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"The whole market is behaving like Evraz these days, bounce and weaving like a drunk kangaroo. "

I know right... The only sure movement for EVR is ex-div day, apart from that, we're on the Covid-19 roller coaster.

Voltility https://yhoo.it/2TG8zBS

Peel Hunt today reaffirms its buy investment rating on Pan African Resources PLC (LON:PAF) and raised its price target to 20p (from 16p).

https://www.sharesmagazine.co.uk/shares/share/PAF

I cannot see anything specific to PAF to cause this other than the gold price jumping back toto mid-Feb levels (where PAF was 12..2 to 12.5p) , but mainly investors nabbing some profit to make up for virus losses.
No Covid-19 cases in South Africa or any new news on land grabbing etc. IMO Hold/Buy.

Carnage or Bounce today....

FTSE is showing opening around 240 points lower.

The recent resistance may indeed break today. Down 7.65% as I write.
Skier... A drop of $12,836m to $11,905m in revenue cannot be described as 'freefall', and US$1,456 million in cash is pretty good.
On a day that the FTSE is down over 2.4%, this kind of drop is normal for EVR, as and when the virus fear eases, watch this shoot up by 15% in two days.
IMO The profit drop has been priced in for ages now. The only surprise in the results for me is the high level of cash flow and the continued divi representing a yield of over 15%.

I wasn't expecting such bullish dividend due to profits, but earnings and cashflow are great, and debt is reducing.

DIVIDENDS
Interim dividend

In consideration of EVRAZ healthy performance in 2019, EVRAZ Board of Directors has announced an interim dividend. On 26 February 2020, the Board of Directors voted to disburse a total of US$580.8 million, or US$0.40 per share. The record date is
6 March 2020 and payment date is 27 March 2020.

The interim dividend will be paid in US Dollars, unless a shareholder elects to receive dividends in UK pounds sterling or Euros. The last date for submitting a Currency Election will be 9 March 2020. All conversions will take place on or around 10 March 2020.

Buy.
I can get a direct quote to sell £30k's worth at 12.88.

How likely is it that South Africa would actually go along with this land expropriation without compensation bill. Surely the government knows this would be economic suicide.

https://www.biznews.com/thought-leaders/2020/02/06/land-grabs-sa-look-like-venezuela

"Land grabs could make SA look like Venezuela sooner than you think... Zimbabwe is an economic basket case, thanks to land expropriation without compensation. Every South African who keeps an eye on current affairs knows that – yet many politicians continue to beat the drum of land grabs."

Has it ever worked out anywhere ? Can this article be stand corrected ?

A steady flight from the JSE. What's worrying is that anything is possible politically these days, we have all seen how the power of stupid can be so persuasive to media consumers and unhappy voters.

Gold price with a tiny nudge will now reach a record price in GBP and is already in ZAR.

Hi Ragnarlothbrok. I agree..

It's not all great, with the higher mining costs for some of the operations, but it's mostly looking all good when balanced by the upcoming profitability of ELIKHULU.
The gold loan still confuses me in the manner it exists in the accounts and cash flow, but on the face of it, it was a good idea at the time, remains a solution, and represents a drop in potential earnings we could of had instead of an actual real loss.
I'm struggling as to why this hasn't turned into a more robust share price here.
Volume remains light.
Will PAF be borrowing more for the solar power plant, if so how much and will they be reporting this BFS ?

Well done Cobus, director buys always welcome.

Just looked at the PAF at the end of last August, when the SP rose up for a few weeks, and compare the wider situations of the end of August to now.

28/8/19 28th August 2019

PAF JSE = 2.70 ZAR
PAF London = 14.30p

Exchange rate GBP to US$ = 1.2284
Exchange rate ZAR to GBP = 18.833
Gold Price
1538 US$
1259 GBP
23641 ZAR

6 Months Later 20th Feb 2020

PAF JSE = 2.48
PAF London = 12.75

Exchange rate GBP to US$ = 1.286
Exchange rate ZAR to GBP = 19.43
Gold Price
1617 US$
1258 GBP
24425 ZAR

Looking at all of this, there was a 5% difference in dollar rate, but even that only takes the SP to 13.4p.

Even with the updates recently, IMO there is still a lot more growth to come, especially with the estimate on page 29 of the presentation linked below by ragnarlothbrok.

Estimates for share price in 2021 if the debt has been repaid ?

Slowly slowly.. Is the PAF way indeed. Practically no added value to the share price to 6 months ago even with these recent RNS's that could be considered over and above the steady gentle climb up to value, despite the high gold price at record levels in ZAR.

Is this down to market being cautious of South Africa ?

Audited accounts are presumably to follow, in a week or so, then will we simply expect a slow rise to 15p or 16p ?

Costs per ounce are good, profit margin is excellent, debt levels must surely start to go lower and lower and a steady pace.

Increase in production ounces this year..

With the virus now starting to shut down factories until it's over (eg. Nissan), skier may have his moment depending on who the buyers are for Evraz steel.

This deadly virus is not slowing down as yet. Any indication that it is, I would imagine quite a strong positive market reaction.
https://www.worldometers.info/coronavirus/

Nissan to shut Japan factory due to shortage of Chinese parts
https://www.bbc.co.uk/news/business-51441344

" Iron and Steel Industry is the feeder industry. The finished products of this industry are used as the raw materials for the other industries.. The steel and iron industry are called the feeder industry. because the iron and steel from these industries are the raw materials for other industries"

That is really the only question currently as a shareholder.
Is it 50/50 that this can grind back into action ?
Will My Phelps finally start to realize that positive market updates garners the share price ?
It's rather pathetic that the best footage of the mines recently has been posted by a campaigner group who's mission is to rid NI of mines ?
An assurance to the market that's he currently not taking a salary to counter the recent protest campaigning ?
A similar local charity and good causes ?
Such is the losses of delay to both company, workforce, shareholders, and the fact that £400 represents 333 ounces of gold, It's even coming to a point where it would be worth GAL paying the DAL bill for them !!
Come on Roland. Do something other than inactions and feeble updates which have bring bought the SP to poultry levels !
Companies generally boost the SP with plans, updates and positivity then issue shares, not drive it into the ground first.

Grrrrrr.... Galantas.

To BoomerBower
Even a basic chart shows CO2 levels leading temperature rise.
https://www.climate.gov/news-features/climate-qa/if-carbon-dioxide-hits-new-high-every-year-why-isn%E2%80%99t-every-year-hotter-last
This would normally not be a problem as CO2 has gone up and down in small levels for 1000s of years as has temperature, along with ice ages coming and going, but the problem is that the level of CO2 is now higher than it's been for nearly a million years, which correlates to a major climate change and is why the current temp rise is so alarming as sooner or later, the major change will happen. For the sake of mankind, our delicate biosphere make up should not be tampered with, but it is being changed with our industrial discharge and it's amazing how deniers are so dismissive of it, calling on ever inventive scientific ways that condone our pollution and the destruction of our natural environment.

Interesting article about Sun Spots, but basically IMO there is only one graph that you need to look at regarding climate change. Study of ice cores, the one that persuaded Attenborough and convinced most to study and add to the conclusions.
https://climate.nasa.gov/evidence/
Pretty much any article that refers to events in decades, hundreds or thousands years ago, could now be ignored as just noise.

Yesterday's profit taking should surely be replaced by the slow and steady rise that PAF holders experience, as the anticipation of debt repayment and return to healthy dividends manifests over the coming year or two.

PAF has never been attractive to the herd of quick profit investors, but will surely attract more with the progress, steady news and keeping the mines secure.

Interim Results in the coming weeks.

Welcome back skier. How is the doomsday screnio ? Are you wearing your mask, staying indoors and scared to go outside, avoiding this new virus ?

Once the first people start to recover from this corona virus and it's no longer seen as "guaranteed death" then the panic will start to ease. Well we all hope so. This should shoot up once so as China re-opens its doors.

Brutal. A slow 3 month drift then climb to 430, then splat, down 17% after one week of this virus.

There's this
https://www.cnbc.com/2020/01/21/us-treasurys-mnuchin-says-phase-two-trade-deal-with-china-may-not-remove-all-tariffs-wsj.html
"The phase 2 trade deal with China would not necessarily be a “big bang” that removes all existing tariffs, U.S. Treasury Secretary Steven Mnuchin told The Wall Street Journal in an interview."

There's the new virus in China..
People taking profits.
It's cold in London.
Trump's speach in Davos.

EVR is being true to form, totally volatile.

Given basic charting, this should roughly be the bottom, and of course being EVR, this could just as well be up by 10% to 430's or down to 350's by the weeks end.

What we do know is there is an Trading Update looming, and given the EVR ship is steady, the company is good and so the SP should reflect it.

Welcome Marcus, Hi to all and Happy 2020.

Are we about the break up to a new trading range ? Second time in recent days there has been a 4-5% upswing to the 410s.

Maybe according to Skier this double castle point would surely signify a trend towards 600p...

Trading update a 2 to 3 weeks away. What are we expecting ?

IMO I'd like to see a steady update with showing good sales in tonnage, debt repayment and the expected capex spend, and any profits down, already priced into the SP and due mainly to the metal/ore/coal prices.