Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
PAF set for lower costs by FY25
We have forecasted the Mintails all-in sustaining cost at US$993/oz, which is above the US$914/oz estimated by PAF. As Mintails comes online, we forecast the PAF average AISC to drop from US $1287/oz in FY1H24 to US$1038/oz from FY27. This is not only due to lower costs at Mintails but also further cost savings expected at both Evander and Barberton.
Initiate with a BUY rating and 31p target price
We value Pan African Resources using a 50/50 average of our longer-term NAV-based valuation (at 1.0x) combined with our shorter-term EV/EBITDA-based valuation (at 4.5x). With a 2024 NAV valuation of 33p, we estimate that PAF is currently trading 0.70x NAV, in line with other global peers. However, with a greater FCF forecast when Mintails is in production, we see further upside to our NAV in the coming two years. We set our initial price target on Pan African Resources at 31p. With 35% potential upside
My holding is Messive here as well and I’m well into profit having bought at 13-16p, my view is Mintals is coming online soon, we are making tons of $$ at the moment, dividend will increase, the only way is UP from here not down, even at gold $2000. Once the financials are out , I don’t see this trading at these levels. Not many Goldie’s at this price with PE3. I was tempted to trade as well but too risky of missing out
With news around the corner and PE of 3 don’t think this will drop much and if it does it will recover pretty quickly, plenty of buying at this level as PAF is due a re-rate. For me it’s too risky to trade PAF.
Gas fee wait till the financials come out, we will see a huge leg upwards esp with Mintals around the corner, I’m not selling a share till we are in the 50s and I been riding this since 13p so well in profit. This is too cheap at these levels and current gold price.