Goldplat Share Discussion Threads

[danielmiller1] 06/3/2017 10:59

You are dead right Stupid one posting history does not lie.......you do.

The old board had everyone fooled and you know it.

Now instead of being honest you post any rubbish and blame everyone.

BUT THE share price DOES NOT LIE.

Now instead of puting accountancy blame flatly where it lays as in the FD who cant account Visausage you erek to blame those not able to answer.

BUT THEY HAVE NO NEED TO,FEAR.....AS DAN IS HERE.

DiscoDave46 Mar '17 - 08:20 - 3736 of 3737 0 0
"The Company said KRA had queried the taxes paid to the Government by its operation in the country for the 2015/16 financial year".


SEA 76 Mar '17 - 08:29 - 3737 of 3737 0 0
I suspect the taxes owed before producing were simply the import of machinery into the country from South Africa. It wouldn't surprise me if Goldplat simply shipped in the equipment under Demetri as inter company transfer at no real cost, however, the Kenyans see it as an import of equipment into the country and subject to VAT.

I am inclined to think this is where the issue was.

[sea7] 06/3/2017 08:29

I suspect the taxes owed before producing were simply the import of machinery into the country from South Africa. It wouldn't surprise me if Goldplat simply shipped in the equipment under Demetri as inter company transfer at no real cost, however, the Kenyans see it as an import of equipment into the country and subject to VAT.

I am inclined to think this is where the issue was.

[discodave4] 06/3/2017 08:20

"The Company said KRA had queried the taxes paid to the Government by its operation in the country for the 2015/16 financial year".

[kimboy2] 06/3/2017 08:06

That was the impression given in the interims. It would be interesting to know what taxes they owed before they were producing.

[sea7] 06/3/2017 07:49

I received an email from Gerard regarding that article and he said that whilst the intro is sensational at least, the article isn't bad. He went on to say that they have, as indicated in the interims settled on a nominal amount in Kenya.

[sea7] 06/3/2017 07:41

Miller also said how great the stock was and it was going to be trading over $2 a share. He stated that back in 2011. That's over a quid a share. He was buying at 16.5p, the all time high and ramping this all over the place. He got burnt, the share price collapsed to 1.75p and miller hasn't stopped whining about his losses yet. He continues to make out that he didn't and knew all along it was going down, however, he is only trying forget his losses by making up these lies and convincing himself.

Posting history doesn't lie though.

[sea7] 06/3/2017 07:38

and you DD!!

[discodave4] 05/3/2017 20:01

Think it's also last FY:https://www.standardmedia.co.ke/m/article/2001228264/kra-wants-migori-gold-miner-to-pay-more-taxesAnyway, doesn't matter, sold up last week.Still don't see this hitting 10p anytime soon, not until the RR issue has been sorted.All the best S7.DD

[sea7] 05/3/2017 19:12

yep settlement was for the period stated, 2010-2013

[kimboy2] 05/3/2017 18:57

The settlement relates to 2010 - 13. ISTR this is before they even started producing.

First gold pour was 2012

[discodave4] 05/3/2017 18:48

Fx rates!, didn't allow for that, only used current £/$....can't be bothered to check now!.

[discodave4] 05/3/2017 18:45

Evening S7Perhaps it's to do with using an average price for gold in the AR16 of $1,167/oz, whereby other media reports on the tax issue mention the average was $1,247/oz.Also noticed that the Rev for mining was £1.56m, Kili alone sold 1,999 oz so based on the AR reportable average of POG for the accounting period that's £1.9m. I'm probably missing something or misunderstanding the numbers - no doubt the "experts" will correct it.DD

[wigwammer] 05/3/2017 17:33

"Be warned though they have much to hide."You posted similar nonsense at 2p.It tripled.

[kimboy2] 05/3/2017 16:52

I note it says the potential to "mine and process" not to explore. The procurement of tailings is already happening.

[danielmiller1] 05/3/2017 16:42

What are you talking about STUPID ONE? Dan has been warning you about closets with skellies in then for quite some time and my dilly little one if you were half as good with your research as you claim to be you would know that there is more bad news, if not disastrous in the pipe line.

Go little ond, go do yourself a favour and start checking out everything not just the stuff that you want to post up!

Be warned though they have much to hide.

[kimboy2] 05/3/2017 13:42

Yes the £58k, or whatever it was, struck me as quite a bit given the meagre production from Kili. Anyway they are certainly the blue eyed boys at the moment.

The real question is whther they can extract a benefit from this status. The AR said;

An exploratory trip to the adjacent Migori county and meetings with the Governor identified good opportunities for the procurement of tailings as well as the potential to mine and process gold in the county. These opportunities will be followed up on during FY 2017.

[sea7] 05/3/2017 12:49

I am not referring to the tax issue per se, it is the reference to the under declaring of gold that I have not seen anywhere else.

[obbig60] 05/3/2017 12:43

That seems to be old news from Feb. 5th and was covered in the last RNS ( 2nd para of Chairmans Statement).

[sea7] 05/3/2017 12:27

As I haven't seen this anywhere else, I doubt its integrity...

UK based Goldplat is in trouble with Kenyan tax authorities for under declaring the value of gold it has been producing in the country, adding to the woes its Kilimapesa Gold Mine in Migori has been facing.

[sea7] 05/3/2017 12:22

someone else's take on kenya..



extracts..

Kenya is still a very small player in gold production with Goldplat, the only licensed commercial gold mining firm still struggling to hit 200 kg a year in production at its Kilimapesa mine

and

Unlike Goldplat which has experienced challenges funding its Kenyan operations, Acacia Mining, formerly known as Africa Barrick, is a magnet to financiers.

[danielmiller1] 04/3/2017 11:07

Call Dan whatever you wish and ignore the facts also if you wish to do so, but you will never cover over that this ..........


IS NOT A TRUSTED COMPANY AND INVESTORS NEED TO BE AWRE OF THAT.

[kimboy2] 03/3/2017 23:45

You can get the RR accounts through the accounts of their shareholders. I think I put them up here about a month ago.

[sea7] 03/3/2017 15:17

On rand refinery, they stopped publishing annual accounts after 2012. The delay in filing their 2013 accounts, which were not published, was due to the accounting irregularities in the holdings of gold. That they lost.

There is no suggestion that the subsequent lack of publication of 2013 onwards accounts is related to the same lost gold matter.

There is less transparency at rand now.

[russman] 03/3/2017 11:58

It appears that we disagree on GDPs current business model.The bread n butter used to be gold recovery.