Goldplat Share Discussion Threads

[lowtrawler] 20/7/2021 09:22

shill10, the market seem to like it so far. Per my earlier note, either the market was going to consider that we overpaid or they would need to rerate GDP onto an equivalent value. Judging by the market reaction, they don't think we overpaid and so logic would dictate we are heading in the direction you laid out.

With the promise of dividends to come, 15p would seem a reasonable guess.

[shill10] 20/7/2021 09:08

this values GDP stake in GRL at c £18mill or roughly 12p a share. On top of that there is Ghana making c£1 mill a year, Kili (£3 mill inc royalty) and then the TFS - even this sleepy market can't ignore the fact that GDP got funding for this - expect at least 12p, perhaps 15p in coming days.

[kimboy2] 20/7/2021 08:50

If they had the cash and wanted to pay they would have done. The fact they didn't would suggest one of those wasn't the reality.

[lowtrawler] 20/7/2021 08:41

Why would it require litigation? It was part of the sale agreement.

[kimboy2] 20/7/2021 08:26

Because to enforce it would have required litigation. Better just to accept the administrative delays and get the cash a bit late.

It looks as tough we are getting $450k in cash and the rest in Papillon shares.

[lowtrawler] 20/7/2021 07:42

The fact we are taking out loans for the SA deal makes it more difficult to understand why we waived the cash settlement requirement on Kily yesterday.

[lowtrawler] 20/7/2021 07:30

So, we are valuing the SA business at £20.2m and paying the minority shareholders accordingly. At the same time, we are valued at £11m. Either today's news will be treated as an overpayment or there will be a rerating of GDP.

[russman] 19/7/2021 20:29

Another extension.

[camerongd53] 19/7/2021 11:13

THe KIlli sale news deferral is not good news for 2 reasons
1. It is a distraction for management
2. It affects sentiment, when I looked a the price on LSE this smorning the share price was marked down .4pence (I thought irrationally) but has since recovered. I thought it would be a buying opportunity. Killi is only a small part of GDP value.

If we end up having to take shares in mayflower /papillion, I would advocate that the GDP boardy distribute by dividend or otherwise to GDP shareholders.
The problem with Killi was that GDP did not have the management and/or experience to make a go of it.
If mayflower/papillion have the expertise to run killi, let them get on with it. I have written it off in my mind and take anything I get for it as a bonus.
When Mayflower/Papillion get going, I will follow them and if they make a go of it will consider a smalal investment in them.
Completely open minded about the away forward unlike some posters

[kimboy2] 19/7/2021 11:05

GKG is on both sides of this.

Gerard and Hansie also don't have long to exercise their options, assuming they still have them.

[michaelfenton] 19/7/2021 10:49

Yes Lowtrawler show us the cash please. GKG involved in this?

[lowtrawler] 19/7/2021 09:58

MF, payment comes from proceeds of the listing ands so the risk is entirely on whether Papillon can successfully complete their listing process. I'm not sure why GDP have elected to provide Papillon with an extension? Presumably, the existing documents had assumed Papillon may take longer than 16 July and hence the clause for cash consideration. I assume the extension granted, ensures Papillon can continue to only settle part in cash / part in shares. Unless GDP are keen to get the shares, don't see why they would do this?

[michaelfenton] 19/7/2021 09:06

Yes Kimboy Extension given - usual mess with Kili and Goldplat.Will we ever get any good news? And your comment "Not the same thing as paid" has a worrying ring to it?

[kimboy2] 17/7/2021 11:19

In the event that Papillon is not re-admitted to trading on the LSE by 16 July 2021, the full initial consideration of USD1,500,000 will become payable in cash and will attract interest of 4% with effect from 1 January 2021.

I don't believe it was readmitted so $1.5m + interest becomes payable.

Not the same thing as paid.

Presumably a statement on Monday.

[michaelfenton] 17/7/2021 08:14

Someone correct me if I am wrong but I thought 16th July was the deadline for Kili transaction?

[lowtrawler] 15/7/2021 06:00

Thanks Kimboy. I went back and read things properly. We have a secured debenture until they list and once they list, they repay the debenture in cash with the 4% interest from January 21. Happy days.

[kimboy2] 14/7/2021 21:33

Mayflower Gold have provided GMR with a debenture over their assets, with Mayflower acting as guarantor and have committed to a further charge to be provided by Kilimapesa over its assets for the benefit of GMR.

In the worst case scenario we get Kili back, though I think we will get the cash.

On the operations front we should be getting an update shortly which will hopefully tell us what is happening with the TSF. My guess is bureaucratic delays.

On the gold price front there is global inflation, political riots and rampant covid in South Africa. Can't wait for the fourth horseman to turn up.

[lowtrawler] 14/7/2021 20:37

Looks like we become entitled to the $1.5m on Friday. However, it only has a 4% coupon from January and I don't see anything which will compel then to hand across the cash. I don't even see anything which says we are a secured creditor for the value. Hopefully that's an oversight in disclosure and we have security over the mine.

[kimboy2] 07/7/2021 15:50

Papillion said that they were 'close to agreement' with regards relisting back at the end of April.

In May GDP had a net £2.2m of cash. I would expect them to drop the Kili money on the cash pile and then start to have more regular dividends in the normal course.

We don't know how much the processing plant for the TSF will cost, if that is the route they are going.

There are also Gerard's and Hansi's share options which are due to be exercised imminently. Perhaps they will pay them in cash.

[michaelfenton] 07/7/2021 15:45

dangersimpson - I hope you are not jumping the gun?

[dangersimpson2] 07/7/2021 14:36

Papillon have 9 days to list or they need to pay the $1.5m to goldplat in cash plus interest.

Looking more likely they get the cash now IMO. The question then becomes if they need to reinvest it into the recovery plants, for example, to get the TSF processed or whether they can return it as a special dividend. Would be around 0.65p per share.

[michaelfenton] 07/7/2021 12:48

Yes Covid is rampant in SA so we must expect some slow movement.

[kimboy2] 07/7/2021 12:11

Covid seems to have been rife in SA so I suspect that this will have delayed the approval of the TSF.

It is coming though.

[camerongd53] 07/7/2021 09:27

Possible drivers for a higher Sp by 31 July
1. operating update for quarter to 30 June. May include a provisional figure for annual results. This can include an update on current trading. These figures can be announced early in the month but usually appear about the last week just in time for the 31 July deadline above.
2. Update on TSF. Been waiting on this becoming operational for years, literally, but something has been promised for July, I presume this July!!
I have been shareholder for many years and am just sitting on a small profit and looking for the opportunity of a long overdue capital gain in the next 12 months.
Patiently waiting