The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here.
Errr time to watch the sp plummet................. Perhaps a good time to buy in? or to much risk with current uncertainty.
Forgot to post this interview. Old news now and will be buried after the Brexit vote, but still worth a listen. http://www.proactiveinvestors.co.uk/companies/stocktube/5103/pan-african-ceo-jadeite-deal-hits-two-flies-with-one-swat-5103.html
Well well well, Brexit has landed.................. Yep still in CEY, PAF, HUM and POG and all in nice profit. Traded out in RRS for FRES for 20-30% profits, but failed in HOC, not quite break even and if held would now have doubled my money! Traded AUE for 32% profit after MNG announcement and bought more today @ 4.04p (but still a long way to go there to recoup my losses) I still have RRS FRES & HOC in my ISA's so very happy with decent profit so far. No metal bought, perhaps a missed opp. Cheers
Currently top of the leader board. No longer in my trading account, but in both mine and wifes' ISA's
Analysts expect a full-year profit of £31.4m in 2016. This equates to adjusted earnings of 1.8p per share, and puts Pan African on a forecast P/E of just 7.9. Unlike many gold miners, Pan African has been consistently profitable throughout the gold slump http://money.aol.co.uk/2016/06/01/can-royal-dutch-shell-plc--pan-african-resources-plc-extend-their-2016-gains/
After hawkish statements from the FED, the dollar has strengthened and the POG fallen. Big key level is the $1227-28 for support. But will the FED raise rates, IMO not a full gone conclusion. It is very rare for the FED to raise rates 6 months before an election! Good short interview https://www.tradingfloor.com/posts/why-now-may-be-the-time-to-buy-gold-hansen-7648397
IAE has had a good rise since beginning of year. I have remained in 2 oil stocks. HUR down 10% and FOG up 15% both of which are looking good for 2016, of course much dependant on the POO. Both no debt and both fully funded for drilling campaigns. FOG will never produce any oil itself, mission statement to be sold / bought out by a major, after oil reserves proven up.
China bank ICBC to buy London vault from Barclays that can hold up to 2000 tons. http://www.bbc.co.uk/news/business-36309062
Yes good video. Charlie certainly more cautious on gold but believes we are on the cusp of a gold bull run providing POG holds over $1260! Contrary to other, he believes there is currently no shortage in the availability of gold, hence the bull run will be a slow start. Q2 generally slightly bearish on gold Q3 July generally very good for gold! Interesting that Charlie is bullish on oil and believes circa $100 a barrel is the natural fall back position. Surely rising oil will bring on inflation with gold rising to boot.
Hi Yacht, I am in both. I have a small amount invested here and plan to hold for the medium / long term. Banksman is more of the expert here. This article from Master Investor is a good read (dated Jan 2016) http://masterinvestor.co.uk/commodities/yield-and-recovery-prospects-at-pan-african/ I have an even smaller amount invested in POG with the plan to hold short term. The debt is / was the problem there and so is a turn around story. Precious metal guru Amanda Van Dyke rates them though and this is what she recently said. Petropavlovsk (POG) is up 19% YTD. It is a 500k oz per year producer from Russia. The market cap is ~£250m, the “all in” sustaining costs are ~$800 per oz, and they should have £360m in net debt by the end of 2016 according to Factset.Centamin, its closest peer, also produces ~500k oz per year from Egypt, at an “all in” sustaining cost of ~$900/oz and £283m in net debt. It’s up 62% YTD and has a market cap of £1.2bn. Across the pond B2 Gold a Canadian company, also producing 500k oz has an all in sustaining cost of $900/oz, $672m in net debt, and a C$2,250m market cap or around £1,200m. It is up 74% YTD. Petropavlovsk has had its problems. Management had to do an emergency fund raise at the depths of the bear market and had to restructure their what used to be horrible debt. Up until recently there was also some uncertainty about whether or not they were going to be on the hook for IRC’s debt obligations based on a dispute with a Chinese bank. They also carry a discount due to all their operations being in Russia. All of these problems however have been mitigated, their debt is under control and well within acceptable limits, the issue with the Chinese has been sorted and while being in Russia is a risk according to the market, the reward is giving them a $100/ounce or extra $50m a year compared to their peers producing at $900/oz compared their $800/oz, largely based on the low ruble. I believe that POG is an undervalued gem that the market will soon recognise. Perhaps the market is waiting for them to re-establish a dividend in order to show that their restructuring has been successful and that POG is in good financial health. http://www.*************.com/views/20372/my-top-three-gold-shares-to-buy
Pan African Resources (PAF) is ahead by 61% since my strong endorsement in mid January, so the juicy (and unusual for a miner) prospective 9% dividend yield available then to anyone who acted promptly is no more. Partly, the share performance is down to better than expected results for the half-year to December, showing a near-80% improvement over the previous six months despite an exceptionally low $1,110 gold price in the period. The improvement came about mainly due to higher productivity at a cost that was substantially lower, courtesy a severe fall in the Rand versus the Dollar. From now on, Edison’s valuation, assuming gold remains flat, based on its calculation of the NPV of its forecast of future dividends (i.e. lower than would be a valuation of the total cash inflow to the company rather than to shareholders) is 19.6p. Given that is at a conservative 10% discount rate, and assumes no increase in the gold price, and that Edison thinks a comparison with other S. African and world goldies such as streamers still shows PAF to be markedly cheaper, that underpins my thinking that investors wanting a dividend (still yielding a not to be sneezed at 6%) should hold on. Others, though, might want to redeploy their quick profit into the likes of the higher reward (against a not too high additional risk) prospects like Kefi Minerals. http://masterinvestor.co.uk/equities/spring-round-up/
Thanks, so in that case we have the potential to double in SP which is what I think you have indicated before. In answer to you question, I was very close to buying bullion but never did, with the view the good gold/silver stocks generally out perform the pog by at least 4 to 1. Instead the wife and I switched our ISA's (total 26k) into Blackrock general gold fund, Investec Gold fund, Smith & Williamson Gold & Resource fund, all of which are currently up 25%, clawing back lossses on AUE
Touched 1269 before closing @ 1265. The gold reaction to the Shanghai market development has been muted. But a powerful reversal is in progress, which should be impossible to halt or to obstruct. An unsual pattern shows itself in an upward bias Cup & Handle toward a reversal, where the $1300 level is well defended. Worth a read on the chart / tech side. http://www.marketoracle.co.uk/Article54951.html On the supply / demand side of things, this is a good read. http://www.profitconfidential.com/gold/gold-bullion-triple-threat-could-send-gold-prices-skyrocketing/
Ha going round in circles! try this one........... http://www.marketwatch.com/story/china-is-one-step-closer-to-global-gold-price-domination-2016-04-19 Just as gold looked like it was going to break upwards it is hammered back down. IMO only a matter time before it does though.
Afternoon. POG just hit 1268. Has been range bound recently, a move and hold above 1260 would be very postive. According to this trader Gold is about breakout............ http://www.cnbc.com/2016/04/20/trader-gold-is-about-to-break-out-heres-why.html On Tuesday this week the Shanghai gold fix opened, a step closer for China to dominate gold prices? www.lse.co.uk/ShareChat.asp?ShareTicker=PAF&thread=4576CAA6-776B-418A-8B34-70DC6CECA0F3
now most bullish since 2011 when Gold hit $1900.............. http://www.mining.com/last-time-hedge-funds-were-this-bullish-gold-price-hit-a-record-high/