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Great rise. Nearly at the previous support of 350.
Chinese steel prices back to January levels.
The Russian Vaccine news must be helping this as well.
A shame Putin has bought on so much distrust on so much of his country's politics and announcements from the west.
Positivity could be much more widespread in that respect.

Hi Nostra. Just consider that PAF is currently paying off it's debt at around $2m to $2.5m a week !!

IMO we're being unduly hammered due to profit taking from the gold rise. GL if you're trading.

In 2021 without debt, and new projects like The Egoli Project we could be looking at a Dividends of 4p 5p and rising into the PAF sunset. The political and health environment being the risks, but this also means that PAF is still currently one of the cheapest Gold plays. Just compare to Canada's Pure Gold, for example. Both have a similar market Cap, PAF resources well over 30 million ounces, Pure a tenth of that, and looking at 60k production whereas PAF is looking towards 250k ounces. Pete Schiff comments on the gold rise.

https://schiffgold.com/peters-podcast/peter-schiff-the-most-unloved-gold-bull-market-ive-ever-seen/

The Federal Reserve is printing trillions of dollars. Fed Chair Jerome Powell has said it isn’t even thinking about thinking about raising interest rates. And there are reports that the central bank is set to make a commitment to ramping up inflation. All of this is extremely bullish for gold.

In a CNBC interview, US Global Investors CEO Frank Holmes said he can see $4,000 gold in the relatively near future with G-20 finance ministers and central banks “working together like a cartel and they’re all printing trillions of dollars.”

IMO if $4000 becomes the spike, then I'll happily take the settled prices of half way to that $3000.

Far too many references out there to share links, both analytic and scientific for oil demand sinking in the coming decades.
But sure, you can dispute it, even King Canute was right for 30 minutes each time the waves retracted as the tide came in.

"' 17.5 bn of assets deemed economically unviable - which numpty is going to buy em."

BP are basically stating that these assets will be gone on the the next spike up in oil price, they will take the long term view that Oil is set to go lower in price. That said the stars are aligning for a rise in oil price (so say the analysts) for will last some years before it sinks again during another energy crisis. So, just as when the gold price goes up, companies see old expensive mines to be viable again, so will be the case with oil fields that need a price above $55. BP will sell these to plenty of buyers, who'll be in glee to please their stakeholders with the promise of more profit.

Long term oil demand will sink, this surely is not in dispute. BP have decided to act.

Many years ago it was unthinkable that the national grid could take any significant power from clean sources such as wind, yet it was recently 100% powered recently by such sources.

It doesn't mean less revenue. It just means they are getting rid of the mothballed assets next time oil gets above $55.
One could argue this makes perfect sense. Why would you want to hold onto assets that are not economically viable, if the long term oil price is lower, and they have analysts that have predicted that there is plenty oil around the world that can be manufactured at much lower prices. In many ways, they can be seen as getting ahead of the game.

The strategy was discussed at a BP executives meeting in July, the sources said, soon after the oil major lowered its long-term oil price forecast to $55 a barrel, meaning that $17.5 billion worth of its assets are no longer economically viable.

"That they were going to distance itself from the black goey stuff and move to hopefully a zero carbon footprint.
This just didn’t sit right on my mind..."

IMO, nothing to worry about. Oil will flow and profits will come for many years.

It's all about public perception. They are playing the sentiment game. Remember when they said they were green as fields and investing a few million on solar panel roofs for their petrol pumps to make us all feel how good a company they were.

Same now just different rhetoric. They know that the world will rely on the black stuff for a lot longer than the starbucks re-useable cup user thinks. The rhetoric, solar panels and the cup, make Mr petrol pump user feel good about BP and forget about the millions of barrels that the world needs to still use to get that cup and fuel to Mr Petrol Pump with his brand new manufactured duel power fuel efficient car in the first place.

Our wonderful Government does it constantly, with great big grabbing headlines that mention they care loads about the kids at school by pledging £10m on new books, or investing £5m in science to make Britain Great Again. The Daily Mail and Sun readers maybe happy and beat Boris's chest, but we all know sums like that do the square root of nothing to sort out anything, meanwhile they'll spend £300m on non-existent PPE to the company owned by a trust they might have shares in that quietly disappears.

Big industry, big oil and the great business of corruption will carry on regardless, just keep Happy Public smiling about the flowers and looking elsewhere, thinking they are all doing great for the world.

Well there you have it. Doubling this Divi represents a current yield of over 9%
In the world of Evraz that might mean up or down by 15%... Depends on the weather, astrology and how upbeat the Market feels.

Typical bullishness putting divi over debt.

• Total debt increased by US$229 million to US$5,097 million, net debt increased by US$288 million to US$3,733 million.
• Net profit was US$513 million, compared with US$344 million in H1 2019.
• An interim dividend for 2020 of US$291.37 million (US$0.20 per share) has been declared, reflecting the Board's confidence in the Group's financial position and outlook.

Here is a take. If Cobus thought there were major problems with nationalising coming then he would not be frantically paying off debt. IMO he would be more 'short-term-ist'. and still pay the debt, but at a less rate and boost the SP through bigger dividends. Loose expectancy pledges of a 4p / 5p divi for example would bring the herd alright.

It's an uncrossing trade, or UT trade. Not significant.

Profit taking happening and the £/$ rate has taken off 4% in just over a week (around 1p). That said Gold is still over £1500 an ounce and looks set to touch $2000.
No surprise to some selling when the SP here has risen so steady and fast compared to the carnage elsewhere.
Great news. Pan African's next phaze should take production revenues over 250,000 ounces.
At the rate PAF are going the CAPEX of Egoli will be paid off quicker than sooner.
If the cost per ounce can be kept at $1000, then an annual profit figure of $225m should cement this new step forward to the 20s 30s range or higher.
Risk is Covid-19 and government.

Hi Tacet.
TRADING UPDATE Q2 2020 is due tomorrow.
Much bad news already priced in but I suspect it update may not be as bad as feared with so much doom and gloom in the market.

Classic notes on a scrap bit of paper...

P/E of 6 on Earnings which is currently £100m a year.
Market Cap of £600m and 2235m shares would mean a share price of 27p
Payment of £50m as dividend would equate to 2.23p

P/E of 10 on Earnings of £150m given hedges up and riding on the high gold prices..
Market Cap of £1500m would mean a share price of 67p
Dividend of £75m would equate to 3.35p

I know this is all simplistic, but looking to spark some discussion.

Gold is now above £1500 per ounce.
Even if GAL is still running low gears, the sight of moving up into second will signal the next step upwards in share price, lowering the risk. The trades indicate there is something happening in that direction.
Thanks MMGames. Fresnillo looking good also, the herd could certainly pile in again. as they did the last recession gold/silver spike.
I note that despite silver being undervalued regards keeping up with gold over 10-20 years, the price has kept in touch with gold for the last 5 years.

There's other posts on here but fortunately the filter is doing its job,
"This message has been filtered, please adjust your filters to view"

Hi Eish.
That's quite a rain on the PAF parade. Thanks for your insight.
I am also cautious that PAF may be effected by Covid-19 again. How are the government and people dealing with it and/or Is the more youthful population dismissing it and carrying on, unlike older population countries like UK/Italy etc ?
Surely any inkling that mining would be effected so dramatically would send investors running ? I note that Anglo also needed a billion to spend on the mine which contributed to them pulling out.
The ruling party may be happy with the bank as that comes with a money printing machine... Which would also send alarm signals.

Hi TotalTrader

Using the filter is better though a shame the green message come up, however it's possible to have a normal discussion.
Evraz has been a pig for me in this crisis as my average is just over 400p. I'm re-investing dividend there so at some point in the coming years, I should be in healthy profit given commodity prices.

You are right. The happy ducks and fields brigade are fighting a losing battle. If Galantas doesn't get the gold out, someone else will, especially when we're nearly at $1900 GP and much more to come, the profits and local employment prospects are too good to miss out on, whether a larger vulture takes over or our small company GAL manages to continue.

Getting the mine running back at normal levels is currently step one. We wait.

The commodity prices are going in EVR's favour.
My previous reservations that there would be any dividend at all are now changing.

This smacks of fundraising.

Hi All.
I have a question for holders as to what copper prices will stop Rambler's constant losses ? What SP could RMM get to ?
I'm a long term bottom drawer holder with an average of 19p.
I know in recent years the price has spiked up as much as 10p when the copper price broke upwards into the 3s ($ per Pound) making the investment opportunity, however dilution and costs have changed somewhat so before spending time doing deeper research I assumed investors here would know these two things straight off in terms of copper price and target SP.
Cheers all.

Hi Totaltrader.

I know. It's impossible to have a normal discussion.

Personally I do not even read their agenda posts and recommend anyone else to ignore these two posters. I will report anything that might even remotely be offensive or attempting condescending until a normal board returns.

Essentially the gold price is going up and up, making it easier and easier for GAL to pay debt and move forward.
A tipping point can be seen on the horizon which will make the share price explode upwards making this a great addition to a portfolio but high risk. As ever this year the question remains as to whether Mr Phelps can steer this old ship.

On the point about when the site will be cleared up, then I'm pretty sure this is in plans as pledged and agreed, as it always was, as long as the funds exist to do this. Essentially, no gold means no funds to clear the site, which must only be done after the mining has completed. I have no doubt that one day, the site will look as country as the old mining sites in Cornwall.

https://uk.advfn.com/stock-market/london/pan-african-resources-PAF/share-chat

Part of a post below.

"Pan African banking on debt-free 2020, dividend expansion as gold price flies high PAN African Resources would be net cash this year and intended to increase dividends assuming elevated rand gold prices, the company said in an operational update for the 2020 financial year. Commenting on the numbers, in which gold production came in higher than revised guidance, CEO Cobus Loots said the firm’s strategic focus was on de-gearing the balance sheet. “We are especially please to report that the rate of de-gearing has exceeded previous guidance,” he said in review of the 2020 production year. Net debt was reduced 49% to $62.5m as of June 30 compared to $123.7m on December 31. The firm’s ambition to be debt free did not, however, include debt it intended to raise for its Egoli project, said Loots in an e-mailed response to Miningmx. Based on a feasibility study completed this year, the Egoli project would produce between 60,000 to 80,000 ounces a year of incremental gold production for a minimum of nine years. "