marktime1231
04 May 2018
Evander mine closure PAF announced yesterday an agreement (under a sort of unionised procedure) to close the Evander mine underground workings. It says the Evander underground part of PAF's activity was highly loss-making, partly due to the Rand strengthening against the dollar. I would say more fundamentally uneconomic, well past time it was shut down. I guess South Africa has government strictures which makes that more than just a simple commercial decision, PAF is under a statutory obligation to protect the workforce.The rest of PAF's activity is said to be cash flow and net earnings positive, so there will be good news to follow despite an immediate restructuring cost, overall gold production in 2018 will be reduced by about 12%. Mining at Elikhulu the next big project coming on stream in Sep 2018 should put PAF back in good shape for 2019.Well I have looked at USD:ZAR and the 2017 trend from 13.5 to 11.5 has reversed to 12.5 in the last 6 weeks. I can't see how that causes all the problems decscribed by CEO Loots (yes, Loots!!) but obviously PAF's fortunes are highly sensitive to exchange rates. We are rooting for a stronger dollar while the gold price holds up because that translates into lower production costs and higher margins, same as all gold miners. PAF will carry higher debt as a result but I am hopeful this announcement signals the low point, I remain hopeful of a small dividend and sp recovery to 12-14p by the end of the year. Numis agree and project 16p.
Thedarkkn1ght
30 Apr 2018
Re: re:down 8% Can never trust buy and sell data but looks like a sell yes.14:18 - 30/04Sell 1000000 6.90p £69,000.0012
0 - 30/04Sell 699071 7.00p £48,934.9715:17 - 30/04Buy 250000 7.06p £17,650.00Could be a delayed reaction to Mantashe appealing the BEE court ruling (to stay the same at 26%) last week - very delayed though!Very bizarre for this share to be trading at barely 4x projected earnings.
sllab
30 Apr 2018
re:down 8% And look at that 1,000,000 trade!
Thedarkkn1ght
30 Apr 2018
Down 8%! Bizarre drop.Answers on a postcard please!
marktime1231
26 Apr 2018
Double Dup at 7.4p this morning based on an unscientific feeling that this is the early stage of a recovery gaining momentum.
the old trout
25 Apr 2018
Re: A first nibble Thanks Andy,Interesting article, and whilst sentiment indicators have some merit in the short term, one of the reasons I am here is the coming trade wars which are likely to be highly inflationary. We can but hope that they don't lead to real wars.The other reason I am here is that the stock looked really oversold, pays a decent dividend, and appeared to be putting in a bottom from the long downtrend. On the daily chart I am now seeing positive RSI and momentum divergences, so I added a second tranche today:AF&display=javachartFirst" target="blank" rel="nofollow">[link] target is 10p, but it should do a lot better than that if Gold breaks out of its recent trading range.ATB,T
Stonefold
25 Apr 2018
Re: Rally The exchange rate is currently drifting in a friendly direction.1 USD =12.4869 ZARWhich gives a gold price per oz of 16,463 ZAR===There is a fault with the trade prices for large transaction sizes, the value is being divided by 100.For example on 25-04-2018AF/trades14:41:330.07418" target="blank" rel="nofollow">[link] 2,500,000 1,855 Should read as14:41:337.418 2,500,000 185,450 Or perhaps some lucky person got a bit of a bargain.
marktime1231
25 Apr 2018
Rally PAF will rally on good news about its own business, I am here for that rather than a breakout in market sentiment for gold. Plenty of buyers today.
Andy Reilly
24 Apr 2018
Re: A first nibble Tot - found this interesting link on marketwatch:[link] talkes a look at sentiment towards gold - which hasnt performed nearly as well as I had hoped - BUT I can afford to be patient.... Gold will have another spurt at some time (when?) Lets just hope it isnt on the back of dire news! Hope all goes well, and I feel that your buy is pretty well timed -
the old trout
18 Apr 2018
Re: A first nibble Just had my first nibble here too, although my 50k buy at 7.1 is shown as a sell on Money AM as the sneaky MM's moved up the offer as I bought. If you want a juicy and hopefully increasing yield as the POG moves up now is the time to pile in imo, and I will add once the breakout in POG is confirmed.Good luck all,T
marktime1231
17 Apr 2018
A first nibble at 7.1p in the hope of better government and labour relations returning to SA, a more stable exchange rate, and sustained gold prices eg $1,250+. Can we look forward to eps sufficient for at least a 0.5p dividend and progress based on current outlook? Possibly.
defender2084
17 Apr 2018
Re: Ramaphosa - No nationalisation He’s on the front page of Moneyweek which contains an article claiming SA is a good place to invest in. Chronic Investor, a few weeks ago, said his leadership would strengthen the Rand. Their sell recommendation was before the two excellent updates and they forgot to mention Elikhulu!def ‘84
forwardloop
17 Apr 2018
on track for 177,000 -181,000 oz AU 2018 [link]
Thedarkkn1ght
18 Mar 2018
Ramaphosa - No nationalisation CAPE TOWN - President Cyril Ramaphosa has ruled out the nationalisation of mines which do not comply with the mining charter.Answering questions in the National Assembly on Wednesday afternoon, Ramaphosa said a new Mining Charter would be drafted within the next three months, after the Chamber of Mines last month agreed to halt its court challenge against the reviewed charter.
kragero
15 Mar 2018
Re: Could be a bluff Wow, Gavster is back after a 4 year break!
