Interesting play - PAN

[kwagga]

I did some research on this share. I was surprised at what I read. All possitive. I couldn't believe we have a penny share in the Gold sector that's doing so well. A few things strike me as very possitive - They make profit, they are unhedged, they have no debt, they have funds to pay for new projects. They bought Phoenix plat from Metorex for a laugh. They claim they will have output from this platinum venture by mid 2011. Cyril Rhamaphosa is their chairman and his company bought the PAN shareholding Metorex sold off to them. I like the looks of this company.They have everything going for them including one of the richest gold ore per ton mined in SA at their Baberton mine. There is really nothing not to like about this penny share. Moved from the Altx to the main board in 2009. I give it thumbs up for 2010.

[saash]

This sounds like a familiar mine - wasn't it part of the Anglo fold, didn't they farm it off as a BEE development investment venture? There was a BEE investment consortium of sorts involved in the capital funding? Have you seen any reports on the quality of the ore that they are pulling out?

[#3]

Nice spot, will look into it. Think this could be a part of longer term holding. no derivatives I can find so trading costs will kill, but at least expiry date is only delisting ;-)

[kwagga]

The best of all is they're sitting on a PE < 7.89, an earnings yield of 13% and a div yield of 4%. With institutional consensus that gold is one of the few things in 2010 that seems to have a possitive outlook not many things can go wrong with this share. It remains a spec buy though. omo

[topgun]

Only problem is that underground looting and pillaging at its 3 Barberton mines are costing the company in excess of R3m per month. Geologists had initially estimated that the 3 mines had a lifespan of 30 years, but this may have to be revised down to less than 10 years if the theft continues. The Barberton mines are especially vulnerable to illegal mining as the gold-bearing reefs are visible to the naked eye and security costs have rocketed. In Oct'09 alone, security apprehended 588 illegal miners. Casper Strydom, Barberton's GM was recently quoted, "I am positive that in a few months we will get control of our mines back, but at huge cost." The rogue miners are typically armed with AK47s, R5s(!), 9mm pistols, 303s and Makarov rifles according to the town's chief prosecutor. Weekend Argus, Nov. 8, 2009.

[#6]

Yasis...they obviously take thier work quite seriously.

[annie3]

i recommended this share ages ago on the forum.

[KVW]

Went through their AR and they have made provision for the security issue. I think this is a winner and at these values its a bargain, compare DRD to PAN, where would you put your money? Yet DRD trades much higher and at larger vols. Obviously PAN has not been picked up on. Maybe OST can do a report for us......Hint Hint Simon.