Goldplat Share Discussion Threads

[russman] 13/5/2022 07:18

A new Chairman?
I vote for Martin as he has 29%

[frazboy] 12/5/2022 20:34

No mention of the much desired dividend in that interview.News on the TSF reprocessing contract is as others have suggested a future price driver.

[ntv] 12/5/2022 20:19

On IG TV interview with Chief executive but nothing new really
Just stated that shares were undervalued but don't seem to forthcoming with another share buy back

[itsyou] 12/5/2022 19:47

Interview today :

[lowtrawler] 12/5/2022 12:45

Very strange to see how range bound we are. 7p - 8p with only occasional flurries outside. With the recent results it seems clear we should be trading higher. Add on the buybacks and the TSF, anything below 10p is a bargain. Quite possibly, 15p is a bargain. It seems only a dividend is likely to rerate the price.

[kimboy2] 12/5/2022 08:47

A strike length of 1,875km has been identified and drilled...

That is impressive from GCAT.

The results are OK without being earth shattering. The important thing will be production results and cash flow. As with all this type of company it is the ones who buy the last dilution who make the money.

[arlington chetwynd talbott] 12/5/2022 07:54

Good news from GCAT.

[tanner54] 11/5/2022 17:02

Posted in the other place.


Goldplat CEO Werner Klingenberg to present at LSE live eventToday

Dear all, we are delighted to let you know Werner Klingenberg will be presenting live and taking audience questions on May 24. If you would like to attend and hear all three CEO's speak, please do use this registration link.
hxxps://us02web.zoom.us/webinar/register/2716522599194/WN_7FT6Y5oCQoaX_4dU2zazBg

[kimboy2] 11/5/2022 13:31

Presumably tipped somewhere.

[kimboy2] 11/5/2022 12:26

A difference of opinion is what makes horse racing and missionaries.

[dinky00] 11/5/2022 11:37

Stock closed 7.95p the day before the update last week.I didn't realise the update was so bad that it warranted a 6% fall

[kimboy2] 10/5/2022 20:45

IMV a takeover would be easy to defeat. Just report the metrics for the TSF.

Once the recovery rate, costs of processing and a timetable for realisation are taken into account I suspect we will be out of the takeover zone.

FWIW I don't think they will announce all this till everything is signed and sealed. I expect processing to start some time next year and perhaps take a couple of years.

[lowtrawler] 10/5/2022 20:33

The listing makes it awkward meeting all the takeover rules. I think Martin will likely try and take it private. No point in the listing.

[kimboy2] 10/5/2022 18:58

I am surprised that someone hasn't bid for GDP.

[ih_692232] 10/5/2022 17:14

Mbo - at that price we would be robbed
Goldplat is a high risk stock - but it’s financial performance of late and future seems very good
But the share price will never move unless shareholders get a dividend - year in year out -that would make the risk palatable even worth while
The board do not seem to have yet grasped this very simple principle
There are sellers aplenty still who bought at 2p
My buy in price was 10p - in 10 years I have not had a penny back and the value of shares is 7/8p
Goldplat has done nothing for me
Investors look at dividend history
It is non existent

Until they change terrible history that the shares are going nowhere

The board has not listened
Alm

[dinky00] 10/5/2022 14:46

Time for a MBO, £15m would probably do it, and you'd pocket £5m/yr once privatised.This stock has no business being publicly listed.They don't go to the market for fundraising, coz they don't need it.....so what exactly is the purpose of being listed?

[kimboy2] 10/5/2022 07:52

Presumably the buy backs haven't finished as they haven't cancelled the shares that they have bought.

The logic still applies as the share price has not moved a great deal. As, from their figures, they are making about £100k pw post tax profit I wouldn't have thought cash was a constraint, even though they do have a few capex items in the pipeline.

Perhaps they are sorting a waiver for Martin Ooi.

[michaelfenton] 09/5/2022 13:30

ACT you sure did.

[arlington chetwynd talbott] 09/5/2022 13:09

I spoke too soon...

[arlington chetwynd talbott] 09/5/2022 12:09

This one is certainly bucking the trend today.

[lowtrawler] 07/5/2022 05:31

Kimboy, think you're correct and unpublished news is preventing them renewing buybacks. Likely the TSF. Hopefully they will publish and then continue the buybacks.

[arlington chetwynd talbott] 06/5/2022 14:50

Your pain I feel.

[napoleon 14th] 06/5/2022 13:36

Small Caps Live

Goldplat (GDP.L) - 3rd Quarter Operating Results
The two recovery operations continued a strong combined operating performance
from the previous quarter and achieved a combined operating profit for the quarter of £2,286,000
which represented a 96% increase against Q3 in the previous period (Q3, 31 March 2021 - £1,165,000).

Good increase on last year, but since there isn't a lot of seasonality here
then this isn't the greatest comparator. 22Q3 here is similar to 22Q2, which is still a decent result.


Sadly, Ghana has broken its track record of increasing quarterly operating profit
that it has held for at least the last three years.
This is due to some political instability in client countries:

The results for Ghana were supported by an increasingly diverse client base in West Africa
and South America who provided a wider range of materials, although volumes were reduced
due to political unrest in some of the jurisdictions in which we operate.

The good news is that South Africa continues to perform well:

The strong operational profits for South Africa during the quarter were supported
by good production through our circuits, specifically gravity concentrators,
and increased gross profits realised on the sales of material processed during the previous quarters.
We are also seeing profits being supported by services in and production of platinum group metals ("PGM's").

House Broker WHI Ireland have put out a summary note, but they haven't updated their model yet, saying:

WHI View: Goldplat remains a very interesting gold recovery business in our opinion
and is capable of treating all sorts of wastes produced as a result of mining.
It makes money from other people’s waste and, as results show, is doing very well
and increasing profitability. It has £2.0m in cash and £5.0m tied up in product
either in transit or at smelters/refineries, so is well covered and was more than enough
to complete its £0.4m share buyback programme put in place to return value to shareholders –
shares bought are being cancelled. We still see fair value at 10.6p but will look to revisit our valuation
in light of the increase in profits being generated by the company and the reduction in the number of shares.

By Mark’s calculation, if Goldplat generates zero operating profit in Q4 then they will report
around 1.7p EPS for the full year, which makes the WH Ireland forecast EPS of 1.5p look
seriously out-of-date. Underlying EPS (excluding any non-cash FX reporting) of somewhere
around 2.5-2.6p would seem more realistic if Q4 performs similarly to Q3.

The other good news is that progress finally seems to be being made on re-processing
the old Tailings facility. First, they need to build a new tailings facility:

The review of our water use license has been completed and we are awaiting the drafting
and issue of the license from Department of Water and Sanitation. The license, once received,
will provide us the basis on which a new tailings storage facility (New TSF) will be developed
adjacent to our existing tailings storage facility (Existing TSF) at a cost of circa £ 350,000.
The intention is for our deposition to be transferred from the Existing TSF to the New TSF,
with the New TSF to be used for storage and the Existing TSF to be used for processing.

They now seem committed to processing by a third party via a pipeline:

We have received the environmental approval required for the installation of the pipeline
to a nearby third-party processing facility, although the required water use license submission
is still in progress. The nearby third-party processing facility has the potential to provide
the necessary deposition capacity to process the Existing TSF.

Recovery, cost of processing and profit share are all unclear at this point, but 82koz of gold
is worth $153m so even 1-2% of that as profit would be material to Goldplat.
Still, good to see some progress on licenses and permitting after such slow progress here over the years.

The second piece of news this week is that Chairman Matthew Robinson is stepping down
at the next AGM. Mark was never that impressed with Robinson. He seemed a nice chap
but there didn’t appear to be a lot of passion for Goldplat's business, and his shareholding
seemed more out of a sense of duty rather than a belief in the economics of the business.

It is not clear if such a small market cap business will really be able to attract a high-calibre candidate.
Ex-CEO Gerard Kisbey-Green is now a non-exec and originally had been earmarked to be Chairman
before stepping up to the CEO role, and then falling on his sword after investing too much
into mining in Kenya, so he could be a good but controversial candidate.
He is an Executive Director at Caracal Gold, which is where the Kenyan mine ended up,
so may have his hands full at the moment.

[dinky00] 06/5/2022 13:13

I'm all in, for the last 8yrs!

[arlington chetwynd talbott] 06/5/2022 12:26

Patience you must have, my young padawan. Coming, our time is. Our returns when it does, the buy-backs will enhance.