Pan Africa dropping first before the next rising level to R4.75Pan Africa is forming a rare Broadening Triangle (Vuvuzela) pattern.
We can expect the price first to drop to R2.75 before it bounces off the support and heads to the next target of R4.75.
We'll be keeping an eye on this one...
ABOUT THE COMPANY
Pan African Resources is a mid-tier Africa-focused gold producer with a production history that spans several decades.
Pan African Resources Plc is a precious metals producer based in South Africa.
The company was incorporated in the United Kingdom.
It is dual-listed on the London Stock Exchange’s AIM market (ticker PAF) and on the Johannesburg Stock Exchange (ticker PAN).
The company primarily engages in the exploration, mining, and production of gold.
As of 2021, Pan African Resources operated several major gold mines in South Africa, including Barberton Mines and Evander Mines.
The company also has tailings retreatment operations, notably the Barberton Tailings Retreatment Plant (BTRP) and the Evander Tailings Retreatment Plant (ETRP).
HOW IT POTENTIALLY GOT ITS NAME
Pan African Resources, as the name suggests, reflects the company's focus on mining and production of resources (such as gold) within the African continent.
The "Pan African" part of the name (Greek for all) signifies its broad focus on Africa as a whole rather than being tied to a specific country within the continent.
