Goldplat Share Discussion Threads

[newforestlad] 23/12/2021 10:15

Do you use TA in your trading?A tree shake is easy to spot with charts.

[newforestlad] 23/12/2021 09:29

Don't speak too soon

[ih_692232] 22/12/2021 19:23

2or3p EPS will be just fine so long as at least 1p per share is released by way of dividend
No more stupid losses or hair brained schemes to gobble up profits

Time to give shareholders value

And get that stockpile worked through - must be at least 59 million in profits sitting there
Alm2

[dangersimpson2] 22/12/2021 16:22

No surprises. Which is exactly what you want from results that have taken a while to produce and are released just before Christmas!

The balance sheet is looking stronger than it has in a while, plus we are back trading at a discount to Tangible Book Value again.

The outlook isn't anything we don't know from the last quarterly report. Performance in Ghana is particularly strong at the moment, while the gold price in rand is much stronger in this quarter which should see SA bounce back in terms of operating profitability.

With the cleaner structure and reduced minority interest then I see a minimum of 2p EPS for FY22, and 3p+ is very possible for FY23 if both Ghana & South Africa are performing well.

[lowtrawler] 22/12/2021 16:02

As always, the key is sweating the assets more so that the value can be released. If they can do that AND return shareholder value through dividends, nothing to stop this doubling and more.

[lowtrawler] 22/12/2021 13:56

Can anyone yet see the full document on the website?

[spaceparallax] 22/12/2021 13:41

Perhaps unhelpful posting a massive tranche that can be accessed anyway via the RNS

[lowtrawler] 22/12/2021 13:16

can you actually see them? I went to the website and they're not there.

[shill10] 22/12/2021 12:58

nice results

[lowtrawler] 20/12/2021 11:22

kimboy, the TSF has always represented a huge opportunity - there always seems to be something that prevents the opportunity crystallising.

[kimboy2] 20/12/2021 11:07

This is a resource "sitting on our doorstep" which has already been mined and processed and should therefore be very cost-effective to process. 82,000 ounces of gold on our property with minimal mining costs and relatively simple processing is a great resource to have!

29th January 2016

I thought at the time that the processing cost would be about $500/oz. Obviously since then the price of gold has risen which will make it more worthwhile to extract more gold so the cost will have risen since then.

The recovery rate is unknown. In 2016 it was suggested 15 - 20% 'through the existing tailings circuit'. In a subsequent interview Gerard said 40% was likely, and I suspect it has increased form there.

[michaelfenton] 20/12/2021 09:53

LT as long as my fading memory can remember? Really quite shocking.

[lowtrawler] 20/12/2021 09:10

Let's hope the TSF can deliver its hidden value over the next couple of years. How long have they been trying to extract value from it now?

[kimboy2] 19/12/2021 11:11

I don't think the valuation was based on trading. It was based on asset valuation. The biggest asset is the TSF.

[lowtrawler] 19/12/2021 09:50

Personally, I was very happy with the price received for Kili. My only disappointment was our agreement to take more shares in GCAT than we needed too.I do think they overpaid for SA. The price was based on better trading than achieved this year and should have bourne some relationship to the GDP share price. We also have to remember minority stakes should be worth less than the majority, not the other way around.

[kimboy2] 18/12/2021 08:36

Did they sell Kili for too little? They were struggling to find anyone to buy it and Martin Ooi was blocking investing any more cash in it. Given the record it is difficult to disagree with that judgement.

I think it is possible to make Kili a success, but let's see what GCAT does when it actually produces some numbers. I see they have diluted their shares with another purchase which would suggest to me they don't have absolute confidence in Kili.

On the price paid the minority shareholders for their shares in SA, I think it was a reasonable price. It only seems unreasonable when compared to the GDP share price.

[michaelfenton] 18/12/2021 06:20

It seems slow plodding on their core business is not enough? So they sold Kilimapesa for far too little and purchased the BEE stake for gar too much? I know GDP is a very small minnow and i suppose the lack of astute management is hardly unexpected? I wonder what Martin Oii has planned?

[kimboy2] 17/12/2021 21:16

Yes I remember when there used to be a list of potential projects with a p/e under 2 for GDP to go at. I suppose that the investment in Brazil and PGMs is a continuation of that strategy.

On buybacks I suppose to be fair they have bought a slab of the SA operation from the BEEs.

[dangersimpson2] 17/12/2021 12:11

Such is the value disparity between Goldplat and the rest of the sector, the vast majority of the returns should come from price appreciation, not dividends. The value in the dividend is the signalling rather than the absolute amount and if they have opportunities to re-invest cash at high rates I'd rather they took those rather than paying it out.

But that said, they are likely to be on a forward P/E of around 3 so this should be the hurdle rate for any capital investment - payback much less than 3 years. Otherwise they are better off buying shares. Martin Ooi has 28% but they could still buy back c6% of the equity without causing him any problems.

[lowtrawler] 17/12/2021 00:55

Agreed alm, we are all hoping Martin can get shareholder value onto the agenda and embed it into the ethos.