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Category: Mid-tier Producer
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Pan African Resources Plc
www: www.panafricanresources.com     email: ecoetzee@paf.co.za

Profile
Notes
Forum
Your Data

Symbol Data

Symbol Currency
LON:PAF GBX

Description

Pan African Resources Plc are a gold focused mid-tier producer with two producing mines in South Africa and one mine in development in South Africa. Currently they produce roughly 200koz. of gold per year. They have approximately 30Moz. of gold in the reserves and resources category of which 20Moz. are in the measured and indicated category. They have a market capitalisation of ~£219.73M which is a fall of roughly 52% over the last ten months. As of 09/09/2017 they have ~£103M debt and ~£54.47M cash. They have 2,234M shares outstanding and trade on the London Stock Exchange.

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General Details

Financial 09/09/2017
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Mkt. Cap (FD): $457.82M $219.73M 09/09/2017 $-238.09M
Total Assets: $332.59M $343.15M 09/09/2017 $10.57M
Total Liabilities: $133.30M $137.53M 09/09/2017 $4.23M
Current Assets: $55.43M $57.19M 09/09/2017 $1.76M
Current Liabilities: $42.23M $43.57M 09/09/2017 $1.34M
Total Debt: $100.30M $103.49M 09/09/2017 $3.19M
Cash: $52.79M $54.47M 09/09/2017 $1.68M
Enterprise Value: $505.33M $268.75M 07/08/1978 $-236.58M
Cash Flow: $27.43M $10.14M never $-17.29M
Cash Flow Multiple: 16.69 21.68 never 4.98
Net Debt to
Cash Flow Ratio:
1.73 4.84 never 3.10
Finance within 1 year: 09/09/2017 n/a
Tax Rate: (guess)  30.00% (default)  30.00% 09/09/2017 0.00%
Misc 09/09/2017
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Shares Outstanding: 2,234,000,000 2,234,000,000 09/09/2017 0
Shares (FD): 2,238,000,000 2,238,000,000 09/09/2017 0
Insider Ownership: n/a n/a never n/a
Company Type: Mostly Gold Mostly Gold never n/a
Production ETA: n/a n/a 09/09/2017 n/a
Production (Gold Eq Oz.): (guess) 
200,000
(guess) 
200,000
09/09/2017 0
Production (Silver Eq Oz.): (guess) 
15,004,459
(guess) 
15,989,536
09/09/2017 985,076
Initial CapEx (Outstanding): n/a n/a 09/09/2017 n/a
Funding Option: n/a n/a 09/09/2017 n/a
Documentation: none PRODUCER 09/09/2017 n/a
Value Adjustment: none none never 0%

Resource Data

GOLD 09/09/2017
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: 10.00M 10.00M 09/09/2017 0.00M
Measured & Indicated: 20.00M 20.00M 09/09/2017 0.00M
Inferred: 10.00M 10.00M 09/09/2017 0.00M
Reserves & Resources: 30.00M 30.00M never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: 9.00M 9.00M 09/09/2017 0.00M
Measured & Indicated: 16.20M 16.20M 09/09/2017 0.00M
Inferred: 4.50M 4.50M 09/09/2017 0.00M
Reserves & Resources: 20.70M 20.70M never 0.00M
C
U
R
R
E
N
T
Annual Production: (guess) 
200,000oz.
(guess) 
200,000oz.
09/09/2017 0oz.
Cash Cost: $850 $850 09/09/2017 $0.00
Extra Operating Cost: $300 $300 09/09/2017 $0.00
Average Grade: 3.50 g/t 3.50 g/t 09/09/2017 n/a
Recovery Rate: (CG)  90.00% (CG)  90.00% 09/09/2017 0.00%
F
U
T
U
R
E
Proven & Probable: 20.00M 20.00M 09/09/2017 0.00M
Annual Production: 250,000oz. 250,000oz. 09/09/2017 0oz.
Cash Cost: $900 $900 09/09/2017 $0
Extra Operating Cost: $350 $350 09/09/2017 $0
SILVER 09/09/2017
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: n/a n/a 09/09/2017 0.00M
Measured & Indicated: n/a n/a 09/09/2017 0.00M
Inferred: n/a n/a 09/09/2017 0.00M
Reserves & Resources: n/a n/a never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: n/a n/a 09/09/2017 0.00M
Measured & Indicated: n/a n/a 09/09/2017 0.00M
Inferred: n/a n/a 09/09/2017 0.00M
Reserves & Resources: n/a n/a never 0.00M
C
U
R
R
E
N
T
Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 09/09/2017 $0.00
Extra Operating Cost: n/a n/a 09/09/2017 $0.00
Average Grade: n/a n/a 09/09/2017 n/a
Recovery Rate: n/a n/a 09/09/2017 0.00%
F
U
T
U
R
E
Proven & Probable: n/a n/a 09/09/2017 0.00M
Annual Production: n/a n/a 09/09/2017 n/a
Cash Cost: n/a n/a 09/09/2017 n/a
Extra Operating Cost: n/a n/a 09/09/2017 n/a

Property

Last Analysis Data  (09/09/2017)
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Production South Africa Barberton 100% (guess) 7,000 Underground show
3 million oz deposit.

115,000 oz per year.
Production South Africa Evander 100% (guess) n/a Underground show
28 million oz deposit.

100,00 oz per year.
Development South Africa, South Africa Elikhulu 100% (guess) n/a Open Pit show
Annual Production of 50,000 oz beginning in 2018.
Total Land Package Size (ha): 7,000  
Current Data
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Production South Africa Barberton 100% (guess) 7,000 Underground show
3 million oz deposit.

115,000 oz per year.
Production South Africa Evander 100% (guess) n/a Underground show
28 million oz deposit.

100,00 oz per year.
Development South Africa, South Africa Elikhulu 100% (guess) n/a Open Pit show
Annual Production of 50,000 oz beginning in 2018.
Total Land Package Size (ha): 7,000  

Profitability (by resource)

Proven &
Probable
09/09/2017
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 10.00M 10.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 49.25M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 9.00M 9.00M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 44.33M
Maximum Profit (Gold): $1,234.17M $456.12M n/a $-778.05M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $1,234.17M $456.12M n/a $-778.05M
Max Profit / Current MCap: 2.696 2.076 n/a -0.620
Max Profit Per Share (Gold): $0.55 $0.20 n/a $-0.35
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $0.55 $0.20 n/a $-0.35
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD Mkt. Cap / Gold Eq.: $50.87 $24.41 n/a $-26.45
FD Mkt. Cap / Silver Eq.: $0.68 $0.31 n/a $-0.37
FD Mkt. Cap / Per Metal
as % Spot Price:
3.78% 2.00% n/a -1.78%
Measured &
Indicated
09/09/2017
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 20.00M 20.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 98.51M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 16.20M 16.20M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 79.79M
Maximum Profit (Gold): $2,221.51M $821.02M n/a $-1,400.49M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $2,221.51M $821.02M n/a $-1,400.49M
Max Profit / Current MCap: 4.852 3.737 n/a -1.116
Max Profit Per Share (Gold): $0.99 $0.37 n/a $-0.63
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $0.99 $0.37 n/a $-0.63
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD Mkt. Cap / Gold Eq.: $28.26 $13.56 n/a $-14.70
FD Mkt. Cap / Silver Eq.: $0.38 $0.17 n/a $-0.21
FD Mkt. Cap / Per Metal
as % Spot Price:
2.10% 1.11% n/a -0.99%

Reserves &
Resources
09/09/2017
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 30.00M 30.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 147.76M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 20.70M 20.70M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 101.96M
Maximum Profit (Gold): $2,838.59M $1,049.08M n/a $-1,789.52M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $2,838.59M $1,049.08M n/a $-1,789.52M
Max Profit / Current MCap: 6.200 4.774 n/a -1.426
Max Profit Per Share (Gold): $1.27 $0.47 n/a $-0.80
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $1.27 $0.47 n/a $-0.80
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD Mkt. Cap / Gold Eq.: $22.12 $10.61 n/a $-11.50
FD Mkt. Cap / Silver Eq.: $0.29 $0.13 n/a $-0.16
FD Mkt. Cap / Per Metal
as % Spot Price:
1.64% 0.87% n/a -0.77%

Future Valuation (Cash Flow & Totals)

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