There's been a lot of action with Pan African Resources lately which I have held for some time and managed to buy in at at around 6.5p. This was one of my earlier investments when I was chasing the "next ten bagger". I think this was one of only a handful that I've had any success with over the years. It was paying a dividend too until recently but it was suspended in order to acquire Evander, another goldie.
The CEO, Jan Nelson, departed Pan African Resourecs recently under discreet circumstances in that nobody really knew why he left other than for personal reasons. Concerns were that he had been poached however he, up until now, hasn't appeared within another company.
There was also a rights issue to fund the Evander acquisition which you would expect have an impact on the share price, fortunately in this case it didn't. What did have an impact on the share price was the stuffing that gold got when Cyprus announced it was to flog it's gold to pay off it's debt. I think this is a solid play though and generally (this year excepted) has a great dividend policy. I think the future for Pan African Resources is looking good, pending the gold price where we should hopefully see the reinstatement of the dividend.
Following the hit Pan African is seeing a recovery today, currently up 6.25% on constant gold prices.
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