I cannot say that PAF are stronger or less strong than in earlier times; there have been many changes over the years, including changes in management. Jan Nelson held the company on a steady course whilst he was on the BoD. It seems that the newer guys are carrying on in the same style. The resource portfolio changes all the time and, as they have said, they sold off some to other mining companies to then develop, for cash, which then enhanced the results last time. Comparison of new results against the previous results is misleading without knowing the facts behind them. The company will have a good idea what the grades of ore are, that they about to mine and, it seems, they have been working through some poorer grades to get to better grades of ore beyond. This (also) has caused the latest Results to look poor in comparison with the previous Results. Historically PAF have had less industrial accidents than other miners in SA, AND they have had less labour relations trouble; this shows that their management style works. Moving on to your comments regarding another financial crash, and where the gold price might go when it happens. The fall of the Pound and the Dollar has been debated long and hard and the situation is so complex that probably no-one can say when, or how hard, the fall will be. Some people have advocated putting most of one's assets into real gold (and silver), but such advice has been around for years with the 2008 crash seeing a big lift in the gold price for a short time only. For me, the important thing to consider with investing in a miner, is the cost-to-mine/sale price ratio. As long as that looks to remain on the positive side the company (and thus its share price) should not give cause for concern. Investing in PAF gives some exposure to the Rand as its costs will be partly (mostly?) in Rand whilst income is in $. That makes reporting the Accounts in £ subject to currency fluctuations. Now, if the dollar was to lose all (or some) of its status as the world's reserve currency it will be a whole different ball game. Should the price of gold realy lift off then the mining, and transport of the product will present massive security costs to companies like PAF, thus balancing that cost/sales ratio in a way that most private investors might not consider.
yes your correct it needs approval by shareholders at the annual general meeting in November 2014 , but I presume it will pass . with you being in and out over the last 10 yrs , would you say PAF are in a better position now than when you last was a holder ? . I was attracted to PAF because of the evander mine helping to grow the company , here and HOC have been like you my exposure to gold /silver as I had none in my portfolio and believe it's a good time to start building holdings for the move back north in both metals . you look at that debt clock in the US and it's laughable that gold is at $1230 , UK debt increased by 500 billion approx. over last 5 years , can't even mention Japan's QE to infinity and then we have Europe and Russia (under sanctions ) and then China hmmm . http://www.telegraph.co.uk/finance/markets/questor/11187002/Stock-markets-threatened-by-collapse-in-Chinese-consumer-demand.html . looks good for gold when it does pop . re-rate in gold to cover all the money floating around would be a ridiculous price , interesting the Swiss are voting on 20% gold standard on there currency , if yes and all others have to follow (likely) . what price gold ? well 10,000 gets banded about as to where gold should be to represent the money currently ( I would say higher because of the amount of QE world wide ) , that would still mean at 20% gold standard a gold price of $2000 , total theory with unfound numbers but gives an idea of where gold price will at least be at some point in the future. markets at some point get near real value , usually when the manipulation gets too hard to hide the true value , we have a crash , another major crash looms imv , the distortion of true prices is at a peak or nearing it imv . I think the gold and silver train is about the start moving . roll on 2015 ,higher grade at evander and higher gold price . it's a very quiet board here .
23 Oct '14
According to the Hargreaves Lansdown website, the dividend for 2013 was 0.80305 pence per share and it was paid on 20 December 2013 (the ex-dividend date being 4 December 2013). That website does not yet show any payment for 2014. PAF's website mentions the 2014 dividend declared thus:- - "The group has proposed a final dividend of ZAR0.1410 or approximately 0.7898p7 per share or ZAR258.0 million (approximately GBP14.5 million) for approval by shareholders at the annual general meeting in November 2014." That suggests that the 2014 dividend is yet to be approved at the AGM in November 2014; if it is then they will likely pay it in December. Based on that I have now bought back in (12:55pm) at a cost of 11.75p per share, making a total (net of fees) cost of £978.07. A recent look a the trades page reveals my trade is still absent from that list. I have been in and out of PAF for over 10 years, and my experience of the company is that they have always been transparent; in fact they have tended to overstate the bad news and understate the good. Based on that, I am back in 1/ because I have no exposure to gold (so it is a 'just in case' buy). 2/ For the dividend (it's in my SIPP) 3/ for a recovery in the price (the drop in cash due to paying out the dividend in December 2014, may already be in the price). It looks as though someone with a lot more cash than me has had the same thoughts, having invested £31k yesterday.
20 Oct '14
yes they paid 0.79p june 2014 , gold slightly on the move up , any short position is less than 0.5% , but there is a seller happy to let these go @ 11.5p it seems . as long as gold keeps rising ,paf will follow once the seller finishes. you'd think now was a good time not to sell considering the uncertainties in the main markets.
19 Oct '14
last years div ?
did PAF pay a dividend last year ? morningstar website is showing dividend as zero and also i just went through 2013 accounts and did not see a div payment ?
14 Oct '14
charts looking good
http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:triple_bottom_reversal . Triple Bottom Reversals that are 6 or more months in duration represent major bottoms and a price target is less likely to be effective . a break above 16.5p will confirm a TBR . Broken resistance becomes potential support, and there is sometimes a test of this newfound support level with the first correction . would be nice if we can get confirmation as then a possible 21p target or more . not suggesting it will move quickly to test 16.5p it will most likely be over a month or that it will even hit 16.5p , gold will need to keep rising but it too has a TBR possible forming like here , the dollar will need to weaken further which is possible looking at the dollar index , now 85 but has been below 80 in the last year . could gold miners fortunes be taking a turn for the better ? lets hope so but on the other foot it could be a false alarm but does make the next few days / weeks more interesting . a move below 11.75 would not be so good if it was for more than a few days but I just can't see it , this slight fall back is re-testing support and I expect it to move back higher . gl all
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