Goldplat Share Discussion Threads

[dinky00] 31/5/2023 07:33

Share price should be up today on this announcement. Can't say I'm overly impressed with the decision to go with diesel generators. For the outlay, solar panels surely would have been a better option, I would like to know if this option was considered

[michaelfenton] 30/5/2023 15:53

In my opinion the arrival of Martin Oii and his building a substantial stake will have meant many think that Goldplat was finally getting all it's ducks in a row. For me there is only one reason that MO might be happy with the current state of affairs and that is that he is happy to see the share price tank because that would lower his buyout costs.

GDP has a long history of banana skins and not rewarding shareholders but with better management it is becoming a steal for a buyout or takeover. My smaller holding now is a freebee and i do not think we are in danger of going out of business touchwood.

[lowtrawler] 30/5/2023 15:36

baht, if the year-end audit problems were due to the auditors, why are they still retained?

The Ghana License problems effectively shutter the business. If GDP are not to blame, why are they not making more political noise?

You may be correct but the lack of response from GDP suggests lethargy or otherwise.

[baht] 30/5/2023 15:24

alm2 how do we know the audit and the possibly more important Ghana Licence issues are "self inflicted"?

There were several other LSE listed businesses whose final audited accts were delayed where the same auditors as GDP's were "in charge".

I think it just as likely that the Ghana problems might also be due to a few Government fortune tellers wanting their palms crossed with silver or should that be Gold.

[ih_692232] 26/5/2023 11:32

Agree low
Interesting point really is martin ok and what is he trying to achieve….
He has not driven for dividends so is getting no day by day return on capital
He is probably at this share price looking at a 50 per cent gain on his investment … but he can’t sell any volume even if he wanted to as share price would tank
So what’s his ambition here
Sell his block to a take over buyer ? Or buy the company himself
The jam in this company is the tailings facility
Is he waiting until that show is on the road - few years away yet - and then going to demand dividends - or when there is convincing realisation of gold from the tailings either buy the company himself or sell out to a buyer

He has to have some plan or ambition

Or is he happy to be stuck in this for the next ten years with no cash return on the present plod along basis
Risky strategy with a SA based concern perhaps ?
The electricity problem is just a good example of how wheels can come off - never mind the self inflicted ones such as the audit and licence issues
In present circs the logical thing would be to start to trim my holdings when the opportunity presents

[arlington chetwynd talbott] 24/5/2023 23:19

hTTps://www.bbc.co.uk/news/world-africa-65671718

[lowtrawler] 19/5/2023 22:22

alm2, my feelings precisely but it is rescuable. Werner is not a credible CEO but he is essential to GDP operations. Bring in expert commercial / strategic support and let him carry on doing the day-to-day activity. Drive delivery, don't just let things happen in their own time. Instil the discipline of rewarding capital providers. These are basic building blocks and simple to action.

[ih_692232] 19/5/2023 21:51

Yep things are going great at goldplat
No dividends despite sale of Kili
Share price receding down over 40 per cent in 6 months
Audit shambles Ghana licence shambles
But just think we have a future in coal to look forward to
Board sure is delivering shareholder value
Or I am I just being ungrateful and lacking vision here
Alm

[dinky00] 19/5/2023 13:52

125k sold at 8p, 120k bought at 8p, shares down 6%.Sums GDP.L up nicely over the last 10 years

[shill10] 17/5/2023 11:32

yep, unlike some on this board :)

[kimboy2] 16/5/2023 21:32

Martin Ooi in effect controls the company.

I don't suppose he is happy with the bureaucratic delays or the load shedding, but he has to deal in the real world.

[michaelfenton] 16/5/2023 15:17

5 out of 10 for what is a nice little business but spoiled by poor management decisions. I cannot believe that Martin Oii is content.

[ih_692232] 16/5/2023 13:21

The same pattern is being repeated -the share price is unsupported by any dividend so folk loose interest over time and sell
The company/board do not have the discipline of having to annually pay a dividend so can just drift along with free shareholders money (unpaid dividends)and nothing really matters
The share price will never gain ground until dividends are paid or the company gets sold
Neither seem likely for years to come
It’s a private little business for the board with no interest in the 75per cent shareholders
Martin 25percent seems content with the fanciful notions of growing the business
He is an insider so maybe he has more compelling evidence than the general shareholders-perhaps the tailings plan will miraculously reach fruition one day
And how do the board now sit as to the balls up over audit followed by the balls up over Ghana licence

Marks out of 10???
Alm

[arlington chetwynd talbott] 14/5/2023 11:47

I believe that the PoG will have its day in the sun, but as ever that will be on its own timetable. GDP needs to get its focus back in the coming months whether the PoG makes further progress or stalls.

[michaelfenton] 10/5/2023 16:22

Let us not forget the POG? I am counting on further rises if so GDP figures will look good as long as they sort out the Mining licence in Ghana (another error by management.

[lowtrawler] 10/5/2023 15:43

I'm now out. Will continue to watch and assess to determine whether to return but my concerns over management capability, strategy and shareholder interests got too much. Good luck to kimboy and the rest of the LTH's. I appreciate all your patience and support.

[lowtrawler] 09/5/2023 16:43

MF, my remaining shares are also "free". I was comforted by kimboy indicating that Martin was happy with the direction of travel. However, I have no idea what Martin is hoping to achieve from his investment. e.g. it may suit him for GDP to falter and he could then make a cheeky offer, install new management, monetise the TSF and sell-on.

The more I think about it, the less comfortable I become.

[michaelfenton] 09/5/2023 16:01

Yes this is all a worry Lowtrawler I only have 75000 shares now and these are all free. Which is the only reason why i am still in. Also what about Martin Oii surely he cannot be happy with the situation.

[lowtrawler] 09/5/2023 15:04

MF, following the interview with Werner. I have now sold 2 blocks and am considering whether to remain invested. Having a license for your Ghana operations is fundamental. Without it, they are out of business. Werner's attitude in the interview was "let's see what happens". Any other CEO would be camped out in the license office. He doesn't give the appearance of someone in control. The same impression exists for what is happening regarding the TSF. Everything just drifts and happens, or not, in its own time. The same impression for the audit debacle. The same for the power outages.

I know we are a small company but Werner is one of the least impressive CEO's I have ever come across. I worry that he will choose an easy life. Retain all the cash generated so that he never needs to worry about funding. Pass our cash onto friends via pet projects. Diversify into vanity projects using our cash.

The only thing actually keeping me here at the moment is the prospect that the TSF comes good. However, I worry he will pass most of the gains onto DRD or "friendly" contractors.

[michaelfenton] 09/5/2023 14:45

I am worried about why the renewal of the Ghana mining licence is delayed. Banana skins are regular with Goldplat and what is it now with coal? Stick to the core business guys and pay a Dividend.

[lowtrawler] 09/5/2023 14:38

baht, regarding dividends. You are correct, GDP has never been an income provider. It has always preferred to develop the business or expand into new ventures, presumably with the intent of becoming larger and more profitable. They now have an extensive track record of failures following that strategy and so investors now naturally need more justification for any proposed expansion or diversification. IMV, GDP is now a mature business and should be looking to return funds to investors rather than use the funds internally.

If GDP wish to invest, they need to do a better job of explaining what, why and the level of return expected so they can be held accountable. If investing for financial return, there is nothing wrong with taking on debt to be paid from the investment returns while providing a return to shareholders.

I don't believe we are likely to hear anything further on the audit debacle. If it was the auditor's, they should not have been renewed and so I can only conclude it was a management problem and not an auditor problem.

[russman] 06/5/2023 07:50

Nothing new; just plodding along.

[lowtrawler] 05/5/2023 16:13

Werner is not exactly proactive, is he? We hope to get our license in Ghana in Q4, let's see! Everything's running smoothly, a few problems here and there, they should sort themselves out? We'll continue to explore whether we might do anything about power for our SA operations....

Any more laid back and he'd be horizontal.

[kimboy2] 05/5/2023 13:49

Our leader speaks;