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This is great news !!! I so should have bought more than I did. Surely a big spike up expected, especially as shares are usually so scarce.

With no debt and $170m in cash, I expected more than $29m to be distributed as dividend TBH.
But hey, as always there is a pot of jam for tomorrow.

Well that didn't go too well did it... I get back home and find most of the profit from the high Dividend has been swallowed by the drop since yesterday. I would have sold on the bell if I had been able to be online.
So all that cash spent on adhesives and we get higher turnover but no additional profits.
At least this is not a wash out and the 4p div will help.
New broker target is 350p.
JPMorgan cuts Synthomer price target to 350 (430) pence - 'neutral'

Results not as well as hoped considering the acquisition, 4p dividend a bit 'meh'. Market will not be too impressed IMO, however much of it may already be priced in. We'll see.

What the hell happened here.. My holdings were nicely in profit at low 200s averages and now this.
Was this all GLG Partners LP short selling and DLG themselves no longer sucking up sells ?
Results are not that dire and the dividend remains intact.
Does it justify the 20% drop ?

Finally reinvested the shares I sold at 297 today. Won't be around for 7/8am so will catch up later in the morning.
https://www.synthomer.com/
2nd August 2022 Interim results, these will be webcast at 08:00 BST

All looks great and the acquisition is still a possibility. Sticking to their 10 cents annual dividend announced before the oil price went stellar rather than give us a bonus interim, but glad they're not following the self-serving buyback trend. Rid the debts.

Trading update was juts a few days ago, and it was excellent, yet here we are, in the doldrums again.

https://www.panafricanresources.com/investors/press-releases/
https://www.panafricanresources.com/wp-content/uploads/PAR-SENS_-14072022_Operational-update-for-the-year-ended-30-June-2022.pdf

The big update will be 14th Sept.

"A detailed update on the Group’s operations and production growth projects will be included in the
Company’s annual final results and presentation, scheduled to be released on 14 September 2022"

On the other hand it's not that far away until 23/24 when the wait should be rewarded.

Gold price is dented recently and I don't think any gold investor thought with war/inflation so dominating our news that the price would ever be languishing in the low 1700s (or £1400s) again.

"Does anyone really believe that the US/NATO pushed Russia into the invasion of Ukraine for any other reason than destabilising Russia? '
Only gullible twits taken in by the online bots following the Kremlin's propaganda believe that Russia was somehow pushed into an invasion. Come on. What kind of moron believes it's not Russia's fault when another Russian rocket decimates an apartment building killing innocent civilians.
Then again, people believe anything when it's online or told to them by lying politicians, even the obviously untrue like that the Earth is Flat, Covid-19 wasn't real or that Brexit would somehow be good of the UK.

"Donald will be back as President!?"
That would probably the worse thing to happen for world peace for decades since Trump is basically in Putin's pocket.

They can take all that from the remaining 60%... ;)

Older wiser, Please make the adjustments and post a different estimate, so we can see what you mean.

Well done Roofer.. I've been outdoors doing DIY all day (actually doing the roof of my garden room) and come back in to find nearly everything has been pounded, including gold, and PAF !
Gold always feels so manipulated on days like this, it's as if the Americans are on a mission to keep gold down so that international gold investors never benefit.

Hi Roofer and all.
I think PAF once again is below the radar of value despite the market wide downturn.
The analysts at Berenberg expect :
"Production of 215,000 oz in FY 2022/23 and to 220,000 oz in FY 2023/24.
AISC of $1,100/oz and $1,085/oz, respectively."
Then add in 50k (for Mintails) in 2024 at a gold price of $1750 and average AISC $1100
we could expect profit of :
270,000 x $650 = $175m
40% of cash as dividend means $70m between 1900m Shares = 3.6c = 3p
Even at a modest yield of 10% means a future SP of 30p, AND... say at least 15% return (1p then 2p 2022/2023) on today's price in dividends until then.
A yield of 7.5% means an SP of 40p on 3p dividend.
Not exciting enough for the herd, but certainly good enough to be a decent percentage of my portfolio.
Cheers and GL.

https://www.sharecast.com/news/broker-recommendations-/broker-tips-national-grid-intertek-pan-african-resources--10098997.html

It's a pretty large short position on Fever Tree now, especially BlackRock at 3.91% of the shares.
I've had Fever Tree on watch for ages. "UK now in inflation environment" does mean this downtrend could continue a lot until reasonable PE and Yield has been achieved. That's not great for any current holder or buyer at today levels to think about, but I imagine many of us have shares in good companies stuck in lows.

Greenvale Capital LLP 0.87 -0.84% 28 Jun 2022
CapeView Capital LLP 0.52 -0.10% 24 Jun 2022
Millennium International Management LP 0.50 -0.08% 17 Jun 2022
BlackRock Investment Management (UK) Limited 3.91 1.80% 14 Jun 2022
Total 5.80%

Amazingly, I had very optimistic IGIndex order to buy at 224p as IMO this is strong support level. Didn't think it would actually ever hit but here we are.
This is a brutal sell off but I'm OK for it to be short term at least until my DRIP next week.
The speculation must be that inflation will spanner the Sythomer works.
First numbers from their billion dollar acquisition expected end of this month.

https://thevault.exchange/?get_group_doc=293/1656570824-SENSPanAfricansuccessfullyconcludesMintailsMogaleGoldDFS30June2022.pdf

PDF Version from their own website.

This is showing on part of the PAF news feeds, all good !

https://uk.finance.yahoo.com/news/pan-african-resources-plc-successful-060000388.html

https://www.moneyweb.co.za/mny_sens/pan-african-resources-plc-pan-african-successfully-concludes-mintails-mogale-gold-definitive-feasibility-study-dfs/

"Activity Estimated date
Completion and finalisation of DFS Completed
Engineering optimisation activities June – August 2022
Detailed engineering study September 2022 – March 2023
Likely project commencement date September 2022
Funding package finalised October/November 2022
Environmental approvals March 2023
Construction commences April 2023
Commissioning July 2024 – December 2024"

Pan African is pleased to announce that the Company has successfully completed a DFS on the Mogale Gold Proprietary Limited (“Mogale Gold”) Tailings Storage Facilities (“TSFs”) that forms part of the Mintails Mining SA (Proprietary) Limited (“Mintails SA”) assets, situated near Krugersdorp to the west of Johannesburg, South Africa (the “Project”). The DFS was prepared by DRA Projects SA (Pty) Ltd (“DRA”), with reliance on specialist input from third parties for Mineral Resource and Mineral Reserve estimation, dump re-mining, tailings pumping and disposal and metallurgical test work. The parties have provided their consent for the release of the information contained in this announcement as far as it pertains to the results of the DFS.

HIGHLIGHTS FROM DFS

Significant production impact:

The Project has the potential to increase the Group’s gold production profile over the coming years, with re-mining of the Mogale Gold TSFs expected to add approximately 50koz/yr of production over its 13-year life of mine (LOM)

Equivalent to an increase >25% on Group’s current production

Compelling project economics:

Pre-tax NPV (at 9.5% real discount rate) of ZAR1,006 million (US$64,9 million), real ungeared IRR of 20.1% at US$1,750/oz and US$/ZAR:15.50.

Forecast AISC of ~US$914/oz and operating cost of ~ZAR78/t (~US$5/t at US$/ZAR:15.50) over the initial 13-year LOM

Construction capex:

~R2.5billion (US$161.3 million at US$/ZAR:15.50)

Payback:

Construction capital payback estimated within 3.5 years, post commissioning

Targeting production within 18-24 months from commencement of construction

Mineral reserve:

The Mogale Gold TSFs, which comprise various individual dams, contain a Probable Mineral Reserve of 123.6Mt of re-mineable material at a head grade of 0.29g/t for an estimated content of 1.14Moz gold

Further production upside:

Addition of Mintails SA’s Soweto Cluster resource has potential to extend LOM from 13 years to 21 years and further increase annual gold production

Proven technology:

Low unit cost hydro mining with low project execution risk at 800ktpm (thousand tons per month) carbon in leach (“CIL”) plant, similar to Pan African’s Elikhulu operation (currently processing ~1.2Mt per month)

Project funding:

Well I was correct.
The reason for this buyback must be for some large shareholder who wants to sell down. The liquidity is not enough to allow this to happen normally so the only way is for our cash to be used to buyback the shares. At least they are doing so at a low price.
Shocking how companies try and persuade buybacks are for the benefit of shareholders, they can be, but not in the way they sell it.

What is going on here ?
Just saw 18.84p on the bid !
Gold still above £1500 or 29500 ZAR, GBP/ZAR is steady at 19.6, Inflation in SA is less than 6%, they have their own Solar plant to keep costs down, nothing of note in recent googling and Pan African must be making money hand over fist at the moment.. Yet below 19p.

Last interim Dividend was 4c, and that was declared August 5th 2021.
That's only 6/7 weeks away if they do the same in the first week of August. 2020 was 6c (4th August)
A 5c dividend would have an impact of around 5%.

"There is quite a song and dance ABOUT DIVIDEND PAYMENTS, so be surprised is this is not a continued feature."