Goldplat Share Discussion Threads

[russman] 17/12/2016 14:37

I am sitting comfortably.Is everybody in?We shall begin.

[kimboy2] 17/12/2016 13:34

I thought the Kili management were going at some stage. The MOU about the acquisition was unflattering.

The proposed acquisition is at an early stage and, if completed, the management it would bring, amongst other things, will have the skills and experience to assume responsibility for managing and enlarging the Kilimapesa Gold mine.

[sea7] 17/12/2016 12:51

The 10% free carry in kenya could be reviewed, which could have a favourable outcome for kilimapesa gold....

Commenting on the 10% government carry, Rainbow Field, director, Kenya at Bowmans, noted: “While certain other countries do have a free carried interest in mining, Kenya’s relatively new industry may mean that giving away 10% for free is slightly premature. We also have a concern that this provision is unconstitutional: the constitution states that a person or company cannot be arbitrarily deprived of their assets without market value payment.”




Bowmans is a member of the kenya chamber of mines and provides legal support when needed.

Its clients include Base Titanium, Acacia Mining and Kilimapesa Gold.

[sea7] 17/12/2016 12:43

I see that Jeff Longstaff, the financial manager at kilimapesa gold has left.
According to his linkedin page, he left two months ago and is back in johannesburg.

[danielmiller1] 16/12/2016 15:56

I wonder why these bums are incapable of holding a sensible debate?

They always do the same, when there are two individuals who share contra views to the herd here then the two automatically become one of the same.

Such a pathetic disposition only serves to highlight the weakness of people like Kimboy who appears incapable of maturity.

[kimboy2] 16/12/2016 15:49

Yes and a very happy christmas to both you and Russman.

[danielmiller1] 16/12/2016 14:48

The element of the all essential trust factor has been shattered. Therefore even if GDP can possibly win what started out to be a minor squirmish the overall war to preserve their credibility may well be lost much to the company and their shareholders' detriment.

[sea7] 16/12/2016 12:43

Its easy to complain about missed timelines from the comfort of your chair.

Sometimes plans are executed as expected, sometimes they are not. Work is in progress, priorities changes based on circumstance. At this time, I see no real reason to be concerned, when I do not have a finite time for my investment here.

[russman] 16/12/2016 12:33

No goodwill left here.Missed timelines.Poor execution.Smokes & mirrors.

[kimboy2] 16/12/2016 09:28

The artisanal tailings are at 7-10g/t which is a value of arounf $300/t. You wouldn't have thought transport costs would be an insurmountable problem.

I haven't seen the state of the roads though.

[sea7] 15/12/2016 21:45

From the accounts..

The original treatment plant will continue to be used to process high grade artisanal tailings for as long as the existing tailings facility has capacity or until an economically viable means of transporting tailings to the new facility is found.

...............

I can only assume that the tailings they speak of are close to the old plant which is 10km away from the kili mine. The new plant is sited near the kili mine, so I guess they do not want to pay out to ship the tailings 10km, will process the high grade stuff and then tidy up the old site. Then accept new shipments brought to them at the new site.

[sea7] 15/12/2016 21:31

I see goldplat has confirmed its attendance at the mining indaba in cape town next february.

[kimboy2] 15/12/2016 21:17

The artisanal material will be a much higher grade. Whether they make more money out of it than their own production will depend on what they pay for it.

I would have thought that the artisanals are getting ripped off at the moment so plenty of scope. However I was a bit surprised when they said that they weren't going to use the artisanal that the present plant use because the transport costs make it uneconomic.

[sea7] 15/12/2016 20:53

Goldplat will have finished processing all the quoted woodchips by now, as they can do 60t per day. As they had 60000t in april 2013, they will have exhausted that supply in a 1000 days, or just under three years. We can be sure that this will have been replenished along the way as well, so I expect that we still have a good couple of years worth on site.

When the stock hit the low of 1.63p the mcap was £2.7m. The company had a net current asset value of 1.79p. In other words if the company had stopped trading that day and settled all liabilities there would have been 1.79p in cash for shareholders, plus all the property, plant and equipment. The problems were surmountable with minimal downside and worth buying at the time.

The risk we had was that the management could not deliver solutions to the problems. They did and we saw an increase in the share price of over 220% in a year.

Gerard and co. might have mining ambitions, however, they are not blind to the ability of the recovery operations, all the work done is bearing fruit and there is more to come.

It looks as though they will be processing a lot of artisanal material in kenya as well as mining, which should take the pressure off the mine, especially as gold has dropped somewhat.

[sea7] 15/12/2016 20:33

I agree, even when all the issues were at hand, I carried on buying at the lows, remembering these sorts of things..

from share price angel note march 2013

As long as mining techniques continue in their current form, Goldplat
Recovery will be able to source by-product materials for its processing
operation

and

Stockpiles provide a cushion to operations amounting to 7 years of installed
capacity. Around 786 kg of gold (around 28,000 oz) is contained in materials on site giving around several years of potential inventory. This includes wood chips
of 60,000t equivalent to 500kg of gold at 8g/t.

and

The company have built up over six to seven different circuits in South Africa
which would require a replacement capex of $15m.

and

The secret to its success is the ability to have a number of processing
solutions which can operate independently. The company brings together
materials from a variety of mines and processes these materials on a scale
not available to any individual mine

...........

Since that note a lot has been done and a lot more has been invested in the business. The elution column for one.

In the most recent accounts they reference an average gold price of $1167 for the year. Today the price is $1129. The average figure for H1 of 2017 has been higher so far, so we are still on track to exceed last years figures.

[kimboy2] 15/12/2016 19:46

Yes they are quite interesting. One of the things that sustained my confidence in GDP during the dark days of less than 2p was that the recovery operations were worth a load more than the mkt cap, if the worst came to the worst.

Still think that is the situation.

[sea7] 15/12/2016 19:42

No problem - thought I would go through some more of them.

[kimboy2] 15/12/2016 18:58

Thanks for the numbers sea

[kimboy2] 15/12/2016 14:35

The one thing the current deal does give them is an option in the future if anything worthwhile crops up. At least someone else is spending the cash.

[sea7] 15/12/2016 14:30

Yep, I am not expecting anything from anumso anytime soon.

The statement in the tech report.

"there is currently no mine plan" sums it up.

[kimboy2] 15/12/2016 14:27

I have written Anumso off. They will be lucky to see any worthwhile return.

[sea7] 15/12/2016 14:18

The south african subsidiary, from the point of view of sale value is worth way more than the mcap on its own, without taking into consideration the stockpiles and earnings.

[sea7] 15/12/2016 14:10

Cannot remember if I posted this before:-

technical report dated 26th august 2016 on anumso...



What they had to say about the shortcomings of IRES, south africa's modelling of anumso on behalf of goldplat..

The authors of this report consider these shortcomings sufficient to invalidate the resource estimate as useable by AGC or to be considered as a current resource according to CIM definitions (CIM, 2014).

This estimate is considered historic by the authors and by AGC and is reported here for the purposes of completeness.

It is considered significant and inaccurate that the IRES block model was constructed without any geological input and that an average SG value of 2.75 was used for the entire model. The IRES Datamine block model has not been provided to AGC as at the date of this report. AGC does not plan to use this mineral resource estimate, but rather undertake a more in-depth geologic evaluation and assessment of the Property, plan new drilling, and then undertake a new mineral resource estimate based on new information.

...............

They do not sound too impressed!!

[kimboy2] 15/12/2016 14:04

I wonder what the subsidiaries are worth if they were sold.