Goldplat Share Discussion Threads

[shill10] 21/5/2022 07:50

i wonder if the reason for the webinar is to talk through a TSF announcement on Monday/Tuesday - looking by the price action, someone seems to think so....

[shill10] 20/5/2022 13:26

on track for the highest close since 2020, breakout.

[dinky00] 20/5/2022 12:54

This is more like it

[dangersimpson2] 20/5/2022 09:11

WH Ireland notes are available to everyone with free registration now. That didn't use to be the case but changed a while back.

The last note still has a number of errors that have not been corrected, indeed have been repeated in the short update notes. e.g. EPS forecast doesn't use the lower tax rate for Ghana, and the 10.6p Price Target was actually calculated using a 3xEV/EBITDA multiple not the 4x that is written in the text.

A fully-corrected note with forecasts that reflect the latest trading should see a significant upgrade in Price Target. 4xEV/EBITDA on FY23 Forecasts should be 20p+. The broker may not be brave enough to get there in one go though!

[kimboy2] 20/5/2022 08:58

I am never really sure of the benefit of these presentations. They tend to be for people who know nothing about the company and I suspect have limited benefit in actually sparking interest.

More useful is a brokers note and forecast. That will pop up in investors inbox and they feel they have a valid analysis rather than a salesman's bulldust. It would be very much better if they were generally available rather than just to brokers customers.

Of most use is real numbers. In this respect a dividend and a yield will pop on to everyone's screen who analyses companies.

[dangersimpson2] 20/5/2022 08:24

Yes, the gold price increasing again in $ is improving sentiment for the sector (not that it really affected the ZAR or GBP price), the share price is rising despite some selling from GKG meaning some keen buyers may have appeared, and the company is starting to do more regular presentations to get the message out.

Looking forward, we are still waiting for an updated WH Ireland brokers note which should significantly upgrade FY EPS forecasts, and then hopefully a strong Q4 which will confirm the forecasts, and then we should really be off to the races :-)

[itsyou] 20/5/2022 07:56

So GKG sold another 360k on a day when the share price increased 8%, even after the reporting of him previously selling. Who's mopping these up?

No more stock coming from him now that he's declared that he's stopped selling for the time being.

[dangersimpson2] 19/5/2022 23:49

Kiki was owned and developed long before GKG took the helm. The weak gold price made it unprofitable and they were never able to change it to make it profitable at a lower gold price. A failure, yes, but one without nefarious intent.

[lowtrawler] 19/5/2022 19:56

I'm not one of the long-term holders here and so might not have the full picture. However, he seems to have:1. Got GDP to buy kili2. Made a pig's ear developing it.3. Setup a takeover vehicle to buy kili at far less than GDP have invested in it.4. Now sees the takeover vehicle as more investable than GDP.5. All the while, he has raked in salary and cheap options from GDP.In any other company, he would be persona non grata. The sooner he disappears, the better.

[kimboy2] 19/5/2022 13:11

GDP said in the buy back RNS

All shares repurchased under the Programme will be held in treasury until the end of the Programme and then cancelled.

I thought GKG did a good job apart from Kili. IMV he was let down badly by the management at Kili, but of course it was he who appointed them.

[shill10] 19/5/2022 11:53

not sure re buybacks, aren't there rules about buying back from directors ? in which case Goldplat would have to wait for GKG to finish selling before buying back some more ? The fact that there was no announcement that this is the end might also be an indication, just a thought.

[dangersimpson2] 19/5/2022 11:36

Yep a good summary. Apart from the inability to get Kili to operate profitably, I think GKG did a good job when he ran Goldplat but his heart is clearly elsewhere now and I don't think he adds much to the board anymore.

One place I did feel GKG lacked a bit of ambition when he was at the helm was with the share price. That plus the reality that most of his shares were from options at much lower prices, I am not surprised to see him cash out here and put the money into GCAT. I don't read much into the price he was willing to sell at.

[michaelfenton] 19/5/2022 11:02

Sounds pretty close to the mark Kimboy2.

[kimboy2] 19/5/2022 10:03

Well one or two things occur to me. Firstly GKG is more aligned with GCAT than GDP these days. I can't remember how many GCAT shares he has got (50m?) but he is financially more committed there.

Secondly I suspect that Martin Ooi has told him he is now surplus to requirements on the GDP board. MO will, in effect, be paying a third of his wages and GKG isn't bringing anything to the party these days.

Thirdly I suspect a placing at GCAT isn't far away. The interims to Dec 21 showed an operating loss of £4.9m. They had a placing in February for £2m 'before expenses'.

There will IMO be another placing soon at GCAT and I suspect that GKG would rather have his cash in that.

[swiss paul] 19/5/2022 09:32

As aNED he dont seem to be aligned with shareholders, more aligned with his own pocket

[michaelfenton] 19/5/2022 07:41

GKG was never my most popular member of the GDP team and as far as I am concerned? Took us up the garden path to nowehere and was on a high salary to boot.

[kimboy2] 19/5/2022 07:39

Well it seems that is the end of the buy backs and GKG wants, or is, out.

[camerongd53] 16/5/2022 11:34

2 points
I recently asked if there as anything underlying important regarding what appeared to be the surprise resigning of the chairman. The pr people said if there was it would require a RNS. I took that at face value.

I am concerned about GKG selling some of his shares. He has sold shares about a week ago. The sales were after what I thought was a good 3rd quarter update. The sale was possibly held back until the update was made to the market, which I don't criticise him for as it is good practice.

The fact that GKG is selling shares is significant.

My view until this announcement was to be bullish about the share price in the short and medium term. If GKG had the same view as me, he would have held on to the shares longer and sold them at a higher future price. It is disappointing to think that an insider board member does not expect the share price to rise in the short or medium term

[kimboy2] 16/5/2022 09:26

It doesn't look like it. The new Chairman needs to be an outsider with a new perspective IMV.

It always seemed odd to me that GKG should have a foot in both GDP and GCAT camps while negotiations were continuing. He was brought in as a spy in the cab for Martin Ooi. Now that Martin is in the cab GKG's position is perhaps redundant.

IIRC he was handed a sizeable number of shares in GCAT so I suspect that is where his interest will be.

Wouldn't be surprised if he goes at the next AGM.

[dangersimpson2] 16/5/2022 09:06

GKG clearly not being considered for the upcoming Chairman role then!

[arlington chetwynd talbott] 16/5/2022 08:37

To be fair though, his remuneration is pretty nominal. Looking at those figures, GDP BoD remuneration looks more reasonable than most.

[kimboy2] 16/5/2022 08:17

Perhaps Gerrard is going to buy some GCAT with his GDP cash. That would be interesting.

[arlington chetwynd talbott] 16/5/2022 07:55

Disappointing RNS.

[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.