Goldplat Share Discussion Threads

[lowtrawler] 04/5/2023 16:25

ACT, Q3 was out on 5 May last year but mid May the previous year. Something to look forward to!

What we really need is the TSF plan but it just drifts and drifts and........

[michaelfenton] 04/5/2023 14:05

POG is the key to the future of GDP if it continues to rise. The pipeline delay is annoying and the power cuts outside our control. Luckily all our eggds are not in South Africa.

[arlington chetwynd talbott] 04/5/2023 13:49

PoG cannot hurt, but more than anything else we probably need to get out of this news desert.

[kimboy2] 24/4/2023 16:34

Power cuts are about the same



Presumably we are due the Q3/23 numbers in the next week or so.

The deadline of June for the pipeline permission is fast approaching. The company said in February.

The application for a pipeline to the DRD Gold premises is still being evaluated by the authorities and although we have indicated before that it will be by no later than June 2023, the timelines for when approval will be received are not that clear and we will update the market once we have more clarity.

In November 2021 they said.

Towards the end of October 2021 an application was made to get environmental approval for the installation of a pipeline to a process facility in the area. This pipeline could provide us with an avenue to pump and process our current tailings facility which contains circa 82,000 ounces of gold ('See the announcement dated 29 January 2016'). The approval process will take approximately 12 months.

I am not holding my breath.

[arlington chetwynd talbott] 24/4/2023 10:40

News of more power cuts or just ennui?

[arlington chetwynd talbott] 14/4/2023 15:01

More like it.

[michaelfenton] 14/4/2023 12:47

Thanks for those wise words Lowtrawler.

[lowtrawler] 14/4/2023 10:45

ACT, at the end of the day we need to recognise this is a very small business operating in a highly complex area with lot's of technical accounting required. They don't have the investor relations of larger organisations and management time / effort will be concentrated on delivering services to customers.

As shareholders, we can justifiably complain about lack of communication and failures to prioritise what we expect. However, I am reassured by comments from kimboy and have decided to just place these in a drawer which says review annually. The reality is, even with the SA power problems, they are making good money and will eventually monetise the TSF. My annual review will assess whether the intention is to share those returns with shareholders. If I reach a conclusion they do not, I will exit. Until then, I will hold.

[arlington chetwynd talbott] 14/4/2023 09:10

Frustrating share to be in at a time like this.

[michaelfenton] 13/4/2023 04:42

Thanks Kimboy interesting thoughts.

[lowtrawler] 12/4/2023 15:21

Pog1234, there does at least appear to be a plan in place on how to process it. Hence the applications and building a 2nd TSF. Unfortunately, GDP have not provided any details, timeline, financials or anything which may be useful to shareholders in evaluating the impact.

In fact, they first we became aware it was going on was because a poster on this forum found the planning application! Even now, that probably provides more information than any announcement from GDP.

[pog1234] 12/4/2023 14:43

My only querstyions is, will the TSF happen? If so, when?
GDP has been talking about it for ages now but shown no progress!
Time to deliver in my opinion!

[lowtrawler] 06/4/2023 12:46

Kimboy, it sounds like you have had some engagement with Martin?

If so, if you're happy then I'm happy.

[kimboy2] 06/4/2023 09:58

The pipeline is clearly in the pipeline but is dependent on an excessively slow approval process.

I think there is more than that though. They gave a clear indication of that in the interims when they stated that the strategy is to get "increasing long term visibility of earnings in the recovery businesses through key initiatives."

They said that the key initiatives were;

• investing into research and development to identify different processing methods and equipment to maximize value from resources available;

• expanding our environmental services delivery to industry;

• identifying opportunities for growth in the recovery operations by investing into other locations and into additional equipment in our current operation, as well as enhancing operational efficiencies. This should enable the processing of lower grade material at current operations and at different locations closer to the source and;

• continuing to leverage on industry relationships to increase long-term visibility so that we can increase our resources and available materials for processing; and

• continuing to look beyond our current recovery operations for further opportunities to apply our skillsets and resources. In line with this, we made a strategic investment of £150,000 to obtain the usage of a small spiral plant for our gold operations in South Africa and acquire a 15% shareholding in a fine coal recovery technology company. Goldplat has an option to invest an additional £1.5m which will increase our shareholding in that business to above 50%. Management is still evaluating this option which would diversify our recovery operations into a different commodity, namely coal, of which South Africa has significant resources available. The technology is designed to extract fine coal from previously mined and processed material and should have an environmental neutral impact.

Clearly there is something happening on all these fronts, otherwise they wouldn't have mentioned them.

[michaelfenton] 06/4/2023 09:45

Yeh maybe the pipeline is in the pipeline?

[kimboy2] 06/4/2023 09:26

Yes I thought about buybacks. Werner has clearly indicated that with the present share price that is what they would rather do, and IMV that is reasonable.

So why no buybacks? Well, I believe that there may be something in the pipeline which may prevent them buying back.

[dinky00] 06/4/2023 09:02

£200k buyback was announced with the results this time last year, could they not have done the same thing again!

[shill10] 06/4/2023 08:39

exactly Kimboy, people who think the Directors will listen to people on this board are living in cloud cuckoo land. Wait for the TSF details to come out later this year, then the share price will react.

[michaelfenton] 06/4/2023 04:56

Kimboy2 - re Martin Oii are you saying he is happy with the downward drifting SP? If so that is ominous for small shareholders like me who have waited and waited for some eveidence that we are being considered.

[kimboy2] 05/4/2023 21:48

IMV bombarding directors would not be very helpful and a distraction.

As for Martin Ooi he is an intelligent bloke, fully committed as a shareholder and, most importantly, has all the available facts. I know that he is very happy with the direction of travel.

[ih_692232] 05/4/2023 18:16

In simple terms if Martin was presently or persistently demanding of dividends would the board fly in the face of a shareholder who owns just shy of 30 per cent of the company ?
The conclusion I draw is this does not currently fit with his requirements

But as has been pointed out 70 per cent of shareholders could take a different view

I am at a loss to understand the failure to devise and publicly state a company dividend policy - provided there are profits some percentage of these could nigh on always go towards dividend

The share price does not demonstrate capital growth for shareholders

So what is left future Hope of share price capital growth ?? How ??

A small company like this is never going to show fair value without dividends

It’s all Hope value ….

And look at the price of gold ….

Has that been reflected in the share price ??

This company needs to be run better and smarter

Better communication
Better understanding of shareholders views
Better rewarding of shareholders

Otherwise it’s a private toy for the board to play with and fritter profits without consequence as has so sadly occurred these past ten years

The best shareholders can do is communicate directly to the board - e mail your views let them understand your concerns and demands as a shareholder
Begin a concerted bombardment of individual shareholders views to the board
Let them know what we think
The q and a at each quarter date is lip service to taking into account shareholders views
Alm

[michaelfenton] 05/4/2023 18:08

Does anyone have any contact with Martin Oii?

[lowtrawler] 05/4/2023 17:11

The inability of the BOD to look after shareholders was actually demonstrated with the GRL minority acquisition for an extra 17% in our SA business. The business was valued at over £20m in that transaction and we now own over 90%. Hence, our share of the SA business should be valued at over £18m or we effectively diluted ourselves by paying too much.

GDP were notified the minority holders wished to dispose of their holding. Who else was going to buy their holding other than GDP? Based on our market capitalisation at that time, the whole of GDP was only worth around £12m and so the SA business was probably valued at £8m within the GDP share price. To avoid dilution, GDP should not have valued the SA business at any more than £10m. Instead, it agreed to pay a valuation twice that amount. As I say, it is very unlikely they would have found any other buyer than GDP and so why did we agree to pay twice as much as it would be valued at following the acquisition?

At the end of the day, it will probably be a good piece of business when the TSF is monetised but it was dilutive and we almost certainly paid more than we should.

[lowtrawler] 05/4/2023 17:00

MF, there is only 1 sensible suggestion - engage with Martin to understand whether his interests are aligned with ours. If they are, we can all relax. If they are not, we will each need to decide whether we can live with the consequences.

If we can't find a way to engage with Martin, we will need to wait for evidence by way of dividend announcements.