade nadir portends future growth-
12/12/201211:22PAF - Another over-ramped,over-valued stock biting the dust78

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Pan African Resources Daily Update: Pan African Resources Plc is listed in the Mining sector of the London Stock Exchange with ticker PAF. The last closing price for Pan African Resources was 11.18p.
Pan African Resources Plc has a 4 week average price of 10.72p and a 12 week average price of 10.72p.
The 1 year high share price is 14.50p while the 1 year low share price is currently 7.85p.
There are currently 2,234,687,537 shares in issue and the average daily traded volume is 1,307,351 shares. The market capitalisation of Pan African Resources Plc is £252,072,754.17.
frazboy: Yep - for share price appreciation we simply need the gold price to hold up and the production forecast to be met for this year so that the company can degear - it'll be a different animal at that point.As a previous poster noted we're nearly 4 months in and, as far as we know, so far so good
justiceforthemany: Very surprised by the downward trend here. At 11p shares are trading at an insane 3x earnings. Dividend also restored. ZAR gold close to all time highs. Political risks yes in SA but I doubt the directors x3 including CEO and Chairman would be buying if any imminent risk. PAF should arguably be trading at 3x the current share price.
ntv: gold price back to over R730k per kilo Last time time it was at this price PAF share price was about 13.75p Just shows nobody wants to buy anything
macthepak: Gold price in SA Rand = 22,764 +81 +0.36% Gold price in US dollars = 1,531 +7.4 +0.49% If the gold price stays like this then expect PAF share increase of 0.20p to 0.40p To get back over 14p per PAF share price we need a SA Rand price for gold in excess of 23,500 ZAR per Oz
macthepak: The best indicator as to the movement of the share price I have found is gold price in South African Rand. If the price of gold in Rand increases the share price of PAF increases. If the price of gold in dollar increases and the price in Rand decreases the share price usually falls i.e. follow the Rand price. What I do now when I get up at around 07:00am I check the gold price in Rand if it is up then PAF share price will either stay put or rise at 08:00am when trading starts.
atino: Pan African Resources recovery has legs | by John Cornford 05 August 2019 With problems at its Evander mine behind it, shares in gold miner Pan African Resources are in recovery mode and could have further to go, writes John Cornford. Let’s hope readers benefited from my gold article last month. Its rise has floated most listed gold boats higher, particularly in London where gold is now at an all-time high (in sterling terms) following the pound’s fall (£1,167 per troy ounce vs £1,150 in September 2011). Meanwhile, the dollar price for North American listed stocks is still 22% below its same $1,820 peak. And interesting that my one reservation (because it’s actually a silver miner and the silver price is dull), Ariana, has fallen by 20%. (Although perhaps investors have a dim view of Turkey.) That rise in pound terms flags the question whether UK investors might have been pushing up UK based gold shares further than warranted if gold stutters or sterling recovers. Bear in mind that the ‘real’ world gold price is set, not in the US or London, but by demand and costs in mining countries, and by central banks in China and Russia who, it is said, have been leading this year’s rush into gold. Anyway, that introduces my two gold shares this month, both recently strong but one of which I believe will outperform whatever gold or the dollar does, and the other of which I believe looks slightly vulnerable in any scenario. My buy is Pan African Resources (LON:PAF), market cap: £270m @12.1p 🙇 Unlike the junior miners I usually cover, aiming to spot the phase when their often sole mining project is about to reap rewards from starting production after years of spending, and when investors have seen their early support dented by constant fund raisings and diluted share prices, larger miners have portfolios of projects where the skill is to juggle spending across developing and producing mines to ensure a more even flow of total profits. PAF comes somewhere in between, with its share history demonstrating how the differing performance of its relatively few projects has affected the total, but also the success of a strategy that saw its sub 3p debut price on AIM in 2004 peak at 21p in 2013, and then 23p in 2016, before problems arose (soon to be past history) in one of its acquisitions. Pan African Resources – last five years Pan African Resources share price PAF started out to build value through exploration in Africa’s gold deposits, and then to use shares boosted by any success to acquire mines already in or near production, whose cash flow could be ploughed back into development and more acquisitions. That strategy delivered rising profits without any need for borrowings, and enabled PAF, unusually for an early stage miner, to pay dividends, a policy which remains a key objective and is a major reason for my interest now. The first fruit of this strategy was the acquisition in 2007, cheaply for shares, of the prolifically cash generating Barberton Mines in the Eastern Transvaal, from conglomerate Metorex who was desperate to limit its exposure to the trouble then brewing in the world economy. After 130 years, Barberton still has a long life remaining which is being augmented by expansion into new mining areas, and has some of the world’s highest gold grades. As is always a risk in mining however, PAF’s second key acquisition that had looked so promising in 2013, the Evander Gold Mines, bought cheaply from mining giant Harmony Gold (who said it needed the cash for a better project, although must have known it was selling PAF a bit of a pup) failed to become the ‘game changer’ that PAF had hoped for. That was because, while Evander still has much gold still in the ground, its old infrastructure turned out to need more spending than PAF felt justified in light of the then falling gold price, so that in 2018 the decision was made to close its underground workings. That followed a few years of disappointing performance where from a peak of 73,416 ounces in 2016 (87% of Barberton’s), Evander’s underground production fell to 48,565 oz in 2018, and this year (to June 2019) will be only around 20,000 after its closure. But against that, after further investment a more profitable tailings plant at the site has come into operation and will eventually almost completely replace previous production levels and add almost 50% to Barberton’s. Those Evander problems caused overall profits to fall drastically in 2018 even before a large exceptional charge to close the mine, so that PAF’s overall earnings fell to a 5.15p loss per share, while the previous year’s 0.45p dividend was foregone. Now, with the rapidly growing new tailings operation, and Barberton expanding and more efficient, Edison estimates that 2019 profits will have recovered enough to at least partly restore the dividend, with full restoration and possibly more in 2020 after a further sharp increase in available cash now that the closure and tailings construction is complete. That estimate is based on a $1,305/oz gold price, so if the present $1,414/oz is maintained there will be a further boost, in which case Edison’s forecast of a 0.56p dividend would deliver a 4.8% yield at the present 11.5p share price. By then however, we would expect the shares to be considerably higher with the prospect of an even larger dividend. Note from the chart the relatively low volume so far in this recovery phase. I think that is reassuring. Spikes in share prices are definitely not to be chased.
macthepak: From at 15:18 15.10.2018 Gold price in Rand 17,710.79 down -89.64 -0.50% since London opening today. So the gold price is up a few dollars over the last few days, no big deal I am looking for a sustained rises not spikes just because a few people have been spooked by the decline in stock market valuations. What we need is steady rise in gold prices and a steady rise in PAF share price.
macthepak: Part of the reason for the fall was the strength of the rand v the US dollar. Over the last few weeks the rand has fallen against the dollar. Hopefully the rand will continue to weaken and this will be reflected in a rising PAF share price.
coxsmn: Paf share price will re-rate once the interim results are out next month.dyor,coxsmn
master rsi: Gold price a bit down today as the Dollar has recovered from yesterday large fall and that is why the Gold price spike yesterday. PAF share price is back to the more normal 16 v 16.25p after the manipulation on the order book at the end of the day with a UT of 15.75p yesterday There are plenty of trades at the spread at the moment since 8:49am, when an "AT" was taken. Nevertheless the DEPTH is very strong on the bid side 45 v 25
Pan African Resources share price data is direct from the London Stock Exchange
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