Member Info for Mulder

Good theories guys and as ever all will be revealed in time. The absence of even a 'dead cat' bounce here is highly puzzling however and whilst I believe the high yielding dividend will be maintained come April I do wonder whether management have been truthful about the extent of the 'highly competitive' market and the number of customers switching. The city boys/insiders clearly believe the situation is worse than they let on hence the 3 month lockdown in SP. The alternative is the M&A scenario. I note the absence of any director buys for a while now.

Evander has been spoiling results and reducing overall group profits for a while now. Suspend operations until gold price rises or sell it if good offer arrives. The gold reserves will not be going anywhere!

'We' have had some discussions with the hierarchy including the CEO and are encouraged management is on top of things and fully aware of the share price decline. 110,000oz at very low cash cost from August remember.

Who is/are 'we'?

Just a couple of rich punters then? No RNS Bizarre.

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I see the white farming matter as separate to the mining sector. He has to get the economy moving. The bosses of the big mining companies operating in SA have been bullish about Ramaphosa and the future.

3 months and counting rx. AA had another shocker today down more than 10% but that's because they have a rotten balance sheet and are rumoured to be readying a rights issue. Also AA have 12% shorts; Saga <0.5% if the FCA are to be believed. A P/E of just 8, yield approaching 8% and dividend cover of 1.6x is not enough apparently in this market...

Panaf may save jobs despite NUM 1,722 Evander job loss claim �We will see where we end up. There�s a number of things we can do to avoid retrenchments. We�ve got the Egoli project coming up,� said Loots. Panaf said at its interim results presentation that it was assessing the viability of a R572m extension at Evander using Shaft 7 infrastructure accessing some one million ounces of gold reserves. In the meantime, it has been cutting back on costs. It has cut 628 employees at a cost of R39.8m while payroll costs had also been reduced by R9.5m. Contractor numbers had also been reduced by 147 people. For the six months to end December, Pan African reported a mining profit of R103m (previous comparable period R316m) and a taxed profit of R58m (R250m). �At R495,000 per kilogram [rand gold price], not a lot of gold mining companies are going to be making money,� said Loots. Pan African�s overall all-in sustaining cost (AISC) for the six months to end-December was R545,908/kg. The cost breakdown provided by the firm during its interim results showed that the group�s lower cost operations � consisting of the dump retreatment operations plus the Barberton underground mine � had a total AISC of R373,184/kg. But the higher cost operations � the Consort mine plus the Evander underground operations � had a total AISC of R683,873/kg. Breaking that down further revealed Consort�s AISC was R761,562/kg with Evander underground at R673,444/kg. http://www.miningmx.com/top-story/31906-panaf-may-save-jobs-despite-num-1722-evander-job-loss-claim/

It only took The Times 3 months to wake up. 3 million customers? Must be a takeover target at this price.

Target 175p

Evander contributed just �0.6M in profit in H1 and that was probably mainly due to the tailings plant which will continue.

Reuters reporting this just now but clearly insiders knew weeks ago hence all the selling. Cash costs for Evander were approx $1700/oz so no point producing gold at a loss.

So Evander effectively to be closed. 1700 job cuts. Evander was the highest cost mine and was loss making in this environment. Strange Cobus bought shares before this announcement.

Royal Mail has surged 55% in the past 3 months to 570p. Doesn't look like the shareholders or funds there are worried by Corbyn or his threats! 90M volume in the past 2 days here + 8% rise suggests funds and institutions have been piling in.

With no debt and over �100M in cash little chance of going bust I would think and hope! Shorts probably taking advantage of looming demotion to FTSE SmallCap status hence the stunning near halving of share price in the past month. Trading at levels not seen since 2012. Crazy. Take out exceptionals and Vectura is making a profit of around �30M-�40M p.a.

Yes he has over a 10% stake now. From Wiki Allan WB Gray is a South African business magnate, investor and philanthropist. He is best known as one of the richest men in Africa and founder of Allan Gray Investment Management as well as the non-profit Allan Gray Orbis Foundation and the Allan and Gill Gray Charitable Trust. Before he donated his stake in Allan Gray Investment Management his net worth was estimated to have been US$10.5 billion (105 billion South African Rand) in 2013 Had not realised Cobus Loots has been with the company since 2009 steadily moving up the ranks until reaching CEO in 2015. He should know the business better than anyone and how to operate in such a harsh environment. I would advise him to seriously arrange a sale of the company - only at a good price of course. Failing that any mines that are low margin/loss making need to be suspended even if it means another reduction in production guidance - this cessation may have already happened given the 40% drop in share price.

Pension deficit down �250M Bank loans and borrowings down over �500M Looks like Conn has finally pulled his finger out!

Unclear but the latest balance sheet certainly looks a lot better with liabilities down �2Bn year on year; net assets �3.4Bn up from �2.6Bn and Cash �2.86Bn up from �2Bn.

Paid �2.3Bn for a 20% stake in eight nuclear power plants in 2009. Conn looking to sell this for the right price. Could mean a special dividend or share buybacks.