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I'm assuming this is because we are now at NAV. So how about an increase in dividends then ?

Hi all. The buyback seems to have stopped, but no announcement.

They have bought 24,019,083 (which are held in treasury) which does not equate to the original $20m buyback intention.

Hi LOTM

I was thinking along these lines yesterday..

Should I sell up 15% of my holding so that the remaining 85% can then double in value ?

The cash required to blow short sellers out the window before the next dividend announcement.

Then the real question is will all the large institutional holders do the same ?

Will they really ? Why should the company spend all that money on shares from holders, when they should be buying the short sold shares on the open market instead ? What difference will my comparatively tiny amount of shares being sold really do.

I came to the conclusion that for me it is best to wait until the next divi announcement, which is not far away instead.

Another company I'm in, SMIF does this kind of offer to buy your shares regularly and hardly anyone takes it on.

If however you happen to be a large holder and a seller, then this will help, and the 5% premium can be seen as not missing out on 2/3rds of the upcoming dividend if you want to sell up now, as an extra bonus.

I can't imagine there will be many, if any at all retail investors who will opt for this.

The only way of profiting is if the ex-div drop will be more than 10%, which to be fair, it has been during the last year.

Their salaries are not at the expense of the share price, especially since the company are doing a daily buyback, but I understand the sentiment if one bought shares and the capital has now been depreciated with the recent sell off. I am in the same boat and It has happened across the sector. Bluefield (BSIF) have announced a share buyback program today as they also have a large discount to NAV. I would not be surprised if Next Energy follows, as their share price is also been sold down.

Great news and a show of strength whilst maintaining dividends, but I'm not holding my breath that it will help the share price. Just look across to UKW whose SP is also dragged down with the sector, and that with a daily buyback program. There will be a resulting tiny increment to dividends, but a buyback drag on the SP will more help long term holders with respect to DRIP and continued investment.

Only managed to catch the last question of the presentation. Any sentiment for an interim divi with all that cash ?

Drop in gold price overnight was a bit unfortunate for today.

The small alarm bell in today's RNS is definitely this

"The Group is well positioned to deliver into its 2024 financial year production guidance of between 180,000oz to 190,000oz of gold. Increased guidance may be considered in due course."

What exactly are they on about ? After delivering 98k ounces, to keep guidance of 180k would mean a drop in production in the current 6 months of around 20%. Surely that is either overly pessimistic or am I missing something to do with mining development that might cause this drop.

Worth remembering that each buyback up until ex-div also saves the company 7.5% of the value on paying out the dividend, as the shares are cancelled.

DEC should buy as many as it can next two weeks.

Mulder, Brexit started from 2020 and has shafted the economy permanently. So until its been rectified then it will remain an issue. Tories have increased immigration to massive levels to try and compensate but basically with so much constant outflow still going on then its hard to ignore.

Thanks coolbeans. Saw this mentioed on advfn but couldn't find it last night when i looked.

Was this the sudden jolt up yesterday?

How low can it go ?!

Currently $1.84 which is way below all those winter expectations touted recently.

Natural gas market always seems to get attacked over night.

Dividend announced, amount and date exactly as expected and here we are at 80p !!

All that upward promise got dashed.

Definitely time to sit tight, reinvest the divs or average down if possible.

Mulder, that is exactly part of the Brexit issue that's been widely written about. It's got worse in recent years. I'm just being the messenger.

Anyway, PAF SP is very deflated despite the GP constantly above 2000 and I bet there are many like myself hoping the 14th Feb can provide a turn of sentiment... An extra dividend would do it for me ))

Thanks coolbeans,. The DEC website SEC filings, the only place i didn't look.

Surely this is regulatory news for the UK market as well. The shares are traded on both exchanges.

Where is the evidence that Blackrock increased their holdings?

Hi Mulder,

Yes, but I thought the complaint you had was about daily outflows from the LSE which look institutional, which this explains.

Overall, I am not worried at all. I have never been bothered by differences between the exchanges with PAF, as just as you say, it all pretty much evens out. That 5% difference could just as easily disappear within a few hours of it appearing, or hang around for a while, then not.

Hi Mulder

I think you'll find this is all too common with many shares and companies listed in the UK, since Brexit there has been constant outflows from the LSE.

Even the right-wing papers like the "ToryGraph" are on to it.

It would explain the constant sells and price suppression that's across the LSE.

https://www.telegraph.co.uk/business/2024/01/13/brexit-prime-suspect-death-london-stock-market/

https://www.bloomberg.com/news/articles/2023-12-18/-screamingly-cheap-british-stocks-are-again-a-hard-sell-in-2024?leadSource=uverify%20wall

Another one of my African investments Seplat, has a constant 20% to 40% discount to it's African listing.

What an absolute sh...|....t show this has become. No mining, just Stifano and his mates sniffing and snouting as much as they can out of the value of the company to its death.

It was only a few years ago that 12000 oz of gold a year was being produced, and the underground mine would have allowed the open pit mine to be covered over, processing off site and so the locals would have had the best of both worlds, employment and the end result of countryside being restored.

Now neither. Juts a death by dilution cash cow for Sprott and Stifano.

Not even a spike to get out.

Is Rusty threatening the short-sellers ?

If DEC decide on skipping the dividend just for one quarter, then they'll have a whopping $40m to buy way more shares than shorters could possibly sell. If Dec halve the dividend, same. Surely shorters would close positions knowing there's 10s of millions of dollars sitting on the bid price, as the price could not go down, so no profits for shorters.

Thinking about this interview more.

Up another 10% today !!!