Goldplat Share Discussion Threads

[camerongd53] 08/11/2021 11:24

one thing I picked up from the update is that the SA Rand vs £stg exchange rate strengthened or weakened depending on which way you look at it.
This will increase thee value of GDP's net south African assets.
Without doing research I don't know whether it will be accounted through the P&L account or by reserve movements but it would be positive for GDP shareholders in value terms.

[pog1234] 07/11/2021 21:37

For whatever it is worth, but the tax rate is lowered by 1% in South Africa next year.

[dangersimpson2] 05/11/2021 15:19

I have written up my Goldplat thoughts here:

[russman] 03/11/2021 19:08

Little progress on the new pit. Could be the next banana skin.

[dangersimpson2] 03/11/2021 17:58

Although South Africa has been struggling of late, Ghana is going from strength to strength, with operating profit increasing almost every quarter for the last couple of years. And each pound of incremental operating profit is worth about 30% more to shareholders due to the lower tax rate and lack of minority interest.

With Kilimapesa hived off into Caracal, then this seems to be the first update where management have really been able to focus on the growth initiatives for the recovery ops. In SA, we have positive movement on the TSF, toll treatment for West Wits and PGM processing. And in Ghana, there seems to be further momentum, with progress made in being able to access material from Cote D’Ivoire, pre-processing facilities planned for South America, and access to artisanal tailings material in Ghana itself.

The forward P/E is already low single-digits so if you add in the opportunities for sustainable growth, and shareholder returns, the upside is considerable.

[dropside] 03/11/2021 13:24

In the RNS they said:
Our application for the water use license was submitted in the last week of October 2021 and we should get feedback before the end of Q2. We continue to manage and extend the deposit of material within the Group's current tailings storage facility with the help of consulting engineers.

What water license, and what does it have to do with the tailings storage? Does anyone know?

[michaelfenton] 03/11/2021 10:37

I have just added a few more and showing as a sell as is everything else? So you can BUY for a tad under 7.2p.

[lowtrawler] 03/11/2021 10:30

Although I was disappointed by the update, it doesn't alter my view we are under-valued. My view of paying "full price" for the GCAT shares is I feel they were over-valued at listing and the thin trading means you can't rely on the market price as any indication of their true value. I would much rather have taken the cash.

I missed the comments confirming the TSF deal is done. Which part of the announcement confirmed this?

As to MBO, the current directors own very few shares. It is much more likely Martin will purchase us. I've said previously, I think an offer around 12p would likely be successful and still give Martin a sizeable return.

Over the next 12 months, we are either going to get a dividend introduced or Martin will launch a bid. In either case, we should advance into double figures.

[wigwammer] 03/11/2021 10:19

Is there no debt too, post purchase of the minorities?

[shill10] 03/11/2021 09:37

and of course I forget to mention cash and caracal gold shares to the value of £5 million - so the business plus the TSF is now valued at £7 million - even for Goldplat that is anew low in terms of valuation.

[shill10] 03/11/2021 09:30

agreed dinky- its even more of a misplace now we know a deal on TSF has been done and could be up and running in 2022. 82k oz of Gold is worth £107 million at today's prices - we've been through these figures before but the TSF dwarfs the size of GDP - mkt cap £12 mill, crazy indeed.

[dinky00] 03/11/2021 08:48

Its further evidence that this is a very healthy company with a bright future. Considering the cash levels and the profit they are throwing off, the Mkt Cap is so out of whack. It just reinforces my view that there is going to be a management buy out. Why bother continuing to have this listed on a dormant exchange that completely overlooks the sum of the parts of this business.

[farrugia] 03/11/2021 08:37

very happy with this update and have added

'Werner Klingenberg, CEO of Goldplat commented: "I am pleased to see us continue to consolidate our interests in West Africa and look forward to build on this in South America. This, together with improvements in our production units in South Africa, is providing us with a platform to build longer term profitable recovery streams. I am encouraged by the progress made on the PGM front. With initial consideration on the sale of Kilimapesa and majority of the restructuring within the Group completed, we will evaluate our options to return value to shareholders."


They seem to be implying they will be starting dividends. If that happens this will be re-priced because its trading at a ridiculous level.

[kimboy2] 03/11/2021 08:35

Well the numbers look pretty good to me. By my (probably erroneous) calculations;


Q1/21 Q1/22Op Pr SA 1.123 0.564Op Pr Gh 0.28 0.839Op Pr Kil -0.232 SA Tax 28% -0.232 -0.157SA Non con 9.5% -0.291 -0.053Ghana Tax 15% -0.042 -0.125 Finance -0.08 -0.09 Central costs -0.17 -0.17 PAT 0.356 0.808



The good news was;

1. They have obviously agreed a deal for processing the TSF which should mean it gets done sooner and at at a greater rate.
2. They are spending $300k on a facility in Brazil to beneficiate tailings for export to Ghana.
3. They are spending $300k on PGMs. Presumably something is happening on this front at last.
4. We have some more GCAT shares.

The bad news was the gold price fell.

[dropside] 03/11/2021 08:08

Lowtrawler, I thought they were getting the Caracal shares at initial listing price in lieu of the 450K? If so that looks a good deal.

[michaelfenton] 03/11/2021 07:49

Lowtrawler - I am not as negative as you but obviously have some concerns. SA ops on a downward trend whereas Ghana is doing well and gathering a head of steam . South America is interesting? I am worried about Caracal? Of course if Gold goes on the rampage which is a possibility then all will suddenly look rosy.

[lowtrawler] 03/11/2021 07:35

To my mind, a disappointing update. Further evidence we probably paid too much buying out our partners in SA; Investing 450k into Caracal at full price instead of taking the cash; No news on the TSF; No update on dividends.

[camerongd53] 01/11/2021 16:46

I hope today's downward share price movement is not based on a leak of disappointing operating performance to Sept21 or possibly Martin Oooi's influence on a change of strategy

[michaelfenton] 01/11/2021 07:38

Hmm nothing yet Kimboy?

[kimboy2] 31/10/2021 18:58

In the past spending money on growth and diversification has meant Kili.

Hopefully we might find something out tomorrow.

[michaelfenton] 25/10/2021 10:13

The problem albeit a nice one for Martin Oii is the size of his holding? A buyback of any size seems unlikely and I personally favour the reintroduction of a dividend policy? That should still leave plenty for organic growth especially in Ghana.