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One could argue a fair SP here is actually close to 100p, giving 10x earnings. Seems ridiculous perhaps at the moment but look what happened to Sylvania Platinum; it soared from 20p in 2019 and hit 140p in 2021.
Gold spot price $2,353
AISC $1,325
With Mintails annual production c. 240,000
Pre-tax annual profit c. $250M
EPS (pre-tax) 10p
Forward P/E of just TWO!
So that's well over 1,000 USD profit per ounce now for PAF. Hope they are selling a good amount here.
Just bought another 3.2k of Paf 23.06 averaging up...honestly can't see anywhere else where to put mu money atm.
...bang on time new record high. Mind you this is coming with Chinese market closed.....not sure what to make out of it, possible push high for retrace comes tomorrow CPI showing sticky inflation data?!
All will be revealed, nevertheless POG is very resilient everyone talking about $2500 coming.....
..just looking as I type at the POG to make new record high...
23p is being a tough nut to crack!! Once that’s broken should fly North, paf is currently a coiled spring… wish the News flow here improved…
imv we are due a rerate soon.
awaiting an upgrade on production guidance to erase recent downward pressure on sp.
indeed i like to compare paf with resolution m. similar geographical risk and operations.
roughly at current pog forward pe from my pack of *** calculations is 4 and 3 respectively and although surely there is a political risk attached to both, i definitely see res more risky that paf.
their graph comparison since 2024 show definitely a better sp appreciation for paf if wasn't for recent downward correction due to trimming production guidance, this is changing but the market has not registered this yet imv.
need a positive announcement to rebalance sentiments possibly a sp rerate going to next financials by end of may..
most gold miners out there are reaching key resistance levels and with fear of a pog correction there may not be much upside potential for now, time for consolidation....
looking forward for wednesday us cpi, any low numbers could give new push higher...but i am not counting on it.
it would be interesting to see how pog reacts even if cpi disappoint.
PAF hasn't performed terribly at this stage, certainly RSG and HOC are attracting more interest right now. Generally the more risk attached and the higher the AISC then the greater the volatility. PAF are keeping up with the likes of FRES, CEY, GFM, WPM, EDV, ADT1 but of course they pay a larger dividend than all of the above and should be well placed to increase it from here with gold trading $400 higher than the average gold price received during the prior 6 month period ($1,961/oz)
I was in EDV and got out, with all this low AISC they hardly ever managed to make a profit....why?
Too big of a company with many operations including explorations and capex, who know where all this $milliong are going, doggy company IMO.
Can't see much upside from here, unless they come out with a decent profit. last year earnings of $230millions on a current $7.2 billions...you do the matts. PE 31
Mind you with current POG anything can go up...awaiting for PAF results and news of revise production guidance.
If anything I am looking at Resolution but tbh I am way overexposed to Gold right now, all gold shares with some cash in reserve to average down just in case....
I am in PAF and EDV. EDV AISC below a thousand and directors have bought in. Also, EDV are well below their top S.P.
Noticed POG trend rising every night for the last few days at 2AM
The POG is flying and not far off meaning PAF could earn $1000 for each ounce as profit !
The prospect of $190m (£151m) profit and a current market cap of £430m is a P/E of 2.85
Just saying....
The rolling P/E for PAF is 5.9 compared to 12.8 for EDV.
PAF meets three of the long screens on Stockp.... whilst EDV doesn't meet any, though there's a case for holding EDV as well as other Gold miners as it appears that the rising tide is lifting all ships at the moment. There's an excellent article in Bloomb.... this evening "The Gold Market Hunts for Answers Behind Bullion’s Sudden Surge" which explores all the possible reasons for Golds rise, there are more than a few, but none really definitive.
Endeavour's P/È is also around 17 vs just 4 for this.
Endeavour''s the one with the corrupt, fraudulent CEO right?
Looked at it - far too much debt.
Not for me.
Https://www.moneyweb.co.za/news/south-africa/how-eskom-defeated-load-shedding-for-now/
Make it 2346
the only one in red out of 20 UK quoted gold miners in my watch portfolio
and to think that I valued PAF the best out of those 20, I have no words.
Mind you I noticed PAF tend to go up on negative POG days...
still patience required here, production increasing soon, maybe next announcement also
coming with upward revision of current guidance. Paf tend to move in burst up or down
not gradually...
Anyhow POG up with NFP beating expectation and USD up, at this rate could be $3000/oz this year.
That would be interesting times...me just dreaming.
Buy the dips I did today again at 22.03 but Endeavour the place to be got a feeling AAZ will fly soon with its Q1 soon
WTF!
..and again today markets suddenly turn negative and POG rise to new high....
If this is the underlining trend beside rate cuts, with market hovering at the top
POG could go ballistic.
Https://www.miningreview.com/gold/tailings-retreatment-mogale-heads-for-year-end-start-up/
"The life of the Mogale plant will very likely be extended from 13 years to 21 years once Pan African starts to mine the Soweto Cluster TSFs. The total resource they contain is estimated at 133.5 Mt at 0.31 g/t for 1.35 Moz of gold and the reserve at 108.3 Mt at 0.26 g/t for 982 koz of gold."
"Once the MTR is commissioned, Pan African’s annual gold production will be increased by around 25%. The company is expecting to produce between 180 and 190 koz in FY-2024 (to 30 June 2024) with this increasing to as much as 220-250 koz in FY-2025 and FY-2026 on the back of the MTR project’s output.'
"The attractive economics of the Mogale Gold TSFs were highlighted by an independent DFS, completed by DRA Global, the results of which were announced in June 2022. According to the DFS, the project delivers a pre-tax NPV (9.5%) of US$65 million and a real ungeared IRR of 20.1% at a gold price of US$1 750/oz, with these figures rising respectively to US$88 million and 23.0% at a gold price of US$1 906/oz."
"He adds that the project will also contribute to bringing down the company’s overall AISC. “Tailings retreatment is a low-cost process compared with the underground mining that we undertake at Evander and Barberton, so a higher proportion of production coming from tailings obviously drives down our average cost of production,” he explains."
..a steady rise from 1pm low at 2290 and keep going 2318.60 new all time high every day...wow
I am looking at POG $2317/oz on the futures
Think that's two 5M buys at 23p from this morning. POG also still looking good...$2,294 at time of writing...