Pan African Resources PLC

Shore Capital has told clients to buy back into Pan African Resources, keeping a buy rating and 185p price target that implies 94% upside from the current 95p. The broker notes the shares have fallen 48% since 2 March, twice the 23% drop in gold and well ahead of the 35% decline in the GDX gold-miner ETF. Analyst Edward Maravanyika attributes gold's retreat to inflation fears from war-driven oil prices and hawkish remarks by new Fed chair Kevin Warsh, though he believes Warsh has since softened his tone. Central bank buying, including China's addition of 480,000 troy ounces in June, may put a floor under gold near $4,000 an ounce. On dividends, Shore Capital expects Pan African's net cash position to support an average 7% annual yield through the 2031 financial year, even as the company funds growth plans and works through a slower ramp-up at Tennant Mines in Australia and delays at the Nobles processing facility.

Arrow Exploration Corp has brought its Icaco-2 well in Colombia on production at around 830 barrels per day gross, taking total corporate output to approximately 5,000 barrels of oil equivalent per day. CEO Marshall Abbott says the Icaco discovery may be material to Arrow, with horizontal and vertical development wells already planned. Frontier IP Group PLC has raised £4 million through a placing and subscription at 12p per share, with six directors participating in the subscription element, and a retail offer through BookBuild aims to raise a further £400,000 before closing at 5pm on 18 June. RC365 Holding PLC has signed a point-of-sale agreement with StarCruises International to deploy its RC3.0 payments platform across cruise operations in Asia, including cryptocurrency acceptance and multi-language support. Coiled Therapeutics has appointed two senior oncologists to a newly formed medical advisory board guiding its lead cancer drug AO-252 through phase I trials, with Professor Guru Sonpavde and Dr Alexander Spira shaping clinical strategy as the programme moves toward expansion cohorts in the second half of 2026. Genflow Biosciences Ltd has been invited to present results from its SLAB dog longevity study at the Animal Longevity Summit in Toronto in October, with the study evaluating its SIRT6 gene therapy in aged beagles concluding this month. Pan African Resources PLC will join the FTSE 250 from 23 June, following the court sanction of its all-share acquisition of Emmerson Resources, and also joins the FTSE 350, FTSE All-Share and related indices.