Canada is making it harder for foreign firms to acquire domestic mining companies by imposing measures that could protect top takeover targets from large global rivals https://t.co/201fWaO5id
#PAN#PANAFRICAN#GOLD#UPDATE
Can't commend these guys enough, keep delivering, no excuses. Production guidance for year revised to upper range with 2025 expected to see an additional 29,000 to 35,000oz compared to this year.
Pan African Resources Production Guidance and MTR Project Update
Production Guidance:
🟡Revised production guidance for the year ending 30 June 2024 is narrowed to 186,000oz - 190,000oz (previously 180,000oz - 190,000oz).
🟡Production for FY 2025 is expected to be 215,000oz - 225,000oz.
MTR Project Update:
🟡On track for commissioning in December 2024 and within budget.
🟡Updated financial model shows increased profitability due to higher gold prices and exchange rate.
🟡Pre-feasibility study for the Soweto Cluster indicates potential to expand MTR operations and increase production.
🟡Additional capital of $113 million needed to process Soweto Cluster material.
🟡Processing Soweto Cluster could increase MTR's Pre-tax NPV by $96 million.
🟡Pan African will pursue permits and make a final decision on processing Soweto Cluster in due course.
Financials:
🟡Pan African expects strong financial performance for the year due to production results and high gold prices.
🟡Final results for the year ending 30 June 2024 will be announced on September 11, 2024.
While Ramaphosa blames apartheid for the poor state of the economy and unemployment, large investors are voting with their feet. Shell today, BHP last week.
Meanwhile little Namibia is getting it right, with foreign investment flooding in. Same for Guyana. And Kenya. And India.
The usual monthly table of financial returns for some major assets/asset classes.
While April proved to be the toughest month so far in 2024 for some of them, the year-to-date returns remain solid overall -- especially given the extent to which markets have repriced their expectations of Fed cuts in response to repeatedly disappointing inflation data.
#economy #markets #investing #investors #econtwitter
#SA40#JSE Top40 weightings in percentage as taken from the SATRIX40 ETF as at closing prices of 22/01/2024. These 20 stocks make up 75% of the total weighting of the TOP40 index.
@Nedbank you really need your Devs to look at your money app, if you go out of a chat with an agent and then go back in, the agent is unable to read messages. Such an easy fix....
Now that the JSE has officially closed its doors for 2022, looking back at the start, if you had told me that the All Share would almost be unchanged for the year, I would never have believed you. But we’ll take it. Top 10 movers to the upside and the laggers;
“Despite elevated inflation, longer-term inflation expectations appear to remain well-anchored,” says Fed Chair Jerome Powell.
He discusses the latest announcement to downshift its rapid pace of interest-rate hikes and raise rates by 50 basis points https://t.co/fr2F52stfS
The MPC decided to increase the repurchase rate by 75 basis points to 7%, with effect from the 25th of November 2022. Three members of the Committee preferred the announced increase. Two members preferred a 50 basis point increase. #SARBMPCNOV22
“Thank you for the support, the messages, the letters and all the love in general. I will miss that, but it’s been an absolute joy throughout my career”
Seb signs off with some heartfelt words
#AbuDhabiGP#F1
https://t.co/wupnuPxCsR
FTX bankruptcy shows the company had 134 affiliates spread across the globe and may have liabilities of up to $50 billion.
Enron had liabilities of $23 billion.
FTX may be worse than Enron.