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PAN AFRICAN RESOURCE PLCPAN AFRICAN RESOURCE PLCPAN AFRICAN RESOURCE PLC

PAN AFRICAN RESOURCE PLC

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Our opinion on the current state of PAN-AF(PAN)Pan African Resources (PAN) is a gold mining company listed on both the London and Johannesburg Stock Exchanges, with a focus on re-treatment gold production. With the Elikhulu plant, it has significantly enhanced its production capacity, with the potential to produce approximately 700,000 ounces of gold annually at a cost of around R450,564 per kilogram. Given the current gold price hovering around R1 million per kilogram, this presents a substantial profit margin for the company. The Elikhulu plant is expected to generate approximately R15 billion in revenue over its life, with R5.3 billion contributing back to the economy. This has established Pan African Resources as a highly profitable entity with relatively low operational risks, especially given that re-treatment operations typically have fewer uncertainties compared to traditional mining. The company has also embraced renewable energy by approving the construction of a 10MW solar power plant, which should help reduce its reliance on grid electricity and lower operating costs in the long term. In its financial results for the six months ending 31st December 2023, Pan African Resources reported gold production up 6.7% and all-in sustaining costs (AISC) of $1287 per ounce, against a gold price of just over $2000 per ounce. This margin underscores the company's profitability. Headline earnings increased by 46.4%, while earnings per share (EPS) were up 46.1%. At the reporting period-end, the company had access to $31.3 million in cash and $86.4 million in undrawn credit facilities, maintaining a healthy liquidity position. For the year ending 30th June 2024, the company continued to perform well, with production up 6.2% and AISC at $1350 per ounce. The average gold price over the period was $2021 per ounce. Net debt increased to $106.4 million due to construction costs at the MTR project. On 4th June 2024, the company secured a five-year wage agreement with the National Union of Mineworkers (NUM) for an annual increase of 5.3%, which provides stability in its labor costs. In its trading statement for the year ending 30th June 2024, the company estimated a headline earnings per share (HEPS) increase of between 27% and 37%, driven by a 16.8% increase in revenue, mainly due to higher gold sales and an 11.3% increase in the average US dollar gold price. Technically, the share has been in an upward trend since reaching a low of 288c in June 2023. It was added to the Winning Shares List (WSL) on 31st January 2024 at 430c and has since risen to 692c, representing strong growth. While Pan African Resources presents a good investment opportunity, especially given the upward momentum of the gold price, investors should remain cautious due to the inherent volatility of the gold market and the company's exposure to fluctuating gold prices. However, with gold breaking above long-term resistance at $2060, it could offer a speculative opportunity for those willing to take on some risk.
JSE:PAN
by PDSnetSA
$JSEPAN - Pan African Resources: Target Reached, More Upside?See link below for previous analysis. The double bottom target and new all time high of 685 cps has been reached and exceeded. Looking at the price structure from 283 cps, I am now viewing the advance as a five wave impulse that is currently in wave 3 of (5). A correction for wave 4 will set the scene for further advance in wave 5; in commodities and commodity stocks, fifth waves tend to be larger than third waves which is very bullish for PAN. Buy the dips.
JSE:PANLong
by Loyiso_BlaqueSoros_Mpeta
1
Our opinion on the current state of Pan African Resources (PAN)Pan African Resources (PAN) is a London- and JSE-listed re-treatment gold producer. With its Elikhulu plant, it will be able to produce about 700,000 ounces of gold a year at a cost of about R450,564 per kilogram against a current gold price of close to R1m. This means that over its life, it will produce revenue of approximately R15bn, of which R5.3bn will go back into the economy in the form of mine expenses, creating a highly profitable entity with minimal risks. It will also employ 350 people. The company has approved the construction of a 10MW solar power plant. In its results for the six months to 31st December 2023, the company reported gold production up 6.7% and all-in sustaining costs (AISC) of $1287 per ounce (against a gold price of just over $2000). Headline earnings were up 46.4% and earnings per share (EPS) was up 46.1%. The company said, "Liquidity remains healthy, with access to immediately available cash of US$31.3 million (2022: US$33.9 million) and undrawn facilities of US$86.4 million (2022: US$52.1 million) at the reporting period-end." In an operational update for the year to 30th June 2024, the company reported production up 6.2% with an average gold price of $2021 and all-in sustaining costs of $1350 per ounce. The company said, "Net debt at the end of the Reporting Period increased to US$106.4 million (FY2023: US$22.0 million), mainly attributable to construction costs at the MTR Project." On 4th June 2024, the company announced that it signed a five-year wage deal with the National Union of Mineworkers (NUM) for an increase of 5.3% per annum over the period. Technically, the share has been in an upward trend since its low of 288c in June 2023, and we added it to the Winning Shares List (WSL) on 31st January 2024 at 430c. It has since risen to 673c. We see this as a good operation but volatile, which means considerable risk. We would advise investors to be cautious, but with the gold price having broken convincingly above long-term resistance at $2060, it could be a good speculation.
JSE:PAN
by PDSnetSA
Our opinion on the current state of PAN-AF(PAN)Pan African Resources (PAN) is a London- and JSE-listed re-treatment gold producer. With its Elikhulu plant, it will be able to produce about 700,000 ounces of gold a year at a cost of about R450,564 per kilogram, against a current gold price of close to R1 million. This means that over its life, it will produce revenue of approximately R15 billion, of which R5.3 billion will go back into the economy in the form of mine expenses, creating a highly profitable entity with minimal risks. It will also employ 350 people. The company has approved the construction of a 10 MW solar power plant. In its results for the six months to 31st December 2023, the company reported gold production up 6.7% and all-in sustaining costs (AISC) of $1287 per ounce (against a gold price of just over $2000). Headline earnings were up 46.4% and earnings per share (EPS) was up 46.1%. The company said, "Liquidity remains healthy, with access to immediately available cash of US$31.3 million (2022: US$33.9 million) and undrawn facilities of US$86.4 million (2022: US$52.1 million) at the reporting period-end." In a revised production guidance for the year to 30th June 2024, the company said it expected to produce between 186,000 and 190,000 ounces at an all-in-sustaining cost of between $1325 and $1350 per ounce. On 4th June 2024, the company announced that it signed a five-year wage deal with the National Union of Mineworkers (NUM) for an increase of 5.3% per annum over the period. Technically, the share has been in an upward trend since its low of 288c in June 2023. We see this as a good operation, but volatile, which means considerable risk. We would advise investors to be cautious, but with the gold price having broken convincingly above long-term resistance at $2060, it could be a good speculation.
JSE:PAN
by PDSnetSA
Our opinion on the current state of PAN-AF(PAN)Pan African Resources (PAN) is a gold producer listed on both the London and Johannesburg Stock Exchanges. With its Elikhulu plant, it is set to produce approximately 700,000 ounces of gold annually at a cost of roughly R450,564 per kilogram, against a current gold price near R1 million. Over its lifespan, the plant is projected to generate around R15 billion in revenue, with R5.3 billion of that reinvested into the economy via mining expenses. The operation is also expected to employ 350 people. The company has approved the construction of a 10MW solar power plant. In its results for the six months to 31st December 2023, the company reported a 6.7% increase in gold production with all-in sustaining costs (AISC) of $1,287 per ounce, compared to a gold price exceeding $2,000. Headline earnings rose by 46.4%, and earnings per share (EPS) climbed by 46.1%. The company stated, "Liquidity remains healthy, with access to immediately available cash of US$31.3 million (2022: US$33.9 million) and undrawn facilities of US$86.4 million (2022: US$52.1 million) at the reporting period-end." In a revised production guidance for the year ending 30th June 2024, the company anticipated production of 186,000 to 190,000 ounces at an AISC ranging from $1,325 to $1,350 per ounce. Technically, the share has been in an upward trend since reaching a low of 288c in June 2023. While this is a promising operation, the volatility means there are considerable risks. Therefore, investors should proceed cautiously. However, with the gold price having convincingly broken above the long-term resistance of $2,060, this could be a favorable speculative opportunity.
JSE:PAN
by PDSnetSA
UPDATE: Pan Africa hit the target at R.475 - Do we sell?Well this analysis took forever. The price broke above the Broadening Reverse Symmetrical Triangle (If there is such a thing) in June 2023. If you held on this long to exit and bank a profit, you would be lucky if you even made some money considering the daily interest charges on CFDs... However as a share and equity investor, this position would have been the perfect medium term trade. Sometimes, when I project such large targets, I think of just going back into equities. Regardless, the trend id still up - Gold is still bullish and out other Gold positions are all longs. So, keep to the trend until it bends... Uncle T out.
JSE:PANLong
by Timonrosso
1
Our opinion on the current state of PANPan African Resources, dual-listed on the London and Johannesburg Stock Exchanges, operates as a re-treatment gold producer, prominently featuring its Elikhulu plant. This facility positions the company to produce approximately 700,000 ounces of gold annually at a cost of around R450,564 per kilogram, significantly below the current gold price close to R1 million. Such efficiency suggests that over its lifetime, Elikhulu is projected to generate revenue of about R15 billion, with R5.3 billion reinvested into the economy through mine expenses, highlighting the operation's profitability and low-risk profile. The plant's operation will also create jobs for 350 individuals, underscoring its economic contribution. Further demonstrating its commitment to sustainability and efficiency, Pan African Resources has greenlit the construction of a 10 MW solar power plant, aligning with global trends towards renewable energy in the mining sector. For the six months ending on 31st December 2023, the company reported a 6.7% increase in gold production and all-in sustaining costs (AISC) of $1287 per ounce, which is competitive given the gold price hovering just over $2000. The period saw headline earnings surge by 46.4% and earnings per share (EPS) increase by 46.1%. The company maintained healthy liquidity, with immediate access to cash reserves of US$31.3 million and undrawn facilities amounting to US$86.4 million by the end of the reporting period. The stock has exhibited an upward trend since reaching a low of 288c in June 2023, reflecting positive investor sentiment and the company's operational success. However, despite the apparent operational strengths and financial health of Pan African Resources, the inherent volatility in gold prices and the mining sector at large suggests a degree of investment risk. Investors are advised to exercise caution, especially considering the speculative nature of gold investments. The potential for the gold price to break above the long-term resistance level of $2070 presents an enticing prospect for speculative investment, yet it underscores the need for investors to remain vigilant and informed about market dynamics and the company's performance.
JSE:PAN
by PDSnetSA
Vuvuzela wins again but this time it's a Pan to R4.75!We sent out this update in July 2023, where a Vuvuzela (Broadening Formation) formed. INstead of waiting for a breakout, we were playing with the pattern's range instead. Since it bounced off the Support level it's been on the way to R4.75. And you can see the price almost touched it, before retracing back to the uptrend line. So have we been getting it right? SO far yes. Have we been coining it? HARD NO. Sometimes it doesn't pay to hold because of the daily interest charges that lovely CFDs bestow upon us. And this is a clear example on why it's tough to invest in the CFD market. The target remains to R4.75. And we'll take our pennies and run when it hits. Also, in the interim it seems to be forming a Diamond Formation similar to Gold stocks. So maybe a bigger breakout is imminent. I explained why we can expect gold to rally due to what's happening in the US.
JSE:PANLong
by Timonrosso
Our opinion on the current state of PANPan African Resources (PAN) is a re-treatment gold producer listed on both the London Stock Exchange (LSE) and the Johannesburg Stock Exchange (JSE). Thanks to its Elikhulu plant, the company has the capacity to produce approximately 700,000 ounces of gold annually, with a production cost of around R450,564 per kilogram. Considering the current gold price is close to R1 million, this positions Pan African Resources to generate significant revenue, totaling around R15 billion over its operational life. Of this revenue, approximately R5.3 billion will be reinvested into the economy to cover mine-related expenses, establishing a highly profitable entity with minimal risks. The company also plays a role in employment by providing jobs for 350 people. Moreover, Pan African Resources has received approval for the construction of a 10-megawatt solar power plant. In its financial results for the year ending on June 30, 2023, Pan African Resources reported a gold production of 175,209 ounces, compared to 205,688 ounces in the preceding year. Headline earnings per share (HEPS) amounted to 3.15 cents (US), down from 3.93 cents in the previous period. The company emphasized its healthy liquidity position, with access to immediately available cash and undrawn facilities totaling US$84.7 million (compared to US$69.4 million in 2022) at the financial year-end. Providing an update on the six months to December 31, 2023, Pan African Resources noted a 13.7% increase in the received gold price and a 6.7% rise in gold production. The all-in sustaining costs for producing one ounce of gold amounted to $1,300, compared to the prevailing gold price of $2,022. In a trading statement for the six months to December 31, 2023, the company estimated that HEPS would increase by a range of 41% to 51% (in US dollars). This anticipated growth is primarily attributed to an 8.9% increase in the volume of gold sold and a 13.7% boost in the average gold price received. From a technical perspective, the share price of Pan African Resources experienced a decline from its peak of 623 cents in August 2020 to levels around 295 cents in September 2021. Subsequently, it embarked on an upward trajectory, reaching a high of 458 cents in March 2022. Following this peak, the share exhibited a period of volatility and entered a downward trend. It is currently trading at 434 cents. This pattern suggests that Pan African Resources is a somewhat marginal and volatile investment, accompanied by inherent risks. Caution is advised, but with the gold price poised to potentially surpass long-term resistance at $2,070, it could offer speculative opportunities.
JSE:PAN
by PDSnetSA
Our opinion on the current state of PANPan African Resources (PAN) is a London- and JSE-listed re-treatment gold producer. With its Elikhulu plant it will be able to produce about 700 000 ounces of gold a year at a cost of about R450 564 per kilogram against a current gold price of close to R1m. This means that over its life it will produce revenue of approximately R15bn of which R5,3bn will go back into the economy in the form of mine expenses, creating a highly profitable entity with minimal risks. It will also employ 350 people. The company has approved the construction of a 10mw solar power plant. In its results for the year to 30th June 2023 the company reported gold production of 175209oz compared with 205688oz in the previous year. Headline earnings per share (HEPS) was 3,15c (US) compared with 3,93c in the previous period. The company said, "Liquidity remains healthy, with access to immediately available cash and undrawn facilities of US$84.7 million (2022: US$69.4 million) at financial year-end." In an update on the six months to 31st December 2023 the company reported the received gold price up 13,7% and gold production up 6,7%. All-in sustaining costs of producing one ounce of gold came in at $1300 - which compares with the gold price of $2022. Technically, the share fell from a high of 623c in August 2020 to levels around 295c in September 2021. It then entered an upward trend which has taken it to a high 458c in March 2022. Since then it has been in a volatile downward trend and is now trading for 398c. We see this as a marginal, volatile operation which involves considerable risk. We would advise investors to be cautious, but with the gold price poised to break above long-term resistance at $2070 it could be a good speculation.
JSE:PAN
by PDSnetSA
#PAN Monthly chart looking very constructive for bigger moveThis has to be one of the best looking Gold mining stocks you are going to find. Since 2008 it has consistently moved higher, something not often see in this volatile sector. A well-run operation and the chart proves just that. As this is a monthly chart, the time on this is more longer-term in nature but I think It's not a bad stock to put in the bottom drawer and forget about it. With gold looking likely to blast above $2000 in the next few weeks or months, this stock can be a massive beneficiary of such a spike in the gold price. Chart has been in a solid uptrend with an increasing >50 month ma, higher lows and looks to be consolidating now with a sold base at R2.80-R3.00. It has also bounced off the uptrend from 2018 and also seems to be forming a triangle formation if you looking at closing prices. Triangles are generally bullish continuation patterns with an expectation for the next move to continue in the direction of the preceding move which is up. Comments on the indicators can be seen on the chart and also supports the constructive price action. All in all - I think this is a great setup for a medium-longer term hold.
JSE:PANLong
by MarcoOlevano
2
UPDATE: Pan Africa's Diamond is still shining to R4.75Pan Africa initially formed a Boradening formation since July 2023. We sent out that it was going to do nothing more than bounce in it's current support and pattern and head on up... During the uptrend, it's been evident that the support level is strong and holding. This means, it's in the process of forming a Diamond Formation. The target remains at R4.75. However if it breaks above there, we are talking another big move up to R7.20. I believe technically, it's a great stock to have invested in and to just keep holding... With the gold price also looking strong and bullish, this helps with the analysis...
JSE:PANLong
by Timonrosso
Our opinion on the current state of PANPan African Resources (PAN) is a London- and JSE-listed re-treatment gold producer. With its Elikhulu plant it will be able to produce about 700 000 ounces of gold a year at a cost of about R450 564 per kilogram against a current gold price of close to R1m. This means that over its life it will produce revenue of approximately R15bn of which R5,3bn will go back into the economy in the form of mine expenses, creating a highly profitable entity with minimal risks. It will also employ 350 people. The company has approved the construction of a 10mw solar power plant. In its results for the year to 30th June 2023 the company reported gold production of 175209oz compared with 205688oz in the previous year. Headline earnings per share (HEPS) was 3,15c (US) compared with 3,93c in the previous period. The company said, "Liquidity remains healthy, with access to immediately available cash and undrawn facilities of US$84.7 million (2022: US$69.4 million) at financial year-end". Technically, the share fell from a high of 623c in August 2020 to levels around 295c in September 2021. It then entered an upward trend which has taken it to a high 458c in March 2022. Since then it has been falling and is now trading for 328c. We see this as a marginal, volatile operation which involves considerable risk. We would advise investors to be cautious.
JSE:PAN
by PDSnetSA
Our opinion on the current state of PANPan African Resources (PAN) is a London- and JSE-listed re-treatment gold producer. With its Elikhulu plant it will be able to produce about 700 000 ounces of gold a year at a cost of about R450 564 per kilogram against a current gold price of close to R1m. This means that over its life it will produce revenue of approximately R15bn of which R5,3bn will go back into the economy in the form of mine expenses, creating a highly profitable entity with minimal risks. It will also employ 350 people. The company has approved the construction of a 10mw solar power plant. In its results for the six months to 31st December 2022 the company reported gold production of 92307 ounces down from 2021's 108085 ounces. All-in sustaining costs were $1291 per ounce compared with $1173 in the previous period. Headline earnings per share (HEPS) fell to 1,52c (US) compared to 2,39c in the previous period. The company said, "Reduced gold production over the past six months can primarily be attributed to the performance of Barberton Mines’ underground operations". In a revised production forecast on 26th May 2023 the company said that it would produce only 175 000 ounces (down from 195 000 ounces) due to loadshedding, a slower ramp up at Barberton and lower production at Evander underground operations. In an operational update for the year to 30th June 2023 the company reported, "Annual gold production of 175,209oz, achieving the revised guidance announced in May 2023. Group net senior debt declined to US$18.9million (December 2022: US$49.9million)". In a trading statement for the year to 30th June 2023 the company estimated that HEPS will fall be between 15% and 25% as a result of the fall in the rand against the US dollar. Technically, the share fell from a high of 623c in August 2020 to levels around 295c in September 2021. It then entered an upward trend which has taken it to a high 458c in March 2022. Since then it has been falling and is now trading for 325c. We see this as a marginal, volatile operation which involves considerable risk. We would advise investors to be cautious.
JSE:PAN
by PDSnetSA
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.
JSE:PANLong
by Timonrosso
1
$JSEPAN - Pan African Resources: Stuck In A Contracting TrianglePAN released a trading statement today for the six months ended 31 December 2022. HEPS and EPS are expected to decrease between 31% and 41%. The decreases in EPS and HEPS for the Current Reporting Period, relative to the Corresponding Reporting Period, are largely as a result of an 19.2% decrease in gold revenue to US$156.5 million (2021: US$193.6 million), attributable to the following: 1-gold sold decreased by 15.6% to 90,439oz (2021: 107,142oz), following record production achieved in the comparative period. 2-the average US$ gold price received decreased by 4.4% to US$1,725/oz (2021: US$1,804/oz). From an Elliott Wave perspective, the market structure from the February 2018 low appears to be forming an impulse pattern. Wave (2) was the March 2020 bottom and wave (3) is a strong move to an all time high driven by the commodity boom just after the covid-19 sell-off. In textbook fashion, after a strong wave (3), the stock is consolidating in a wave (4) triangle pattern. The expectation is a breakout to the upside to complete wave (5) but this will require patience and monitoring the share price towards the apex of the triangle.
JSE:PAN
by Loyiso_BlaqueSoros_Mpeta
1