Annual report released. This stock is undervalued

PAF released their annual report today.

Positive

• Yearly earnings up 63%, now PER is at about 4. This is incredible !!!
  
• Insiders (CEO and financial executive) bought a lot of shares recently
  
• Dividend will increase 28.5% (vote in November)
  
• Stock buy-back announced (to be precised later)
  
• Awaiting a lot of infrastructure developments and prospection results (incredibly huge gold concentration vein investigated since 1 year)
  
• Strong graphical position, just above unbroken support (only momentarily broken by COVID crash)
  
• Gold leverage
  
• Penny stock that is at the moment not bought by big fish due to small market cap.
  

Negative

• Yields forecast to increase ? But PAF has an incredibly low PER and reduced his debt a lot.
  
• Operates in South Africa (country has inherent risk)
  
• All in sustainable price for gold increased by 9% at $1260/oz
  

My target is graphical only (so medium term target), the true value of PAF (long term) is above 50 GBX.