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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.

Https://www.panafricanresources.com/wp-content/uploads/Pan-African-Resources_Investor-Presentation_Gold-Forum-Europe_April-2024_VFinal.pdf

Wow, let's hope PAF are banking some sales this evening.

When will Miners follow the gold price and break upwards properly.

Interesting technical analysis on this video from 5.35 about gold miners, showing the difference between the gold price and the gold miners, when could it follow. https://www.youtube.com/watch?v=UYpMb3JF0Qo

News flow could be starting to help on this.

https://www.linkedin.com/pulse/gold-miners-poised-golden-run-barclay-pearce-capital-evuac

Finally bought in with ordinary trades at an expensive 105.7 after a bunch of cheeky limit orders failed last few days. That should teach me. Top sliced my SWIF a while ago and wanted to make sure I held before the next Dividend (final) announcement here.

Cheers all and GL.

Awesome stuff... Got the over 23p target for the tranche I need to sell to pay the builders, and right on time.

Next time I need some cash will be June... 28p by then ? A proper break upwards and then just blue sky.

Mulder if PAF gets to 100p, I cam literally retire !!

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....

DIVERSIFIED ANNOUNCES UPCOMING INVESTOR ENGAGEMENT

https://www.londonstockexchange.com/news-article/DEC/diversified-announces-upcoming-investor-engagement/16411283

TRANSACTION IN OWN SHARES

https://www.londonstockexchange.com/news-article/DEC/transaction-in-own-shares/16411069

News flow is very thin here agreed, but why not wait until end of May, last years trading update was 24th May, so there should be one due around that time.

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."

Let's hope that's it then. 22.3 became a problem again, but at least the new barrier is 23p, which is higher.

GP $2285...

24p surely sooner than later

Some large trades around 22.15 /22.5p yesterday. Mulder will be instigating more complaints if the market makers keep wandering the price down to do scoop all these lower price trades.