Disposals hone investment case
Pan African (PAF) has made a number of announcements since Edison’s last note in May, including an operational update, the conclusion of the Uitkomst disposal and the disposal of Phoenix Platinum to Sylvania for a total cash consideration of ZAR89m (£5.2m, US$6.8m or US$10.80/oz of Phoenix resource), which is actually accretive relative to PAF’s current group-wide resource multiple of US$8.40/oz. Most recently, on 18 August, it released its customary JSE listing requirement paragraph 3.4b announcement indicating annual EPS in the range 1.07-1.22p for FY17.
- Unlock all research summaries
- Follow top, independent analysts
- Receive personalised alerts and emails
- Access Briefings, Analytics, and Events
Upgrade anytime to our paid plans for full-length research, real-time analyst discussions, and more.
Join a thriving community of 45,000+ investors, including the top global asset managers managing over $13trn in assets.
- Disposals hone investment case24 Aug 2017