Goldplat Share Discussion Threads

[lowtrawler] 27/11/2024 17:19

I'll be pleased if they simply avoid share suspension.

[kimboy2] 27/11/2024 15:54

Do we think we will avoid two AGM's this year?

[ih_692232] 22/11/2024 18:15

Low
I agree entirely -I rather hope for 20p plus when TSF firms to point of being a reality
Let’s keep our hopes up
Alm

[lowtrawler] 22/11/2024 14:30

alm2, there have been good discussions on this forum previously around the Ghana beneficiation benefits. It may have been driven by a government programme but it will undoubtedly pay for itself very quickly.

A bit like yourself, I believe there are still aspects of the TSF which sit outside GDP control. As an example, the pipeline still needs landowner permissions and some might not be happy about toxic waste being pumped over their land. However, we now have a date when GDP expect all permissions to be in place - June 2025. Let us see how it progresses.

There are only 2 things needed for the share price to move into double figures:

1. Commencing shareholder rewards
2. Unlocking the remaining obstacles to processing the TSF and publishing a plan on the benefits to be delivered.

It is possible both will be achieved in the first half of 2025. I will be disappointed if both are not achieved by the end of 2025.

[ih_692232] 22/11/2024 10:00

Low not a very detailed account of things from Werner but it was only a short interview -gave some explanation of the changes required as to how the gold must be refined down in Ghana due to government requirements - at a cost of 900k to the company but with some side benefits however to goldplat -another big cost on the road to one day possibly just possibly rewarding shareholders
TSF account did not come over to me that it was just a question of tying up a few loose ends
Alm

[lowtrawler] 20/11/2024 11:49

Interview with Werner on Q1 results:

[kimboy2] 18/11/2024 22:04

Gold Recovery Ghana is owned by Goldplat.

I don't think the figures give a clear indication of GDP's exports as much seems to be chanelled though the Precious Minerals Marketing

[ertugrul] 18/11/2024 21:24

I don't think there is a direct link Sea

[sea7] 18/11/2024 12:29

happened to see this today, whilst reading the below doc.



The above report posted July of this year on Page 70, shows that gold recovery ghana's export of gold out of ghana dropped 81.1% from 3,140oz in 2022, to 594oz in 2023 - probably consistent with the opening of the local refinery and local benificiation changes.

[ertugrul] 18/11/2024 09:32

It seems there is some support and I am planning to add more to bring my average down

[arlington chetwynd talbott] 18/11/2024 08:18

Will the support at 6p hold? It will be no thanks to this BoD if it does.

[ih_692232] 15/11/2024 18:16

Low
Another set of quarter results and 1p off the share price - no brainer that share was going down when you consider the results and further expenditures
I want a board that grows a share price -does things to encourage it
Great achievement by the board
Notice how they avoided reference to coal - notice how they avoided reference to the borrowing cost of generators or any information about how much they were used this past quarter - and thus what value can be placed on that 750k investment over last quarter
Just two examples of how the board fail to account for past investments but how readily they tell us another 900 k is going out into Ghana
They spend money like it goes out of fashion
Alm

[arlington chetwynd talbott] 15/11/2024 13:52

Lowtrawler - you are not wrong about that range. To some extent I am just sharing my frustrations.

[kimboy2] 14/11/2024 18:15

The only way I think the share price will have an influence is in DRD's view of MO's alternatives.

[michaelfenton] 14/11/2024 12:07

Kimboy what you say is true however the share price may have a huge influence in negotiations. The company by any calculation is hugely undervalued at present. And that is the fault of the board and MO?

[kimboy2] 14/11/2024 11:45

Martin Ooi is obviously th key and whatever he decides will go. The licensing will be the point when what DRD are willing to pay and what MO is willing to accept are most likly to align.

If I were to guess the outcome I would say that they will sell SA and keep Ghana as the new GDP.

[gb904150] 14/11/2024 11:23

michaelfenton14 Nov '24 - 04:41 - 11555 of 11556

I am just thinking of a takeover at a low price with favours for the Board and maybe MO? OK true that is a conspiracy theory. A good example would be SHANTA GOLD sold for far less than it was worth by a compliant board.

The thing that goes against look-across from SHG to GDP is the difference in who owns the company. The mix of BOD/instis/HNW is important.

SHG from the annual report 2020 - as of June 2021 (I don't have the more recent ones):

Odey 11.4%
Directors 6.5%
Sustainable Capital 6.0%
River & Mercantile 5.2%
Canaccord 4.8%
BlackRock 3.9%
Fidelity 3.8%

We know that the disgraced Odey fund had to be sold down. Perhaps some of the other ii's sold down too. Therein lay an opportunity for Ketan Patel and the BOD to make their move.

Favours for the board only works if the value of those favours outweighs what their capital gains would be from a sale.

In the case of SHG, low BOD holding and so a few nice perks for the BOD would have helped clinch it.

In the case of GDP, the ownership is different. MO calls the shots. A cheap deal with slight premium to the 90 day VWAP is not going to cut it. MO will know the value and he'll want to see it realised.

If/when the TSF gets approved that will be the key. I doubt they'll get as far as it getting built, but the permitting derisks it and adds significant value.

That plus the last of the £3m load from Nedbank paid off in the last quarter means GDP is in quite a good place now.

Yes, it's like wading through treacle....but the Mcap is underpinned by 2 solidly profitable operations....with a bluesky upside.

[kimboy2] 14/11/2024 09:14

The fact is that over the years cash has been absorbed by various things - buy back of minorities, generators, inventory, new dam, etc. That is before we get to Kili.

Is this likely to be a permanent situation with cash being absorbed? I don't think so, but then there is £900k in Ghana to come as well as Brazil. At least these should expand profitability rathr than just sustaining.

I don't want them going into debt to pay a short term dividend.

On Martin Ooi if he had had an offer that meets his valuation he would have sold. In order for him to get full value there needs to be progress on the TSF.

What is the timeline for the TSF? They have said June 25 for approval. I have a bit more confidence in this as everything that could come out of the woodwork must surely have done so.

It takes 3 months once the application is, so to the end of March to get everyone signed up.

The pipe will take 9-12 months, according to Werner. Only a relativley short stub is required. I would expct DRD to pay this as part of the deal.

[russman] 14/11/2024 06:32

in the trading update.
there are a lot of words.
not much action.
little achieved in the quarter.

[michaelfenton] 14/11/2024 04:41

I am just thinking of a takeover at a low price with favours for the Board and maybe MO? OK true that is a conspiracy theory. A good example would be SHANTA GOLD sold for far less than it was worth by a compliant board.

[lowtrawler] 13/11/2024 23:02

shill10, this remains one of the best boards for sharing information as you describe. It also happens to be a good board for sharing frustrations.

[shill10] 13/11/2024 22:53

I've discovered plenty of useful, well thought out and researched analysis on small caps on bulletin boards, Low - this board used to be dominated by such posts.....

[lowtrawler] 13/11/2024 22:38

shill10, nothing said on a bulletin board will ever achieve anything and so why does anyone post? The reality is, the frustrations resonate and people realise they are not alone in feeling the way they do. In fact, I believe the frustrations have spilled over into the questions posed to Werner at the quarterly calls and he appears to be waking up to the strength of feeling.

As you say, there is no real prospect of a shareholder rebellion with Martin owning nearly 30%. However, warning shots can be fired. As an example, shareholders owning 5% of shares are permitted to raise resolutions for a vote. Alm2 owns just shy of 3% and I own over 0.8% if we found other shareholders owning 1.3% between them we would have a permanent ability to do so. It would undoubtedly then be voted down by Martin. Personally, I am not currently interested in pursuing this course as I can see the progress being made and believe they are genuinely trying to deliver shareholder value. However, if tangible progress is not made over the next 12 months I may feel different.