Share Name Share Symbol Market Type Share ISIN Share Description
Goldplat LSE:GDP London Ordinary Share GB00B0HCWM45 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 6.125p 6.00p 6.25p 6.125p 6.125p 6.125p 150,630 07:37:37
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 31.7 -1.0 0.2 30.6 10.26

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2017-09-25 13:48:386.158,130500.00O
2017-09-25 08:45:116.015,000300.38O
2017-09-25 08:36:096.0020,0001,200.00O
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2017-09-25 08:34:256.0145,0002,703.38O
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Goldplat (GDP) Top Chat Posts

DateSubject
25/9/2017
09:20
Goldplat Daily Update: Goldplat is listed in the Mining sector of the London Stock Exchange with ticker GDP. The last closing price for Goldplat was 6.13p.
Goldplat has a 4 week average price of 5.50p and a 12 week average price of 5.25p.
The 1 year high share price is 8.13p while the 1 year low share price is currently 5.13p.
There are currently 167,441,000 shares in issue and the average daily traded volume is 459,733 shares. The market capitalisation of Goldplat is £10,255,761.25.
25/9/2017
23:17
sea7: The point is that this company has, historically always returned to a p/e range of 5 to 7. Even when Goldplats share price was 16.5p, the p/e based on the 2012 figures was 6.22, the profit for that year was £4,467m, excl minorities. When we look at 2011, the share price in feb and november was 11p, the p/e based on this share price was 6.79. Profits were £2.728m, excl minorities. going back as far as 2010, we had in feb a share price of 10.5p, with less shares in issue, circa 111m, the profit, excl minorities was £1.534m, this gave us a p/e of 7.65. What this tells us, is that despite profitability fluctuating over the years and numbers of shares in issue changing, with a variety of different share prices, before the company started registering negative p/e's, we regularly saw the p/e in a range throughout the years of 5-7. If the stock went either side of this range, it would soon enough trade back within it. Whilst we know that there is no specific reason why the 5-7 range is where goldplat trades, it just seems to. If this continues, then assuming no further increases in the number of shares in issue and an additional £1m profits, expected going forward, at least, then we should be thinking of around £2.3m profits, excl minorities for end next june. If the p/e range holds true, then a p/e of 7.28 would equate to a 10p share price. If no acquisitions are made, no progress on the TSF, no progress on the rand dispute, then we should, based on current performance and expectations, be on a share price of 10p, by next June. Whilst that does not seem like much, it still indicates a 65% increase in the stock, in about 9 to 12 months.
22/9/2017
23:06
camerongd53: It is good to see proper issues being discussed on this website. There have been reasons stated today why the share price is not higher. Some of these are historic and many were before the time of Gerard K-G. I suspect that GKG could probably have been the saviour of GDP. Under his leadership many legacy issues have been resolved. There are a few remaining such as more exploration expenditure which may have to be written off. Kenya is not the ideal place to do business and they could follow Tanzania in abusing foreign owned assets. The diluted eps figure (which now appears to be correctly calculated) for continuing operations is 0.73 pence per share. Next years accounts will see the removal of losses from Kili being replaced by profits, and increased profit from Ghana and possibly SA. It is possible that ongoing eps could be 2 pence per share. This would mean GDP would be on a PE ratio of approx 3 on todays price of 6p. For a company that is starting to demonstrate that it is 'wellish' run, I think it is too cheap and in my opinion is a medium term hold. The share price used to be 16 pence and GDP is probably better and more robustly run now. Yes there are a lot of issues and challenges, Africa, gold price (maybe), Rand Refinery (which is BEE contributes 27% of any potential loss) etc. All companies have them but they are more conspicuous in GDP because of its size. Because of RR's size the disputed balance is probably not mentioned in their accounts as it is not material. When the share price was 1.5p it was a matter of faith in the survival of GDP. Holding them at 6p is I think a matter of faith in the potential of the company being achieved.
22/9/2017
20:39
sea7: DD, in case you didn't see my posts.. hi shareholder, tks for your comments. It is true that I have carefully studied this stock and have a long history with it. I first bought in april 2007, built a position over a period of 5 years and then exited as it got to 14p. I stayed out of goldplat for over a year and re-entered at 7.73p. One person on another board felt I was moving to early and it turns out he was right, as the price continued its fall from 16.5p to 1.75p over a period of about 2.5 years. You say that the market doesn't like the move to gold mining, however, that has been part of goldplats strategy since the listing document was published back in 2006. The problem was that the market trusted Demetri manolis and all was going well, until the kenya authorities moved the goal posts on ownership in October 2012. They gazetted the 35% local ownership rules. Goldplat was targeting 10k ozs, with investment and organic growth. As soon as this came out, the project ground to a halt and the company stopped investing in kili, despite not saying it publicly. The nyieme project was too small to be commercial and the anumso project needed significant funding to get it to a state of production. All the money raised at the 10p share offering in 2010 had been spent on anumso and nyieme. There was nothing left. Demetri walked out a month after the Kenyans moved the goal posts on ownership, in an apparent board room bust up. Brian was shown in a presentation to state that he felt goldplat did not need an ore body (mine) however, that was just his opinion. The tensions were beginning to surface there. With Demetri gone, kili in limbo, the mining ventures dead in the water, the market lost trust in goldplat and the stock began to fall. The slump in the gold prices in 2013 exposed the flaw in the business model at the recovery plants, which was the price paid for feedstock was on the prevailing price of gold at the time. This meant a sudden fall in gold of a sizeable amount and no recovery meant the company processing at a loss for a considerable amount of time. We then moved swiftly in to Russell lamming arriving, putting kili on care and maintenance, making a lot of noise and then leaving, put the market trust even further down the scale. Ian taking over as CEO, was because they couldn't find someone else to do the job, things were in such a mess no one else wanted it. Ian muddled through and sorted some things out. We moved on to all the environmental breaches in Ghana, the fine, the loss of the tolling, the loss of the CIL plant and the loss of 90% of the revenue as a result. The market confidence fell further and so did the share price. Then we move to the issues with rand refinery, which in my view had something to do with Ian, as I could see that some relationship had broken down. Rand refinery got on well with Demetri. Who knows what was said. The company was taken to the brink on all fronts and managed to survive, simply because the recovery businesses have a robust nature when run correctly. Gerard was meant to be non exec chair, however, took over as CEO, I expect that we won't know the reason, however, I think Ian was winding rand refinery up a bit and they did not want to deal with him. When Gerard took over, we saw some thawing of relations with rand, however, they still held goldplat over a barrel, as goldplat sent all concentrate to them. Where are we now. Well Gerard and the team have done well, however, there are issues still to deal with. Rand for one, which is not going away and relations are as frosty as ever, although there is some ad hoc business conducted. Kili, whilst profitable, is still a challenge, is a small mine and all money made is going to pay back the debt owed to Goldplat. There is still the issue of when and how they will have to transfer 10% of the kilimapesa gold pty to the state owned entity. Is this to be set in stone, are they going to mover the goal posts again. we do not know at this stage. South Africa, the focus has moved to the CIL section as the most profitable, I am sure the woodchips used to yield the most, so I would say they are seeing a reduction in available supply, from the slowdown in mining in south Africa. There is unrest in the area with the mining charter asking for more ownership and more representation. They are struggling to get this pit and it is dragging on. They have a base case of 22k oz a year, with a need for one large contract per year to hit the upper target. There is no guarantee of this, so there is a risk that production is at 22k oz for a financial year. Ghana, they are doing well here and this is the one bright area at this time, however, it is taking time to build back up again, there is history of not abiding by environmental regs, so they will be watched, despite working with the govt. So, why isn't the share price higher, well, goldplats history is a p/e of between 5 and 7. It is over seven at this time, so I do not expect any further increases without news to back it up. There is talk of acquisitions in the mining space, how will it be funded, dilutive equity issues, despite gerards assurances or loads of debt/warrants/some equity. The trust that the company had was lost completely. It is returning, however, there are outstanding issues and whilst it does not affect the balance sheet, the business or the staff at the company, it does affect the share price. A lot of players, including me, do not usually buy litigation and that is where goldplat is right now with rand refinery. Whilst goldplat have a very strong case, apparently, it could still be costly to drag through the courts with no guarantees at the end. Gold is slipping back again, markets are at highs and any sign of them rolling over and goldplat will fall as well, initially, however, gold stocks usually run back up first. Goldplat has never been a traders stock, it is illiquid and has no depth to the market either. Gerard could if he wanted to focus purely on the recovery aspect of the business, however, he is going down the path that Demetri went, so the market is seeing history repeat itself, once bitten, twice shy. I will buy goldplat again, however, at this price, after the results and what I know about the company, I feel it has further to fall before becoming a buy again. If you are buying for assets only, then it is a buy now, as it trades way below its value, however, from a trading perspective it isn't a buy in my view, not yet any way.
22/9/2017
20:21
sea7: hi shareholder, tks for your comments. It is true that I have carefully studied this stock and have a long history with it. I first bought in april 2007, built a position over a period of 5 years and then exited as it got to 14p. I stayed out of goldplat for over a year and re-entered at 7.73p. One person on another board felt I was moving to early and it turns out he was right, as the price continued its fall from 16.5p to 1.75p over a period of about 2.5 years. You say that the market doesn't like the move to gold mining, however, that has been part of goldplats strategy since the listing document was published back in 2006. The problem was that the market trusted Demetri manolis and all was going well, until the kenya authorities moved the goal posts on ownership in October 2012. They gazetted the 35% local ownership rules. Goldplat was targeting 10k ozs, with investment and organic growth. As soon as this came out, the project ground to a halt and the company stopped investing in kili, despite not saying it publicly. The nyieme project was too small to be commercial and the anumso project needed significant funding to get it to a state of production. All the money raised at the 10p share offering in 2010 had been spent on anumso and nyieme. There was nothing left. Demetri walked out a month after the Kenyans moved the goal posts on ownership, in an apparent board room bust up. Brian was shown in a presentation to state that he felt goldplat did not need an ore body (mine) however, that was just his opinion. The tensions were beginning to surface there. With Demetri gone, kili in limbo, the mining ventures dead in the water, the market lost trust in goldplat and the stock began to fall. The slump in the gold prices in 2013 exposed the flaw in the business model at the recovery plants, which was the price paid for feedstock was on the prevailing price of gold at the time. This meant a sudden fall in gold of a sizeable amount and no recovery meant the company processing at a loss for a considerable amount of time. We then moved swiftly in to Russell lamming arriving, putting kili on care and maintenance, making a lot of noise and then leaving, put the market trust even further down the scale. Ian taking over as CEO, was because they couldn't find someone else to do the job, things were in such a mess no one else wanted it. Ian muddled through and sorted some things out. We moved on to all the environmental breaches in Ghana, the fine, the loss of the tolling, the loss of the CIL plant and the loss of 90% of the revenue as a result. The market confidence fell further and so did the share price. Then we move to the issues with rand refinery, which in my view had something to do with Ian, as I could see that some relationship had broken down. Rand refinery got on well with Demetri. Who knows what was said. The company was taken to the brink on all fronts and managed to survive, simply because the recovery businesses have a robust nature when run correctly. Gerard was meant to be non exec chair, however, took over as CEO, I expect that we won't know the reason, however, I think Ian was winding rand refinery up a bit and they did not want to deal with him. When Gerard took over, we saw some thawing of relations with rand, however, they still held goldplat over a barrel, as goldplat sent all concentrate to them. Where are we now. Well Gerard and the team have done well, however, there are issues still to deal with. Rand for one, which is not going away and relations are as frosty as ever, although there is some ad hoc business conducted. Kili, whilst profitable, is still a challenge, is a small mine and all money made is going to pay back the debt owed to Goldplat. There is still the issue of when and how they will have to transfer 10% of the kilimapesa gold pty to the state owned entity. Is this to be set in stone, are they going to mover the goal posts again. we do not know at this stage. South Africa, the focus has moved to the CIL section as the most profitable, I am sure the woodchips used to yield the most, so I would say they are seeing a reduction in available supply, from the slowdown in mining in south Africa. There is unrest in the area with the mining charter asking for more ownership and more representation. They are struggling to get this pit and it is dragging on. They have a base case of 22k oz a year, with a need for one large contract per year to hit the upper target. There is no guarantee of this, so there is a risk that production is at 22k oz for a financial year. Ghana, they are doing well here and this is the one bright area at this time, however, it is taking time to build back up again, there is history of not abiding by environmental regs, so they will be watched, despite working with the govt. So, why isn't the share price higher, well, goldplats history is a p/e of between 5 and 7. It is over seven at this time, so I do not expect any further increases without news to back it up. There is talk of acquisitions in the mining space, how will it be funded, dilutive equity issues, despite gerards assurances or loads of debt/warrants/some equity. The trust that the company had was lost completely. It is returning, however, there are outstanding issues and whilst it does not affect the balance sheet, the business or the staff at the company, it does affect the share price. A lot of players, including me, do not usually buy litigation and that is where goldplat is right now with rand refinery. Whilst goldplat have a very strong case, apparently, it could still be costly to drag through the courts with no guarantees at the end. Gold is slipping back again, markets are at highs and any sign of them rolling over and goldplat will fall as well, initially, however, gold stocks usually run back up first. Goldplat has never been a traders stock, it is illiquid and has no depth to the market either. Gerard could if he wanted to focus purely on the recovery aspect of the business, however, he is going down the path that Demetri went, so the market is seeing history repeat itself, once bitten, twice shy. I will buy goldplat again, however, at this price, after the results and what I know about the company, I feel it has further to fall before becoming a buy again. If you are buying for assets only, then it is a buy now, as it trades way below its value, however, from a trading perspective it isn't a buy in my view, not yet any way.
22/9/2017
18:03
shareholder7: It's interesting reading all the posts on BB's about GDP and everyone is asking why is the share price so depressed even after all this great news and results.No one wants to face the facts but just keeps posting positive rhetoric plus quoting what Gerard is saying but the share price does not move Well here are some reasons1. The market does not like the move into Gold mining from its core business of gold recovery. 2. The whole situation in Kenya could change if the mister of mines changes . Currently as Gerard says they have a very very good relationship with him ( interesting IMV why this is?) if he gets kicked out what then, as GDP is the only gold miner in Kenya to date 3. RR, do look on their web site they are the largest gold refinery in the world and they have 75 % of all African gold refinery and they are just next door to GDP. Now GDP they have to send materials to Germanyhttp://www.randrefinery.com/brochures/Rand_Refinery_Corporate_Brochure.pdfAnd GDP are taking them on in the courts but I have posted enough on this 4. Moving the focus of the recovery business to Ghana to make more money (good move imv ) as the SA operation is only 70% owned by GDP so the focus now is getting material from South America to Ghana However minority shareholders in SA ( the main assets for GDP) now have a board that does not have their interests at heart as when Ghana is up and running material will be switched there 5. Material is drying up in SA as the major share holders of RR give less materials to GDP may due to the RR issue. Plus RR do compete with GDP as per their web site 6. Write off of nearly £1m of assets with possible more to come 7. Lack of new investor. Fidelity or other major investors just need to give up and the share price will tank 8. Risk of doing business in Africa reduces the EPS in general Sea 7 is the only poster that has a balanced view I keep posting as I was one of the shareholders that bought at 16 but also at 2 p and got luckily to sell out at 6 some time ago now, but I am still very interested in this share as I have a long history with it There are many people that are facing losses on this share as few bought at the bottom It would be nice to see more balanced posts as the only other poster I agree with is Sea and DD who I am sure, like me, keeps an eye on this as a past shareholder Oh and I forgot the mad man robson/miller who was also sucked in
29/8/2017
11:10
camerongd53: Market seems irrational at the moment The price of GDP followed gold down over the last few months but as the price of gold is now over $1300 GDP's share price is nearly as low as it has been for several months. There is the now usual talk of the market generally being overvalued (major article in latest Investors Chronicle) and this may be affecting sentiment. If such a set back takes place I would hope that the increase in GDP's profitability would support the share price from a major fall The update phonein last week was more than acceptable but could have been better but it is clear that GDP although facing challenges is in a better position strategically than it has been for years. The results due next month could be a catalyst for a re-rating for the shares. I raised the issue of the incorrect calculation of EPS - it would have been nice to have had an acknowledgement from the company!!
18/7/2017
10:57
sea7: 21/7/15 bid 1.50p 18/4/17 bid 8.00p 18/7/17 bid 6.25p We can see that the 433% increase in the share price over the 21 months between the low and the recent high, is a reflection of the hard work done by the company to "right the ship" As they have moved out of the recovery phase and into a growth phase, the pull back in the share price is reflecting the weaker gold price environment, not any fundamental issues at the business. The momentum behind the share price has stalled and is not likely to pick up again until we see some numbers come through on all the work done, that was not captured at the interim stage. Kb alluded to a share price of 20p, well in my view with a mcap of £32m and the fact that the company has, historically always traded around an average p/e ratio of 5 or 6, we will need to see net profits after tax and less minorities of £5m pa, to get anywhere near that price. I think that the y/e accounts will have us at the £2m-£2.5m level of NPAT, this should justify the current share price. They will need to demonstrate that net profitability from this month onwards will continue on an upward trajectory, towards £4-£5m for the coming year, to see the share price get anywhere near 20p, which would reflect a p/e of 6 on expected forward earnings. Goldplat's headwinds and legacy issues, will put a dampner on things slightly, so for the time being, the expected level of earnings gives us the right share price currently, from a stock market trading level perspective. The market will move up accordingly if it thinks that an enhanced level of profitability is achievable after the y/e accounts are published. At the current share price, the market, on a p/e of 5, is expecting y/e accounts to show net profitability of around £2m. This, I think is about right, so I am not expecting any increases in the share price in the short term. In the mid term, if they can get towards £1.5m of NPAT, less minorities at the interims, then the share price could be around 11p by march of next year. Any banana skins and then expect sub 10p share price for longer. The market will be cautious of going to far above 10p as Gerard indicated a thought on raising cash at that level, so there will be resistance at 10p.
24/2/2017
07:54
sea7: Valid points kb. What I was also trying to extrapolate, was the view the market is likely to take in terms of share price position going forward, against known figures. As we know after 2013 the business suffered many problems and the share price reflected that and is returning to normal levels. As Goldplats business has recovered and is in better shape than before, I went to 2012 to see whether the increase in profitability back then and the share price at the time would likely be repeated over the coming months, as profitability continues its upward trend. 2012 to 2013 was a downtrend for goldplat. The 2016 interims show that we have at least recovered to the 2013 level in terms of underlying business performance. As Gold is not as high, nor is the company paying a dividend and allowing for the expected increase in returns due to kili hitting profitability and the held back ounces showing up, then I think the market will have this around the current share price for now and then as kili stage 2 completes, an increase to the 8's might be achievable. I think we will need a good result on rand dispute, confirmation of some further south American or other countries business into Ghana and kili performing as planned for us to see goldplat move upto 10p this year. We also have those unexpected positives that may come out and boost business and the share price, whereas over the last few years it has been unexpected negatives that have kept on coming up, depressing business and the share price. At least, after just over three and a half years, the company is back on an even keel again and in a much stronger position.
22/2/2017
16:41
shareholder7: DD Rand have loads of product for processing and this deal was meant to bring the two companies together If they would have pulled this off, more processing would have happened and I would not have been a seller Now RR and GDP don't have a great relationship and egos are at play RR will want to partner with someone else or do it themselves (wait for the reply from Elmboy asking for proof) Do GDP have completion, yes they do So this dispute has effected GDP share price and could push RR to find alternative providers If GDP have to write off £650k that will pull back the gains but as they say they are sure of a favourable outcome but win the deal, lose the relationship We both see this as does Gerard Lets see what happens with the share price in the coming months But as I say good luck to the people that bought in at the bottom but try selling 4m shares in this market Luckily there is one person that is building a stake to take them at the moment Thanks for your support DD
25/8/2016
11:05
sea7: FS, August 2007 share price was 8.5p 2008 quoted at 9.5p sept 2009 share price was 10.93p Sept 2010 share price was 9.6p Nov 2011 share price was 11.94p aug 2012 share price was 14p jun 2013 share price was 8p jun 2014 share price was 3.75p jul 2015 share price was 1.63p. In 2007 shares in issue 109m mcap 9.26m in 2008 shares in issue 112m mcap 10.6m in 2009 shares in issue 111m mcap 12m in 2010 shares in issue 168m mcap 16.1m in 2011 shares in issue 168m mcap 20m in 2012 shares in issue 168m mcap 23m (price hit all time high of 16.5p that year) in 2013 shares in issue 168m mcap 13.4m in 2014 shares in issue 168m mcap 6.3m in 2015 shares in issue 168m mcap 2.73m today we have 167m shares in issue and a 6p share price giving a 10m mcap. The mcap is the same today, as it was in 2008, when PBT was around the same level as it is today. The company has a lot more to come and this PBT figure should increase going forward and if history is anything to go by, so will the share price. The shares in issue are rounded and the prices are correct on a particular day in the months shown - I know they are as they are taken from my historical contract notes.
Goldplat share price data is direct from the London Stock Exchange
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