. Friday could be a buy day , well it was an interesting day , Monday might be time to buy some more before gold heads higher , will be looking at charts etc over weekend .
I don't trade off charting but I get your points and the different style. A lot of sp value has been lost over the last couple of years even taking into account the gold price fall from bad management. Spoke to Loots a while ago and was not impressed with his answer on hedging policy at PAF along with a total lack of ability to market the group in London. Holding is also not really pro-active. They do these zero cost collars but really Evander as a new acquisition going into a low grade cycle should have been fully hedged for 2 yrs. I sold half my holdings after getting the dividend. The remaining is a play on gold for the reasons you pick up on. The analyst call will be interesting and will enter this one to ask questions that the SA fund managers are probably asking in private. The re treatment plants are actually saving PAF from falling further. Check the remuneration packages at PAF. When you speak to these directors you realise how poor most are on AIM, and really they are just similar to someone running a small private UK company, but with silly salaries. Gold should really go to $1400 as the deflation answer has finally hit us and the lies of UK and Eurozone governments are out. Did think that the dollar would be the first safe haven call, then gold when it becomes clear that the debt is out of control. Of course the dollar is not strong off fundamentals, so when it tapers off gold should rise. Good luck.
sorry forgot to put this at the start in negative , The South African electricity supply is expected to remain constrained in the next year.
the negative from last rns , Pan African is currently finalising its unaudited interim results for the period ended 31 December 2014,which is anticipated to be released on or about 27 February 2014. . the positives The company is pleased to advise shareholders that the commissioning of the ETRP is on schedule and on budget, with 1st gold production expected during January 2015. The ETRP is expected to add an additional 10,000oz of gold production per annum at Evander Mines. As previously reported, Barberton Mines' Biox® plant was subject to oil contamination from a breakdown at the Fairview primary crusher. This set-back continued to impact operations during the current six month reporting period, however the Biox® plant recoveries had improved to approximately 96% by December 2014 (historically recoveries have been between 96% and 97%). The low grade mining cycle at Evander Mines is expected to continue until February 2015, where after the operation should return to higher grade mining. I sold all my holdings (core and trading) recently @ 13.25p but bought back my core holdings today @ 11.75 , I didn't want my core holdings out for too long with all the global mess now worst with Lebanon kicking off with Israel . the fomc meeting over and this gold / silver hit today might be as far or not much lower that they will be able to take it . gold is nearing a trendline chartwise ($1230 ish a PP) but possible rise over night ,so might just bounce back up if breaking back over $1258 . Friday could be a buy day with so much uncertainty at weekend and next week, people might look to gold instead of the dollar as a safe haven with the currency wars heating up , gold @ $1200 Paf was around the 12p mark and slightly lower when gold dipped under $1200 so 11.75 a good re-entry point I think for core holdings (I believe golds bottom has been put in when hitting $1132 on nov 7th) . if it does look like gold is going higher ( monthly chart looks good, weekly not as good and daily has dropping back to a mid point so it's either way ) I will buy more on way up with my trading cash but just in case it does drop further I still have my trading cash to avg down . jmo and adding 2+2 and getting 5 so don't be influenced by my take because it might be as good as my mathematics :-) .
23 Jan '15
RE: salz / fuelforlove
Thanks. Did see that. ERTP was due to go live on January 15th. PAF are going back to their old habits of not keeping a financial calendar. Another cracking line from Cobus Loots when asked about producing quarterly statements....."you know we don't release quarterly statements". Still wondering why we bought Peel Hunt on board. You could call the FT on Monday to offer a story about South African gold mining with gold on the rise again. They would offer a nice space for this. Unfortunately it is beyond the board at PAF to think of doing this. The PR firm in London is non existent. It was a company that did well in a rising gold market but has failed miserably since Evander. Looks like gold might make up for the inept board.
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