Goldplat Share Discussion Threads

[shareholder7] 06/6/2023 11:32

Everyone is in the same boat. So simple, just raise prices as where will they go ! First company that get its own generates wins. This is an opportunity

[kimboy2] 06/6/2023 09:54

In the AR it said;
The approval of the pipeline by authorities is taking longer than originally expected, but we believe this will be received, at the latest, by June 2023.

Well it is June now and no news. That means either they don't know what is happening or news is imminent. Take your pick.

It looks to me that someone somewhere is waiting for a brown envelope. South Africa is a chaotic place to do business at the moment.

Once they have the piece of paper they can then announce the terms with DRD. DRD have had their own issues with load shedding;

htTps://www.news24.com/fin24/companies/drdgold-lambasts-certain-anc-elements-for-obstructing-solutions-to-load-shedding-20230215

[lowtrawler] 04/6/2023 17:05

Alm2, all reasons I exited. The share buybacks would suit Martin as he gained more ownership for no outlay. He seems in no hurry for a dividend. I expect further share buybacks before dividends. The TSF is shrouded in mystery. The company just seems to drift from crisis to crisis with no sense of urgency or responsibility.

[michaelfenton] 04/6/2023 11:04

Unfortunately the company is doing nothing for general shareholders. They seem to like to waste money on stupid new ventures.

[ih_692232] 04/6/2023 09:36

The price of gold - of course makes the share price performance and the company’s seemingly lack of ability to convince the market of its value all the more depressing
Given that gold is running around all time highs what is this company doing to extract value for shareholders
The stock dam is a bit like kili
On the face of the supposed value of precious metals within kili it looked well like a gold mine !!
The stock dam is of no value in reality until they start to extract and the cost of extraction is known
The company tells us -and thus the market -nothing in detail of its plans
It’s no wonder the share price is drifting down and down when with the price of gold it should be flying up
The market thinks the company will never reward shareholders with dividends- with good reason because the company has not paid any for well over ten years
The market thinks this is now a badly run private company

[kimboy2] 03/6/2023 22:08

Without doubt the electricity problems are a bummer. However it isn't all bad news for GDP.

The rand price of gold is 35% on the year. Given a CPI of around 7% this means that their stocks, in particular the stock dam, are worth several million more.

[michaelfenton] 02/6/2023 17:54

Yep the management sucks.

[ih_692232] 02/6/2023 16:38

Trouble with the pipeline is that the electricity supply issue will no doubt have a huge bearing on the feasibility and costs and will no doubt delay the whole affair
Afraid it is going to take a couple of years at least to get back to where the share price was pre Christmas
Goldplat has returned to the same old same old though a combination of huge management balls up /lack of imagination as to how to attract buyers through dividend however modest and the troubles of business in Africa / electricity supply / permissions / licences
Very disappointed not to have got out of this share
Can’t see buyers being attracted to this offering
It has continued to be operated as a private business run simply for benefit of the board and the employees
Alm

[kimboy2] 31/5/2023 15:21

When they said that the license was approved in Ghana but was delayed awaiting a signature that very clearly pointed the finger at what was going on. I suspect that they used this daylight as leverage.

On the generators they clearly don't expect the situation to improve in the next 2 years. They are expensive, and will presumably make production more expensive, but it is better than the alternative.

I thought it interesting what they didn't mention, and that is the pipeline. Isn't tomorrow the long stop date?

If nothing was happening then I would have hidden it at the bottom of a broadly positive announcement. But they didn't.

[lowtrawler] 31/5/2023 14:39

baht, hope you are correct and the problems are moving behind them. Today's announcement was a good step on the road to resolving some of the problems. Surprised at the share price drop.

[baht] 31/5/2023 13:39

Lowtrawler thanks for the reply. Good points but I suspect that as the question of the auditors retention was already scheduled for the AGM so possibly too late to alter or perhaps not enough time to select a replacement. Additionally we dont know what the problem. It might have been a case that to change the Auditors at that time could have caused longer not shorter delays in the actual figures being published.

As for Ghana when you are in the middle of trying to renew a license, to bring such a topic into the public domain I suspect could do more harm than good. This is a very tricky problem, my point was that I don't think the License issue is the GDP's boards fault or not solely.

Anyway new progress and falling share price to be considered, but does anyone know what the proceedure is to have a formal question raised at the next AGM so that the topic cant simply be ignored.

Todays RNS suggests that recent known problems if not at an end are at the beginning of the end to mis-quote Churchill.

To state "We estimate that it will take 12 – 14 weeks to receive and install these generators" suggests that GDP have been working on this for quite some time.

In a country that is suffering such power problems & for so long I suspect that it takes a long time to evaluate, source, and implement the purchase and installation of such large and costly bits of kit. Remember how difficult it was to buy toilet paper at the beginning of the Covid Lockdown etc.!!

[arlington chetwynd talbott] 31/5/2023 08:12

This decision about generators should arguably have been made a while ago. At least we can now see our way forward, but we will have to be patient.

[kimboy2] 31/5/2023 07:53

It is the cost of the battery storage, plus possibly the lack of space, that would kill solar.

[dinky00] 31/5/2023 07:33

Share price should be up today on this announcement. Can't say I'm overly impressed with the decision to go with diesel generators. For the outlay, solar panels surely would have been a better option, I would like to know if this option was considered

[michaelfenton] 30/5/2023 15:53

In my opinion the arrival of Martin Oii and his building a substantial stake will have meant many think that Goldplat was finally getting all it's ducks in a row. For me there is only one reason that MO might be happy with the current state of affairs and that is that he is happy to see the share price tank because that would lower his buyout costs.

GDP has a long history of banana skins and not rewarding shareholders but with better management it is becoming a steal for a buyout or takeover. My smaller holding now is a freebee and i do not think we are in danger of going out of business touchwood.

[lowtrawler] 30/5/2023 15:36

baht, if the year-end audit problems were due to the auditors, why are they still retained?

The Ghana License problems effectively shutter the business. If GDP are not to blame, why are they not making more political noise?

You may be correct but the lack of response from GDP suggests lethargy or otherwise.

[baht] 30/5/2023 15:24

alm2 how do we know the audit and the possibly more important Ghana Licence issues are "self inflicted"?

There were several other LSE listed businesses whose final audited accts were delayed where the same auditors as GDP's were "in charge".

I think it just as likely that the Ghana problems might also be due to a few Government fortune tellers wanting their palms crossed with silver or should that be Gold.

[ih_692232] 26/5/2023 11:32

Agree low
Interesting point really is martin ok and what is he trying to achieve….
He has not driven for dividends so is getting no day by day return on capital
He is probably at this share price looking at a 50 per cent gain on his investment … but he can’t sell any volume even if he wanted to as share price would tank
So what’s his ambition here
Sell his block to a take over buyer ? Or buy the company himself
The jam in this company is the tailings facility
Is he waiting until that show is on the road - few years away yet - and then going to demand dividends - or when there is convincing realisation of gold from the tailings either buy the company himself or sell out to a buyer

He has to have some plan or ambition

Or is he happy to be stuck in this for the next ten years with no cash return on the present plod along basis
Risky strategy with a SA based concern perhaps ?
The electricity problem is just a good example of how wheels can come off - never mind the self inflicted ones such as the audit and licence issues
In present circs the logical thing would be to start to trim my holdings when the opportunity presents

[arlington chetwynd talbott] 24/5/2023 23:19

hTTps://www.bbc.co.uk/news/world-africa-65671718

[lowtrawler] 19/5/2023 22:22

alm2, my feelings precisely but it is rescuable. Werner is not a credible CEO but he is essential to GDP operations. Bring in expert commercial / strategic support and let him carry on doing the day-to-day activity. Drive delivery, don't just let things happen in their own time. Instil the discipline of rewarding capital providers. These are basic building blocks and simple to action.

[ih_692232] 19/5/2023 21:51

Yep things are going great at goldplat
No dividends despite sale of Kili
Share price receding down over 40 per cent in 6 months
Audit shambles Ghana licence shambles
But just think we have a future in coal to look forward to
Board sure is delivering shareholder value
Or I am I just being ungrateful and lacking vision here
Alm

[dinky00] 19/5/2023 13:52

125k sold at 8p, 120k bought at 8p, shares down 6%.Sums GDP.L up nicely over the last 10 years

[shill10] 17/5/2023 11:32

yep, unlike some on this board :)

[kimboy2] 16/5/2023 21:32

Martin Ooi in effect controls the company.

I don't suppose he is happy with the bureaucratic delays or the load shedding, but he has to deal in the real world.

[michaelfenton] 16/5/2023 15:17

5 out of 10 for what is a nice little business but spoiled by poor management decisions. I cannot believe that Martin Oii is content.