Goldplat Share Discussion Threads

[lowtrawler] 05/3/2021 08:05

Views on interims? I was surprised at the cash outflows and that we loaned kili another 150k.

[michaelfenton] 24/2/2021 12:53

yes frazboy fingers crossed.

[frazboy] 24/2/2021 12:24

Agreed Michael. I apologise, I edited my post because I think I misunderstood your post at the first time of reading.

Like you, I’m confused, but I fully expect the Kili sale to go through (why would the Kenyan government block it - is it in their interest. No) but I’m much less sure about the restructuring of the SA company; a lack of due diligence prior to the initial announcement worries me. Fingers crossed tho.

[michaelfenton] 24/2/2021 12:15

BEE is a SA scheme to increase Black/Coloured ownership of SA businesses.

[michaelfenton] 24/2/2021 11:43

There seems to be some confusion re the BEE holding. Werner seems have created this situation and now we are all worried? Signing the Kili contracts is NOT a big deal but getting the Kenyan Gov consent is? So we now have two areas of concern 1: is Kili sale and 2: the Compmay restructuring? Banana skins come to mind yet again with GDP? Can anyone put my confused mind at rest?

[newforestlad] 24/2/2021 09:13

Looks like the Mm's are after shares this morning

[michaelfenton] 23/2/2021 19:43

I notice a 100,000 BUY at 8p timed 16.35

[michaelfenton] 23/2/2021 16:39

Ok that sounds fine Kimboy2 can you sort it?

[kimboy2] 23/2/2021 16:14

It may be that they want to increase their stake, or perhaps just a pay off for being compliant.

No idea what their cash position is but I would have thought with the TSF sitting there valued at zero it would be an ideal time for a bid.

A price;

£4.5m (op profit) - £1.17m (minority) - £0.93m = £2.4m

A p/e of 10 = £24m

TSF value to GDP £10m+?

That works out at 20p a GDP share cash.

[michaelfenton] 23/2/2021 15:56

What are you suggesting Kimboy? That BEE shareholders takeover the whole SA business for cash?

[camerongd53] 23/2/2021 15:53

Kimboy
I was surprised and shocked that the pre-emptive BEE issue was not addressed prior to the 1st RNS on the re-organisation in that it had not been fully addressed.
If the BEE party does acquire the SA assets, then the costs of keeping GDP in existance may suggest that it should liquidate etc.

Valuing the SA assets. I think a valuation of £50m could be defended and depending on the terms etc this may be outside the ability of the BEE to purchase this. The BEE issue may stymie the reorganisation as it currently is proposed.

[kimboy2] 23/2/2021 15:00

It is Papillion's decision. I presume it depends on how much cash they raise.

Personally I would rather have the cash.

I was also thinking about the question of pre-emptive rights for the BEE. Are they thinking of buying SA out of Goldplat?

An operating profit of £4.5m this year plus a stack of 80kozs of TSF. What is 74% of that worth?

[camerongd53] 23/2/2021 14:07

I note from today's RNS that GDP has the choice of £1.5m cash or £1.75m worth of shares when seelling Killi.
or cash
Do you think GDP take the shares in Mayflower/Papillon ?

The shares could be distributed to GDP shareholders who could either keep them or hold on in the hope that the new management could make aa go of running Killi.
If they choose cash we can only get cash back either through a buy back or as a dividend.

Anybody got any thoughts?
I would possibly at the moment prefer the Mayflower/ Papillon share option

I suspect it is not our decision but it will be greatly influenced by what Martin OOi wants

[lowtrawler] 23/2/2021 08:18

MF, think you're right. It's only confirming progress and pushing the date out by a month.

[michaelfenton] 23/2/2021 08:13

The sale is still not completed so I doubt it will have any positive effect? Sorry and hope I am wrong.

[lowtrawler] 23/2/2021 08:12

I hope they send us 1,5000,000 on completion.

[newforestlad] 23/2/2021 07:52

Hopefully see a raise of this rns

[avsome1968] 23/2/2021 07:45

Goldplat is pleased to report that formal legal documentation relating to the acquisition of total issued share capital of Kilimapesa by Mayflower Gold Investments Limited ("Mayflower Gold") a wholly owned subsidiary of Mayflower Capital Investments Pty Limited (the "Transaction") has been signed by all parties. The formal documentation includes a Share Purchase Agreement ("SPA") entered into by Gold Mineral Resources Limited ("GMR") (a wholly owned subsidiary of Goldplat) with Mayflower Gold. The SPA sets out the terms of the Transaction under which Mayflower Gold will acquire 100% of the entire issued share capital of Kilimapesa which holds the licences and assets that form the producing Kilimapesa Gold Mine and processing operations located in Narok County, Kenya. The completion date for the Transaction has been changed from 28 February 2021 to 31 March 2021.

A deed of novation and royalty agreement has also been entered into by GMR and Mayflower Gold. The deed of novation relates to the transfer of all rights and obligation of GMR in the loan agreement between GMR and Kilimapesa to Mayflower Gold as described in the Company's announcement of 31 July 2020. Under the royalty agreement, GMR has the right to receive a 1% gross net smelter return royalty subject to a maximum of US$1,500,000 on future gold produced and sold by Kilimapesa.

Completion of the Transaction remains subject to a number of conditions being satisfied including, amongst other things:

-- Receipt of various regulatory approvals in Kenya;
-- Approval of Kilimapesa's prospecting license;
-- The completion by Mayflower Gold of the Reverse takeover of Papillon Holdings plc including a fundraising of at least USD 4 million; and

-- initial consideration to be satisfied by the issue of shares to that value of GBP1,750,000 in Papillon Holdings Plc or GBP1,5000,000 in cash payment to GMR;

Werner Klingenberg, CEO of Goldplat commented: "I am pleased to report that all legal documentation has been signed and that progress are being made on the number of conditions to be satisfied."

[michaelfenton] 19/2/2021 14:05

You can BUY at 7.5p at presnt although still showing as UNKNOWN. Last chance i suepect?

[michaelfenton] 19/2/2021 14:02

I too have been forced to add a few more at this crazy price? All SA companies have to have a BEE element?

[kimboy2] 19/2/2021 12:31

I presume the suggestion in the RNS is that the BEE has the option to buy the shareholding in South Africa from Gold Minerals before it is transferred to GDP.

Presumably there are ways around it, if the problem actually arose that they wanted to buy them. Perhaps Gold Minerals could just be relocated from Guernsey.

Anyway they appear confident it will go through along with other unspecified changes.

[lowtrawler] 19/2/2021 11:38

mf, whenever I buy-in is usually a sign of short-term price weakness, although I think the price fell prior to my purchase. Maybe I'll have provided some support for a change?

[michaelfenton] 19/2/2021 11:31

It appears Wener had forgotten about the BEE group in his plans to restructure? Is this the reason we were marked down sharply this am or does Lowtrawler have huge influence?

[lowtrawler] 19/2/2021 11:23

I've bought back-in today following 5 months of absence, have picked up 131,402 at 7.65 which isn't showing yet. I thought I was going to miss out on some positive action when I left in September but my repurchase price is virtually the same as when I exited.

Although the gold price is weakening, the fact they have resolved Kili, are restructuring for tax savings and are able to concentrate on their core business, means it is still hugely under-valued. My purchase is now intended as a long-term holding and so I don't intend to buy or sell over the next 2 years.