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Well that's a very disappointing end to 2017, as you say it must be related to something not yet known, more unrest at the Elikhulu project maybe? It does seem to be severely undervalued, for a well run gold miner, most of which must be down to operating in SA (in my view anyhow).

Great to see this rising on the back of a surge in PVR, hopefully they have had success and the read through will lift EOG. +20% at the mo

With the price of gold as it is, I assume the drift in share price is solely due to the general political situation in South Africa? The company is well run, doing all the right things growing at a sustainable rate, with an excellent record of divi paying. The current share price is disappointing.

Conversion of LCM / t for alluvial gravels is around 1.6t / LCM dependant on percentage of fines in the material. But as Relephant's post there are too many unknowns at this stage to assess if the JORC for the new area will result in a profitable source going forward. Apart from the small amount of cash available, everything else seems to be poised for take off. The next quarter is definitely a make or break period.

The other confidence builder is management recently being paid in shares valued at 1.75p

Your right they must have been fairly confident of hitting their profitability target when the results came out in June. I will just have to go with the flow and wait quietly for what will hopefully be an update that marks the beginning of the journey to a healthy profitable business, with the associated uplift in share price!

Does anyone know when the next update is coming? I had assumed it was going to be around the 18th July. Here's hoping we are still heading in the right direction to profitability

Wow that's definitely a show of support taking salary in shares priced at 1.75p, Gives a bit more confidence of making a profit going forward

A company update / results must be imminent, I do hope we get some news on sales for the larger stones, hopefully this is the bottom and the share price can push on upwards.

Well this is disappointing, I thought the results were pretty good, as we continue to build value , Im note sure what has caused the getting on for 10% fall

Its looking like we will be waiting until the AGM in couple of weeks, before we get news on the tailings project

@Eish, yes it will be based on those dumps, the scheme was to mine 12 millon tonnes p.a. and depending on recovery rates etc could bring in another 90k oz p.a. not sure where I got the 50k p.a. earlier. The DFS release later this year will make interesting reading

The prospect of the Elikhulu tailings retreatment project getting the go ahead could be a very good move, to add a further 50k oz of low cost gold production, with the successful completion of the previous retreatment plants they have a proven ability to bring these types of project in on time and budget.

The agreement to acquire an interest in Shanduka Gold is meant to be ratified by the 15th April, but I think it may just be the rise / stability of gold around $1,250 /oz thats helping the share price

Nice to see the SP moving upwards, all the jigsaw pieces seem to be falling into place for a really profitable year, especially when its compared to last years low grade part of the cycle at Evander.

I was just thinking the exact same thing, with the POG stable / rising slightly and everything else being equal we should be rising not falling.

This seems crazy with such a low take up, the fact that they are able to keep just extending ther pitiful offer is a nonsense, and disruptive to the company. I assume there must be a limit to how many times the same offer can be extended?

Theres an updated presentation posted on their website this morning which is fairly detailed. Ive always viewed PAF as a well run company, and if they can maintain a dividend (all be it a reduced one) through this phase of the cycle its a very good sign for the future

New presentation on website http://www.panafricanresources.com/wordpress/wp-content/uploads/results-presentation-september-2014-140915.pdf

I think the best thing they can do is to utilise the capital, hopefully they will be able to explain how they are going to allocate it. A share buy back would certainly help support the share price (if done on a suitable scale) Hopefully your mission will be a fruitful one!