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Pan African Resources Plc

-0.04 (-0.28%)
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
  -0.04 -0.28% 14.22 2,975,150 16:35:29
Bid Price Offer Price High Price Low Price Open Price
14.32 14.44 14.80 14.24 14.30
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Diversified Investment Holding 376.37 74.95 3.40 3.57 272.53
Last Trade Time Trade Type Trade Size Trade Price Currency
18:00:00 O 117,357 14.22 GBX

Pan African Resources (PAF) Latest News (2)

Pan African Resources (PAF) Discussions and Chat

Pan African Resources Forums and Chat

Date Time Title Posts
01/6/202319:48Pan African Resources for 2006 (PAF) Moderated13,060
09/5/202312:33Pan African Resources a sleeping giant1,488
16/11/201521:02Pan African Resources1
14/11/201509:10Pan African Resources-
13/10/201412:52Evander grade nadir portends future growth-

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Pan African Resources (PAF) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2023-06-02 17:00:4614.22117,35716,688.17O
2023-06-02 16:48:4114.4681,70011,814.64O
2023-06-02 16:48:4114.67157,64023,117.91O
2023-06-02 16:27:0714.0010.14O
2023-06-02 16:26:3014.0010.14O

Pan African Resources (PAF) Top Chat Posts

Top Posts
Posted at 12/5/2023 21:26 by justiceforthemany
See below, current share price should be far higher.

Coupled with a strengthening dollar gold price, the price received for South African miners has increased 26% in the past 12 months. The rand gold price is currently at a shade under R1.2m per kilogram.

Shares in DRDGold, which processes gold from surface deposition sites, were trading at R24.14 per share – its highest level in two-and-a-half years. Harmony Gold also traded up to a fresh 12 month high of R99.74/share valuing the company at R61.7bn – an increase of 75% over the period.

Posted at 12/5/2023 07:40 by justiceforthemany
Lower Rand = higher margins for PAF
Why is the share price down?
Other SA listed gold miners soaring.

Posted at 04/5/2023 16:37 by justiceforthemany
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

Posted at 04/5/2023 16:24 by spaceavenger
Considering the gearing that could at least double the share price. What source?
Posted at 04/4/2023 12:56 by astjgroom
On the 2.04.19 I had GP at $1287 and zar vs dollar at 14.23. PAF was 9p...Looks like everything's moved a long way, GP 35%, zar vs dollar 20% and share price by 46%.
Posted at 09/3/2023 20:31 by astjgroom
Reply from PAF:Good dayThank you for your email. There will be some news out early next week that will clarify matters. We are all significant holders of PAF and equally concerned. While we cannot control the share price we endeavour to mine profitably, reduce costs and grow production in the longer term. We will keep shareholders informed.
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.

Posted at 03/3/2023 16:12 by stonedyou
Pan African Resources — Forecast upgrade

"We estimate that development of additional productive assets will increase PAF’s production to c 250koz in 2026"

Pan African Resources (PAF) announced its FY23 interim results in the context of

known production results and a JSE listing requirement paragraph 3(b) trading

statement that indicated both earnings per share and headline earnings per share

(HEPS) in the range 1.40–1.64c at the interim stage. In the event, HEPS and EPS for

the six-month period were exactly in the middle of the guided range at 1.52c/share.

In the wake of the H123 results, we have upgraded our forecast for normalised HEPS

for FY23 from 3.82c/share to 4.17c/share (assuming the gold price remains at

US$1,835/oz for the remainder of the year). NB Our upgrade would have been to

3.91c/share had our gold price forecast for the balance of the year remained

unchanged at US$1,749/oz. Further out, we estimate that development of additional

productive assets will increase PAF’s production to c 250koz in 2026 and its

normalised HEPS to c 6.00c/share.

Posted at 27/12/2022 14:57 by mrscruff
Hi I am new here but sold PAF in 2013 at the same or higher share price as today (maybe much more, there was equity raising I was involved in). I think I was right to be out of this and gold. Looking to re-enter gold now and was really disappointed with the lack of share price growth. As rubbish as PAF seemed I see net debt has been massively reduced since those days so...

This should result in dividend growth and the company must also do more regular distributions, but I have much to catch up on research-wise.

Posted at 30/8/2022 15:28 by stonedyou
Historical relative valuation

Exhibit 11 below depicts Pan African’s average share price in each of its financial

years from FY10 to FY21 and compares this with normalised headline earnings per share

(HEPS) in the same year. For FY22 and FY23, the current share price (19.60p) is

compared with our forecast normalised HEPS for FY22 to FY23. As is apparent from the

graph, Pan African’s price to normalised HEPS ratios of 5.2x and 5.5x for FY22 and

FY23, respectively, (based on our forecasts, see Exhibit 15) are very close to the

bottom of its recent historical range of 4.1–14.8x for the period FY10–21:

Stated alternatively, if Pan African’s average year one price to normalised EPS ratio of 8.9x for FY10–21 is

applied to our normalised earnings forecasts, then it implies a share price for Pan African of c 37.83p in

FY22 followed by 40.78p in FY23.

Pan African Resources share price data is direct from the London Stock Exchange
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