Ones to Watch
PAF Pan African Resources
PAF looks set for a break north on a strong trading statement with a significant uptick in earnings per share and revenue. PAF maintained a bullish Price trend outperforming many of its peers in the precious metal mining sector want to watch on the open
Pan African advises shareholders that its headline earnings per share (HEPS) and earnings per share (EPS) for the current reporting period are expected to be between US 2.14 cents per share and US 2.30 cents per share, compared to US 1.52 cents per share for the corresponding reporting period, an increase of between 41% and 51%.
The increases in HEPS and EPS for the current reporting period, relative to the corresponding reporting period, are largely as a result of a 23.9% increase in revenue to US$193.9 million (2022: US$156.5 million), attributable to the following:
- gold sold volumes increased by 8.9% to 98,458oz (2022: 90,439oz); and
- the average US$ gold price received during the current reporting period increased by 13.7% to US$1,961/oz (2022: US$1,725/oz).
Premarket
Metals Firm as DXY Dips : Uranium Storms Back
The dollar slipped below the 200 moving average yesterday and indeed dropped below the 21 IMA this gave gold a boost seeing the metal close north of $2050. Brent continues to show weakness below $80 meanwhile uranium reasserted its up thrust as one of the largest uranium providers guided lower on production further squeezing supply - this saw positive reaction in all of the Iranian miners in the UK particularly YCA GCL.
copper dipped to the 50 MA and bounced While platinum is clinging to its eighteemer and may well complete its reversal formation Silver remains channel bounds with resistance around the $23 level
Today sees NFP at 1330 which may have an influence on both the dollar and the medals
Dollar drop 200 MA and 21EMA back to check the 50MA
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Gold back in the upchannel
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