http://moneyam.uk-wire.com/cgi-bin/articles/20050126070000PE650.html

15.675p +0.25p

so far so good this morning though I was expecting just a bit more rise of a rise, after the POG movement late yesterday.

Yet is a bit early, and not much is going on on the trading front, but at least the order book is much stronger on the bid side DEPTH 26 v 17

"[The] High Court of South Africa exposes the Department of Mineral Resources (DMR) as an irrational institution with a high degree of incompetence that obstructs the mining investment it is meant to facilitate, lacks energy in resolving issues, allows appeal processes to drag on for years and establishes a case for its own substitution."

You'd be forgiven if you thought this story was about the EMRA

http://www.miningweekly.com/article/court-exposes-dmr-as-incompetent-irrational-investment-obstructor-2017-01-11

A very strong order book after the normal UT at 12:02 with all the trades at 16p taken with "AT"s but strait away another 25K was added from the iceberg.

spread 15.75 v 16p with 110K v 75K at price
order book DEPTH 42 v 13

a $14.2 rise on the gold price now to $1205.5 that is close to the best of the day after some profit taking after lunch

A large buy trade earlier on has make a big difference at the order book as there is not many shares left at the offer side till 17p

13:08:27
16.00p
588,370

OFFER GONE TO 16.50p and they have added a few trades but not much volume 41K, the 16.75p trades are gone withdrawn so next price is 17p

16.50p +0.75p

Are we getting the much expected rise on the share price?

so far a bit more than the usual 0.25p rise, as "AT"s at 16.75p are being taken already after being added 1 minutes before

only 7K left at 16.75p offer

SA quote - jse

https://finance.google.com/finance?q=JSE:PAN

TRADING STATEMENT AND OPERATIONAL UPDATE FOR THE SIX MONTHS REPORTING PERIOD ENDED 31 DECEMBER 2016

TRADING STATEMENT

For the reporting period ended 31 December 2015 (prior reporting period), the average ZAR:GBP exchange rate was ZAR20.83:1. For the current reporting period, the ZAR appreciated against the GBP, with an average exchange rate of ZAR17.88:1. This 14.2 percent period-on-period appreciation in the average exchange rate should be taken into account for the purposes of comparing results with the prior reporting period.

Pan African advises shareholders that its EPS and HEPS for the current reporting period are expected to be between:

EPS in ZAR terms: 23 percent to 43 percent higher than the 12.43 cents EPS for the prior reporting period (therefore estimated EPS of 15.34 cents to 17.82 cents).

HEPS in ZAR terms: 21 percent to 41 percent higher than the 12.43 cents HEPS for the prior reporting period (therefore estimated HEPS of 15.08 cents to 17.56 cents).

Using the average ZAR:GBP 17.88:1 exchange rate that prevailed during the current reporting period, the Groups EPS and HEPS in GBP terms for the current reporting period are expected to be between:

EPS in GBP terms: 45 percent to 65 percent higher than the 0.60 pence EPS for the prior reporting period (therefore estimated EPS of 0.87 pence to 0.99 pence).

HEPS in GBP terms: 42 percent to 62 percent higher than the 0.60 pence HEPS for the prior reporting period (therefore estimated HEPS of 0.85 pence to 0.97 pence).

StockMarketWire.com
Pan African Resources has reported a fatality at the Evander 7 shaft complex on Feb. 15, and lowered its FY gold output guidance as it provided further details on the Evander shafts' refurbishment programmes.

The refurbishment cost of about R40m would be funded from Pan African's existing banking facilities. The nature of these refurbishments required a suspension of Evander's underground mining operations for a period of up to 55 days, during which critical infrastructure issues would be addressed.

In light of these recent developments, Pan African said it had revised its gold production guidance for the financial year ending 30 June 2017 from 195,000 ounces to about 181,000 ounces.

"Evander's tailings and surface operations would be unaffected by the underground mining suspension," the company said.

BACKGROUND
In conjunction with the 7A shaft refurbishment programme, Evander's management initiated a number of independent and internal engineering studies to assess the condition of Evander's underground mining infrastructure (both Evander 7 and 8 shafts), the company said.

"These studies identified critical infrastructure issues requiring remedial action, to ensure safe and sustainable operation of these shafts."

Referring again to the fatality, Pan African said that an engineering assistant sustained a fatal head injury when a section of the main shaft pump column failed as he worked in the shaft bottom area.

Interim Results for the 6 months ended 31 Dec 2016

PRN

Pan African Resources PLC

('Pan African Resources' or the 'company' or the 'group')

(Incorporated and registered on 25 February 2000 in England and Wales under the Companies Act 1985, registration number 3937466)

Share code on AIM : PAF
Share code on JSE : PAN
ISIN : GB0004300496
Interim unaudited results for the six months ended 31 December 2016

Cobus Loots, CEO of Pan African Resources commented:

Pan African Resources generated higher earnings, revenues and a record dividend pay-out of R300 million (GBP17.1 million), despite lower production from our gold operations. The Elikhulu Tailings Retreatment Project (Elikhulu), which was approved by the Pan African Resources Board during the period under review, will provide organic production growth of approximately 56,000oz of gold per annum, and also reduce the overall cost profile of our operations. Elikhulu reflects Pan African Resources strategy of delivering long-life, low cost quality production ounces, with the focus of generating attractive returns for our shareholders.

Transactions completed in the prior financial year have positively impacted results in the current reporting period and have been extremely value accretive. The PAR Gold Proprietary Limited (PAR Gold) acquisition enhanced earnings per share by 17.7%. Uitkomst Colliery contributed R21.3 million, or 8.5%, towards the groups profit after taxation.

Our immediate focus is to recommence the Evander Mines underground mining operations, following the temporary suspension of mining to refurbish critical infrastructure, and to finalise the Elikhulu funding package.

Key features reported in South African Rand (ZAR or R) and Pound Sterling (GBP)

Financial key features

The groups profit after taxation in ZAR terms increased by 9.8% to R249.8 million (2015: R227.6 million), while in GBP terms, the groups profit after taxation increased by 28.4% to GBP14.0 million (2015: GBP10.9 million).
Earnings per share (EPS) increased by 33.4% to 16.58 cents per share (2015: 12.43 cents per share), while in GBP terms, EPS increased by 55.0% to 0.93 pence per share (2015: 0.60 pence per share).
Group revenue increased by 19.2% to R1,878.2 million (2015: R1,575.4 million) and, in GBP terms, group revenue increased by 38.9% to GBP105.0 million (2015: GBP75.6 million). This increase was due to an increase in the ZAR gold price received and the inclusion of Uitkomst Collierys revenue of R225 million (GBP12.6 million), in the current period (2015: Nil).
The group paid a final dividend of R300 million or GBP17.1 million (2015: R210 million or GBP9.7 million) on 22 December 2016, relating to the 2016 financial year. This dividend equated to R0.1544 per share or 0.88 pence per share (2015: R0.1147 per share or 0.53 pence per share).
The Pan African board of directors (the board) approved the Elikhulu project, subject to certainty on the funding of the project.
The Uitkomst Colliery performed well and contributed R21.3 million (2015: Nil), or 8.5%, to the groups profit after taxation.
The PAR Gold transaction (previously named the Shanduka Gold transaction) contributed an additional 17.7% to the groups EPS.
Operational key features

Group gold production decreased by 10.0% to 91,613oz (2015: 101,797oz).
Effective rand gold price received increased by 16.5% to R565,298/kg (2015: R485,215/kg) and, in USD terms, it increased by 13.2% to USD1,257/oz (2015:USD1,110/oz).
Due to the lower gold production, all-in sustaining cost per kilogramme increased in ZAR terms to R456,187/kg (2015: R396,819/kg) and, in USD terms, all-in sustaining cost per ounce increased to USD1,014/oz (2015:USD908/oz).
Uitkomst Colliery produced and sold 127,605 tonnes of coal from the underground mining operations and 199,597 tonnes of coal acquired from third parties for blending and processing.
Phoenix Platinum Mining Proprietary Limited (Phoenix Platinum) increased platinum group elements (PGE) production by 1.8% to 4,574oz (2015: 4,493oz).
Group gold resources remained similar relative to the prior financial year ending 30 June 2016 at 34.9Moz (30 June 2015: 31.9Moz).
The group is pleased to report no fatalities in the reporting period (2015: no fatalities) and an improved overall group safety performance.

Peel Hunt today downgrades its investment rating on Pan African Resources PLC (LON:PAF) to add (from buy) and raised its price target to 19p (from 18p)

Holding well into a new high lately 16p bid

strange trade earlier on of 1 share, most people thing is a sign of a RNS on the way, many times is true, lets wait and see

08:18:52
16.00p
1

I wonder if they paid the usual broker commission ?

time to start buying the stock?

Has been bouncing from this support price 13.125p ( 13 v 13.25p) on the past
A very strong order book as it reaches this point
Gold is holding after the lately rise
Production problems are behind
Mining charter suspended

Current order book on the bid/ offer price is 453k v 76k

DEPTH
45 v 22

A very good start of the day as the opening is positive and so far is supporting a higher bid/offer 13.50 v 13.75p

14.375p + 1.675p

A super day after being marked down at the beginning of the week

Market is well down for the second day

another good day now 14.875p +0.675p

S A www.google.co.uk/search?q=pan+african+resources+South+African+share+price&oq=pan+african+resources+South+African+share+price&gs_l=psy-ab.3...32959.64227.0.66127.29.29.0.0.0.0.108.1924.28j1.29.0....0...1.1.64.psy-ab..0.15.995...0j35i39k1j33i22i29i30k1j0i22i30k1.VjLvgKMHpX8

Sold ( close bargain ) @ 14.75p

has been rising to the top of the BB and Indicators at overbought
Though the 14.75p was on the bid side, one was not able to sell online, so the broker had to do the job.

11.32% profit on 2 weeks

Bought again @ 13.25p

13.125p spread 13 - 13.25p

Looks reeady for the turn as it reaches a support point, and good size buys are showing on the ticker. Order book very strong on the bid side at the moment after the movement down this morning .

SA quote ... SA quote

Finals

Pan African Resources announcing annual results to June 30 today, saw revenue drop 15.5% year-on-year.

In ZAR terms, group profit after taxation decreased by 43.3% to R309.9 million (2016: R547.0 million), while in GBP terms, group profit after taxation decreased by 29.8% to GBP17.9 million (2016: GBP25.5 million). Profits were adversely impacted by reduced gold production and a flat rand gold price during the year.

Earnings per share (EPS) decreased by 34.4% to 19.81 cents per share (2016: 30.20 cents per share), while in GBP terms, EPS decreased by 19.1% to 1.14 pence per share (2016: 1.41 pence per share).

CEO Cobus Loots commented: The 2017 financial year was operationally challenging. The remedial actions successfully implemented by management are however delivering the expected results. We have appropriately addressed critical shaft infrastructure repairs at Evander Mines, and the operations cost base is now leaner, without compromising the safety or sustainability of the business.
Pan African Resources looks forward to a much improved performance from Evander Mines in the 2018 financial year, with a substantial increase in expected gold production.
Despite mining flexibility challenges, Barberton Mines, our flagship long-life cash flow producer, is currently mining high-grade panels in its Fairview 11-block and is poised to contribute substantially to our production guidance of 190,000oz for the 2018 financial year. The Elikhulu Project is on schedule, with environmental approvals now in place, and is expected to produce first gold in the final quarter of the 2018 calendar year.
Additionally, we are excited about the prospects for Evander Mines 2010 Pay Channel project and our team has commenced a feasibility study on this project.