Member Info for Bustard

Who knows what tomorrow holds?

But I have a feeling it’s going to be interesting….

Let’s hope profitable🤞🏻🤞🏻

Fascinating if true, Viable.

I’ve never used them because so often, material falls are transitory.

For example: just look at what happened to US stock prices on, and in the months after. Trump’s so called Liberation Day.

"made a ton"..."life changing amount"

FANTASTIC!!!

CONGRATULATIONS!

🥂🥂🥂🥂🥂🥂🥂

Will miss you Payryk!

Good luck with your other bets!

Call me mad, Team , but I just bought another 100,000 shares at a all in cost of 88.77p (inc costs and stamp duty).

Conviction purchase - I'll blame you, Mike, if it goes wrong.😂

50% of what the CEO sold....😂😂😂

The shares will be traded on the main London market from this Friday, 8.00am

There's a short video at https://www.panafricanresources.com/investors/main-market-listing-lse/

I think (but am not certain) that this is the prospectus which is referred to in the RNS announcement - I can't find a written document but may be incorrect. As this video includes production and cost forecasts I believe it is classed as a prospectus.

The CEO selling 200,000 shares Oct 17 and announced this morning hasn't helped sentiment.

The other 3 gold shares I monitor are all up substantially this morning....

....Hmmmm

PS. I entirely agree with Mike’s comments below which you will read are very consistent with my own.

What I like about this business in particular is:

• Good management

• Excellent strategic plan with good execution

• Expanding production ( - as Mike explains.) a big big plus, which if all goes well, will result in growing profits over the next several years.

• Good cost control

And all this in the context of a rapidly rising gold price. Unfortunately, the volatility of the gold price is hiding the underlying improvements in the business and causes the share price to be a very exciting, but sometimes alarming, ride. The market hasn’t yet properly recognised Just how the profits in the future should climb over the next few years. That is the value opportunity as far as we shareholders go.

But, to end with a warning, there are also lots of pitfalls potential unforeseen disasters, not least the price of gold holding up. And it’s these which will hold back the share price until the company delivers.

Heading back to Blighty tomorrow after a week fishing in the Amazon jungle.

A few observations on PAF:

a. My profit forecasts for ‘26 are very similar to those of Mike. Lots of ifs and buts, but £1 will look cheap if our numbers come anywhere near true and the gold price doesn’t tank. It doesn’t need to go up anymore; indeed I would prefer it to just be steady for the next 18 months or more.

b. I’m long in this stock and haven’t sold any and don’t plan to do so for a while yet. PAF represents about 20% of my equity portfolio, but I’ve always believed in being fairly concentrated. I recognise this is higher risk and higher reward. I’m also sitting now on a very substantial profit, but that makes me less worried about the price falling. Even if it were to drop by 20 or 30%, I’d still be very considerably in front.

c. On balance, I believe there’s far more upside in the shares then downside. Ie. The risk reward ratio is much more in favour of the price going up than down. But we mustn’t lose sight of the fact that s**t does happen; South Africa is a basket case, production could get disrupted somewhere, the gold price could plummet, et cetera et cetera. So this stock is not for widows and orphans.

d. The fall on Friday was a bit disappointing, but corrections are inevitable. I only own one gold stock but monitor four. We are doing the best of them. Since August 1, PAF up 61%, KGC up 47%, NEM up 44%, AGI up 34%. All were pummelled on Friday.

e. Thus most of the rise we have achieved has been on the back of the rising gold price; not that we are an exceptional company relative to the others. What we are still not getting is full credit for further production coming online, the excellent strategic move into Australia, likely booming profits and the first class management of the business. We’ve probably had a bit of credit for the move to the main market, but with a bit of luck that will provide another boost in a few weeks time.

So I remain optimistic. Bumps in the road and corrections are a normal part of the process.

(I dictated this, so please excuse any gobbledygook))

No need to worry.

PAF will soon be over £1 and will continue to climb steadily, if bumpily, for a while yet.

Enjoying watching the share price from Bolivia

I imagine we’ll get an announcement shortly about the precise date of the move to the main market. (unless someone tells me we’ve had it already?)

I’m certainly looking forward to the switch which can only be positive.

In the meantime, £1 is well within our sights.

Have a look at Payara

https://www.amazon-angler.com/species/payara/

They have great teeth

I’ve caught them and pirhana.

Thanks viable.

I have caught arapaima - but I always release everything.

Mine was about 2m.

I’m after golden Dorado this time.

All on fly rod. 😊😊😊

I shouldn’t be at all surprised if gold goes past $5000. In the next 12 months. Maybe sooner. It’s on such a tear. FOMO and government purchases are driving things on. How much beyond $5000 I don’t know.

Of course crypto in some ways replaced gold as a safe haven but maybe we’ll see funds leaving bitcoin etc and pump Au even further?

All guesswork, but the stars are aligned at the moment

Thanks Mike

I’m fishing in the Amazon basin, so low.

The guides hand out the leaves……

Writing this high over the Atlantic, heading for Lima before an onward flight to Santa Cruz in the Bolivian jungle. Thought I’d add a little bit of colour to our correspondence…..

Charles is bang on the money with his communication strategy. The company are getting better, but they are not yet great.

Quarterly production figures would be marvellous.

I’ve wondered whether the company is tempted to hedge some proportion of their output. I’m sure it will be discussed on the board.

I would probably support a formulaic approach for some proportion of production, but not one where discretion was used. I think that’s a fool game.

Very good question, Patryk

There’s that famous quote, attributed to someone that I can’t remember, which goes along the lines of “ How did you get so rich?” – reply - “by selling too soon”

I always found that a very difficult thing to do and I tend to be an investor for the long term.

I pretty confident that PAF has excellent management, a very good strategy, is diversifying sensibly and isn’t tempted by crazy acquisitions. I particularly like the tailings aspect of the business And what appears to be very good cost control. Corbus Is a chartered accountant, which I regard as a strength.

The gold price increase has given us a wonderful ride. And while it will probably go up more, it will also probably over-shoot and then come back.

Anyhow, at somewhere around the current Au levels, this company is an incredible money printer and I can’t believe the share price still hasn’t got much more to go once this is properly understood. I think it’s more than capable of doubling over the next 12 months or so. Another way of expressing the risk is that I think it’s much more likely to double than halve.

Tangently, I’m not impressed with our brokers – it would be great if we got someone with more heft to push the shares. But I believe eventually, the market will figure out what we figured out.

So, simply put, and knowing what I know from my research into the company, and reading what some of us write here, if didn’t own any shares, I would buy them now.

But I’m now sitting on a very substantial number of shares, representing perhaps 20% of my stock market investments. Some people would think that is mad, but I believe in concentration, rather than too much diversification. My average purchase price is 37p so I’ve also got a very nice profit.

But I plan to sit tight for a while yet and watch what happens. It’s impossible to sell out the top and I’ve just got a gut feeling that this company could go a long way yet. But it’s not for widows and orphans.

I’d love to know what production is likely to be like in 2027 et cetera.

Hi Patryk

I doubt very much indeed that any slow down in the increase in the share price has anything to do with the main market move. Indeed, since that announcement, the stock price has been turbocharged.

No science, but I monitor 4 gold shares, And I am only invested in PAF

Since August 3, the movements have been:

PAF. +66.5%

KGC +47.8%

NEM. +37.4%

AGI. + 31.3%

Pretty random sample, but we’re winning there. No doubt there are others which have done better.

We just need to be patient.

Per FT this am:

“Goldman Sachs on Tuesday raised its target price to $4,900 per troy ounce, from $4,300, citing central bank buying and ETF inflows.”

Thanks for this link, Viable. You’re mine (sic) of valuable information.

It is a marvellous article and entirely consistent with what Mike, me, you, Patryk and others have been writing. 😊😊😊

I agree with Patrick that the share could be over a pound fairly soon. And it’s hard to believe that it’s not going to go up considerably further. But I urge a bit of patience because it’s best not to get too excited, and hubris always proceeds nemesis.