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PAN sitting at R20.59 and the gold backdrop is getting interesting with rates potentially cooling. Anyone holding this long enough to see how the production guidance plays out, or are the margins too squeezed at current grades?
PAN sitting flat at R21 while gold pushes higher. Are we waiting for the next quarterly results to justify a move, or has the market already priced in the operational challenges?
PAN down 4.29% today but the gold setup remains interesting if you're patient. At current valuations the yield is decent and production growth is coming through, so this pullback could be opportunity rather than a warning sign for longer-term holders.
pan sitting at r21.43 but gold stocks aren't moving like they used to. margins getting squeezed with load-shedding costs killing sa producers, ngl the fundamentals aren't there yet to justify holding through another rand spike.
Gold price holding up but PAN sitting at R21.43, thats rough when you look at what they're pulling out of the ground. Production costs keep climbing and rand weakness isn't helping like it used to. Long term play if you believe in the commodity but this year feels like treading water.
interesting numbers on the all-in sustaining costs last quarter, fwiw around 1050/oz if memory serves, which is actually holding up better than some peers when rand weakness kicks in. my reading of this is the operational side isnt the problem, its just the macro headwinds and gold price sentiment thats been dragging it. could be wrong but at 21.43 feels like theres margin of safety if you believe in the long term rand depreciation story
gold is printing money right now and pan sitting at r21.43 is a steal compared to what harmony and sibanye are doing. once spot breaks higher this thing runs to r150 minimum, book it. balance sheet is solid, cash generation is there, just waiting for the move.
Gold holding up okay but PAN's cash position was getting thin last time I looked at the numbers. If the rand stays weak that's good for them, but they need to actually pull more ounces out of the ground to make it stick. Been holding since R18, just watching to see if they can get costs down.
honestly pan's been tough to watch at r22.63, gold's supposed to be our hedge but the rand strength is killing it for local miners right now. compare that to some of the mid tier producers overseas and we're just not getting the same upside even when spot gold moves. the long term play is still there if you believe in south african gold coming back but ngl might be a waiting game
Do you think PAN can actually turn this around without a major capex injection. Gold price is decent but the operational costs in SA are brutal, rand weakness helps on the export side but if they're not hitting production targets how much does it matter. Not sure about this one at R22.63.
reading the latest MD&A and cash position is tighter than i thought, sitting around R180m heading into the second half. gold price holding up but all-in costs creeping north means margins compressing unless they push production numbers harder at Everton. anglogold and harmony are running leaner on their op ex so PAN's got real work to do here to justify the valuation at R22.63.
PAN getting smacked 4.26% today, but at these levels the dividend yield is starting to look decent for a gold producer with decent cash generation. The pullback feels overdone unless there's news I've missed, but gold volatility will keep this choppy.
PAN SITTING AT R25.01 AND PEOPLE ARE SLEEPING!! GOLD PRICES CLIMBING AND THESE GUYS PUMP OUT STEADY PRODUCTION, LOOK WHAT HAPPENED TO HARMONY AND SIBANYE WHEN SPOT MOVED LIKE THIS!! BEST IS YET TO COME!!
after reading the latest md&a, cash position is tighter than i expected. gold price helping but they're burning through capex faster than the rand strength can offset. at r25.01 we're not getting paid for execution risk here, especially with load-shedding costs eating into margins. might wait for a proper dip or better production guidance before adding.
Pan sitting at R25.01 and gold's been kind to us but PAN keeps finding new ways to disappoint on the ops side. Costs creeping up, grades slipping, shareholders getting squeezed between commodity tailwinds and execution headwinds. Unless they sort the Evander mine properly this looks like a slow bleed not a turnaround story.
pulled the latest sens filing, balance sheet holding up better than expected ngl
Current R 21,21 — 50% of range
Fundamentals sourced from JSE disclosures. Updated quarterly.