Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Hi Selpec, The Consort Mine is running using contractors, who are no doubt powering on especially with the POG, it was never shut.
https://www.panafricanresources.com/investors/company-presentations/
In the new presentation from April 10th it is mentioned slide 13 "Consort Mine – access to higher grade
areas will improve H2 performance, Work in progress to realise full impact of remedial measures at higher-cost operations (Consort and Sheba Mines)"
From interim results presentation slide 26 "Revise mine plan to access lower grade mining areas on 17 and 37 Levels – will lead to improved performance during H2 FY24".
Contract Mining : https://www.miningmx.com/news/gold/51906-pan-african-restructures-barberton-mines-amid-below-par-half-year-performance/
"Cobus Loots, CEO of Pan African said in the group’s interim operating report today the company had therefore decided to convert Consort Mine to a “contractor mining model” while continuous operations would be implemented at Fairview and Sheba...There would be no job losses as a result of implementing contractor mining at Consort Mine as employees would be transferred to Fairview and Sheba in line with increased shifts – a step that would reduce overtime costs."
There will be an operational update in the coming weeks, with guidance updated which the SP must clearly be indicating that we, the market, expect an increase like you say by 10k oz.
Figures are rather cautious considering market reaction last year. With POG = 2350$, Consort mine in PAF portfolio can be reactivated as profitable again. However it might have implication on average AISC. Actually I don’t know Cobus plans, but there are options to produce 190 - 200k this year if no major issues.
Hi BlueDefender
Yes, earnings or profit before taxes ie. for the gold, revenue minus the AISC.
I am not aware either, however that 180k-190k is PAF's guidance for the year of , so I used the mean of that being 185k.
So either PAF are expecting some sort of closure or lower production whilst works is carried out this half or their guidance is very very cautious.
Just to clarify G-NBC did you mean profits of $76.2m?
Also I think Cobus is low balling the second half production figures so there could well be a revised number.
I am not aware of any major works that need to be done to bring down the H2 to 86500oz from the H1 figure of 98000oz.
Different sector but also have a look at Surgical Innovations, ticker SUN. 100-200% upside. DYOR.
Hi all. Just some thoughts for discussion. CEY's quarterly results were not too good. Stand out figure for me was the average realised gold price of $2062, apparently pulled down by 19k oz out of 92.5k oz sold early in Jan.
For PAF sales, average POG Jan and Feb was around $2000, and March the average is around $2200, which makes $2066 the average over the quarter. So PAF's first quarter average sale price would actually be around the same at CEY's. Perhaps it's a good thing that H2 results for PAF come out in July, hopefully with the gold price sustaining above $2350 to end of June.
An estimate of PAF earnings Jan to March would be ( (Guidance of 185k for H2 - H1 production of 98.5k ) / 2 for the quarter = 43250oz ) x ( POG $2066 - AISC $1325 ) = $32m
For April to June with POG averaging $2350 would mean earnings of $44.3m making total H2 earnings of $76.2m.
Add that to the $42.6m from H1 makes total of $118m for the year, almost double last years $60.7m.
IMO we will be looking at a end of year dividend around 2 cents. 1.6p, which is not too shabby, but the real prize will be Mintails boosting 2025 and 2026 earnings to $150m or even higher and maybe a 2.5p / 3p dividend.
All the metrics here are ludicrously low, including the share price!
Hi BPat890. Good point about the 1/4 reporting from the sector. The bigger players making buoyant news will likely lift all producers and explorers as investors look for bargains within the sector, and given our P/E, PAF would surely be a comparative bargain.
Market sell off providing a clear buying opportunity here and across the sector. The price of gold has strengthened throughout the day and is back around $2,400/oz. Most gold producers are due to report on quarterly progress this month which should offer a glimpse of the increased margins we would expect following a $300-400 per ounce increase in the price of gold over the quarter.
Profits in the last half were $42.4m but net debt increased as a result of heavy investment. With the recent rise in the gold price the company has to be well ahead of internal profit forecasts now with the potential for an increase in the dividend.
All-in sustaining costs were $1,287 last time around and expected to be below $1,350 per ounce this year.
Fairview Mine's 8.75MW solar power commissioning expected by June.
Mogale tailings retreatment (MTR) project expected to reach steady-state production by December (50,000 ounces / annum).
Gold 2390 wonder what our profits are :) once financials are out we are above 30s…
Interesting day(s) ahead.
Chartwise, trend is in place but Gap could be filled with a drop down to 23.1 or support at 23.7.
FTSE is opening 100 points down and we've all seen how PAF can rise and fall with the general market tide.
However gold is still at record highs and PAF are raking it in.
IMO we're for another drift&consolidation before another leg up but I wouldn't bet loads on that.
Here's Gary Savage on market movements, https://www.youtube.com/watch?v=rN5OwNXXV1o
(He's been correct many many times hence how he has subscribers but saying that, he's still clearly not retired yet and believes in conspiracies due to his maths being poor, go figure)
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Question to investors on the forum. What is the portion of your portfolio in PAF? I try to keep it in the range 25 - 35%.
Gold trading back up to near record high at time of writing ( 8.15pm) - no real surprise, but the dips
https://tradingeconomics.com/commodity/gold
Seems decent value and bought some today for exposure to rising gold price.
Gas fee wait till the financials come out, we will see a huge leg upwards esp with Mintals around the corner, I’m not selling a share till we are in the 50s and I been riding this since 13p so well in profit. This is too cheap at these levels and current gold price.
Gold price had a profit take yesterday during the US opening, price went from the crazy highs of over $2400 back to the ridiculously high $2342. I was out in the world not watching but I guess the enthusiastic demand shown at midday eased off. That slice at 24.7 was good. I did one the other day at 23.5 (a limit order that I'd forgotten about when the price was around 18p executed) to buy back in at 23 the following morning. If PAF does retrace it might only go back to 24p.
IMO this rush isn't over. Gold miners have now well and truly appeared on investors radars last week. Any news release with an update on January to June H2 progress , we expect phenomenal figures.
"The bottom line is gold is extremely overbought today, warning of high risks for a sharp selloff. But even after rallying so far so fast, this powerful gold upleg still looks to have lots of room to run. Mostly fueled by big Chinese investment demand so far, gold-futures speculators have plenty of buying firepower left. And the American stock investors who drive monster gold uplegs haven’t even started chasing this momentum yet.
Though gold miners’ stocks are starting to catch up, they have greatly lagged gold’s big gains. That has left gold stocks anomalously low relative to gold, not materially overbought. But traders are increasingly returning as bullish financial-media coverage grows awareness. Deeply undervalued compared to gold, the gold stocks are likely to skyrocket again in another huge upleg like the last time gold achieved new records."
https://www.mining.com/web/gold-miners-overboughtness/
https://www.cbsnews.com/news/gold-investments-that-could-pay-off-with-inflation-rising/
https://www.sharecast.com/news/risers-and-fallers/ftse-250-movers-gold-miners-shine--16591650.html
Tangible Gold. Gold's impact in a bigger picture involves who owns it, the USA at Bretton Woods in 1944 had the reserves and could call how the future would be i.e. the Dollar was backed by Gold. Being a reserve currency bestows many bonuses. Russia is actively trying to reduce trade using Dollars. China resents the Dollar's reserve currency status and the free gifts that it bestows, such as exporting its inflation. China despite its statements re owning only 2,000T of Gold probably has around 30,000 T looking at past purchases and their own production which is not available for export. Gold is where it is at when the day ends.
Sliced today and sold 152,833 shares at 24.7572p. Nobody can predict world events and there's been a hell of an upwards run, so its probably prudent to take some profits. Sliced a few of several other Gold miners today; with the thought that a retrace may bring a dip worth buying into. Who knows what will happen?
well if ****coin - which has no intrinsic value at all - can go from $5,000 to $70,000 then why can't something real and tangible like gold?
I can see actually investors been suspicious about this meteoritic rise....
Thing is gold as asset can freely double from here without causing any major impact on economies, not like oil or ather commodities...
This is silly gold future at 2443 and climbing ????
Index up or down, USD up or down CPI.....Noting is stopping it.
Any retrace is short lived FOMO is here imo.
Earnings upgrades in order.
Those selling here are doing so with shares only trading at 3x forward earnings.
Question is can this repeat what Sylvania Platinum in 2021 when rhodium prices shot up as gold is doing now.
The thing is with miners not Truely following the gold share price is that the miners are an unloved sector that have struggled for a number of years. Wages and energy cost are high etc. But when updates come in with higher profits because of the high gold price investors should start to notice.
For me this is a long term hold off 5 years or more. I only see gold getting higher in time but with a small pull back and consolidation. I’ve loaded up in the last year to take advantage of the high dividend which has already returned 10% of my holdings. If people think the current gold price is good, wait 5 years and wonder what profits Paf will be making when gold is above 3000. And in the mean time, as long as gold stays above 2000 paf’s profits will still be good and the dividend will rise with the profits.
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