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...
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...
Pan 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....
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...
Pan 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...
See link below for previous analysis.
After a protracted bearish correction from 642 to 283 for wave (4), PAN stock rallied to 485 before selling off to 285.
The rallies off of 283 and 285 have created a double bottom pattern with a neckline at 485.
The double bottom price target is 685 and aligns with the stock being in wave (5).
The invalidation level of this...
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...
This 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...
Pan 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....
A price action below 330 supports a bearish trend direction.
Crossing below 310 might strengthen the bearish trend direction.
The target price is set at 280.
The stop-loss price is set at 350.
Crossed below its 200-day and 200-week simple moving averages.
Remains a very risky trade.
PAN African Resource is showing a Skewed IH&S Pattern.
Pan African Resources (PAF, PAN.JO) secured a 1.3 Billion-Rand
funding from Rand Merchant Bank and Nedbank
for its Mintails project in South Africa .
The Chart is self explanatory.
I Trust the Pattern plays out for those Invested.
Comments or thoughts are welcome.
Regards Graham.
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...
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...
Whilst other gold stocks have begun their pullbacks from recent highs, PAN is the only share to have have completely pared all gains from its highs of around 4.85. It has overshot the important R3 horizontal support and is now looking to retest 2.85 again.
Trade with caution as Gold price looks weak too.
Pan 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...
PAN 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),...
The share is in a bearish wedge with expectation to break to the downside. The move down would have extend further but is expected to be halted by the bottom trendline of the channel. Open a long position on price finding support at trendline or when it makes a swing low indicating a reversal to the upside with expectation of breaking out of the channel resistance.
