reading the latest MD&A and cash position is tighter than i thought, sitting around R180m heading into the…by @thuli_dd on $PAN

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.