Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Why is revenue down so much when oil price / production has broadly been maintained ?
What am I missing here..
Wouldn't the BEE (Black economic empowerment) issue be a stumbling block for the likes of BHP ?
If a bid did come in I'd sell up in the hope any offer got rejected and I could then buy back cheaper after rejection.
Very welcome. Not bad for ex-div day when a 4p/5p drop might be expected.
Deal news must be soon.
What a sham. For me these accounts read that Stifano is rinsing out all the money into his and his mates pockets and doing absolutely nothing to get any sort of mining operation except the small scale operation breaking up existing ore, which was there from Phelp's time. Remember Phelps left Stifano a complete feasibility study for the underground mine, the cash raised was supposed to get the gold out, but it's become just a trough for the pigs to feed from.
Look at the accounts :
General administrative expenses in 2023 were $4,243,507 and in 2022, $5,401,289
Cost and expenses of operations in 2023 were $182,295 and in 2022, $284,262
Just let that sink in... To anyone who has GAL on their watchlist, my advice, never invest or buy shares here !
For holders like me, IMO there will never be a gold mine here, so where is the spike ?
There has to be some sort of spike with volume for shareholders to sell and get their money back or even make a profit, ie GAL is due a classic AIM share mining company pump and dump. We've all see them.
So far there is nothing to suggest anyone would want to invest here, no rumours, no pump.. Yet.
For me the only speculation is whether to wait for a pump&dump to exit, or sell out now.
How is he going to get a spike going ? Is it possible to do without actually spending some money on some real mining which will need more funding ?
Cheers all and GL
This is all just my own opinion.
I'm speculating that Seplat's cash position currently is extremely healthy., even around $600m.
On completion of the Exxon deal, are there any capital spending or infrastructure requirements that Seplat will need to undertake ? My question is how "oven ready" is the deal, as I'm assuming Exxon have been continually producing for the last two years, however they did announce last year there was no more spending plans in Nigeria.
Great end to the day. They said op update soon. We'll see.
So for you PAF will break out above 24 even if the POG retraced to 2200, which was my question.
Btw. My holding is massive, I trade extra in all my large holdings to improve averages. Normal stuff.
Hi. All. I've just put in a hopeful buy order at 22.1p for a number of shares I traded twice already in recent weeks without leaving me short of cash. If it kicks in once again I'll be really overweight in PAF. IMO the drop was a bit overdone yesterday on gold miners but chart-wise the base of the recent gap around 23 is still holding up.
Will gold retrace more, say down to $2200 ? Even if it does, what say Pan African put out an update that increases their 180k-190k ounces guidance to 190k-200k. They surely could as now there's only two months left of their year so PAF will have a much better idea within the thousands of ounces.
Would PAF break out above 24 even if gold meandered around 2200 for example ?
"What is special about the number 3,750? Does it have some sort of mystical significance"
haha.. 945000 can be bought back in a year which is just about 2% of the total shares.
And/Or. American investors especially love a buyback, so it ticks a box.
And/Or. Since buybacks support sellers, there are no big share holders currently selling so there's no need for a large buyback.
And/Or. They can award a few shares, buy them back and cancel them all at once as some kind of payment.
IMO Buybacks reward sellers, dividends reward holders.
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.
Well my £1800 invested here is currently worth 70 quid. So why not look for gold or oil as well, also nickel, coal, uranium and diamonds. There must be something in those rocks !
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.
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.
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.
Certainly is in the bargain basement. Dividend of 2p expected to be announced in a couple of weeks as well.
Yield is almost 10% on investing today. IMO the SP is lowering with the tide of the market.
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)
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
Either news is brewing or the value is up on the rising tide of gold and gold miners.
Either way, there could finally be an exit from this dross ahead.
Hold..I just got an instant quote to sell £100,000 worth ! An extreme amount for me.
These shares are in demand.
Done, 24p broken, resistance is weak all the way to 28p !!
Surely this will mean the gold miners can properly catch up and gain some momentum.
The gold price must be headline news now.