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Guest Post Sam Bottell: Pan African Resources (PAF) – Buy at 18p

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- Tom Winnifrith

I spent two years working along Sam Bottell as he worked with minesite.com and oilbarrel.com and he is a good, honest and clever chap. Now that he is starting his career freelance writing as well as an organiser of the UKInvestor Show I have no hesitation in helping him along via this blog as a guest contributor. As such I bring to your attention a share tip from TradingResearch Point on Pan African where he is even more bullish than I am. I hope he is correct.

It is not often that you see a mining mid cap or junior announce a rights issue – the norm these days is a placing at a deep discount, but as part of its recent fund raise, LSE and JSE listed Pan African Resources (PAF) did just that. On 14th January the company announced that the offer (at 14p) has been 175% subscribed for. Given that the shares had moved ahead to 18p after the rights issue was announced I suppose that is not surprising but that Pan African has such widespread support ( and has seen its shares prosper) amid the gold stock bloodbath of 2012 is no mean feat. This was a penny stock going nowhere just a few years ago, so is there market excitement behind it now? I would argue not

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