Goldplat Share Discussion Threads

[lowtrawler] 06/9/2023 23:02

I have said it before and I will say it again. The key is Martin. Before getting organised, shareholders need to understand Martin's strategy. Unless his strategy is to buy GDP on the cheap or to develop a diversified conglomerate for 20 years time, his needs will naturally look after other shareholders. At the moment, nobody really knows what his intentions are. As his remit is to develop shareholder value, I think it would be appropriate if a request was made for Martin to run regular shareholder discussions and Q&A's.

If his needs do not align to other shareholders, it will be difficult to organise and compete against his interests. In other words, if his needs align, all is good. If his needs are different, a new view of company value will need to be considered.

[bedacau] 06/9/2023 18:47

Glad to see we have some support for this already. I’ll continue to monitor the thread for more responses and we’ll need to find a way to speak as a group on a teams meeting in the very near future

[dinky00] 06/9/2023 12:07

I have close to 1m, count me in

[ih_692232] 06/9/2023 12:03

I agree entirely with this approach
I hold 2.5 million shares Count me in
Alm

[dinky00] 06/9/2023 11:33

Mkt makers will drop the price until there is evidence of buying interest. Based off recent volume, there is no way of knowing what that level is

[bedacau] 06/9/2023 06:18

Once again folks, we need to make a coordinated and concerted effort to bring the boards attention to the concerns. The temptation to simply trust the fact there is a large shareholder with a board seat isn’t sufficient assurance that the board are aware of, nor paying attention, to shareholder concerns.

My suggestion would be that we clearly identify our ownership percentages and submit a letter, the wording of which we are all to agree, to GDP and if no credible response is forthcoming, then we move to a no confidence stand point. Ultimately and at this stage, many peoples positions are underwater and that’s only down to bad management by this board. Time for a warning shot across the bow

[dinky00] 30/8/2023 09:26

What did WH ireland say after the latest update

[arlington chetwynd talbott] 30/8/2023 06:47

I meant that buybacks are an absolute no brainer at 7p or even 8p.

[russman] 30/8/2023 05:52

hope the smelter has paid up.

[lowtrawler] 29/8/2023 22:39

ACT, why stop at 8p? GDP is incredibly cheap based on fundamentals. The reason is the company is not run for the benefit of shareholders. Until there is evidence of that changing, any price is possible.

[arlington chetwynd talbott] 29/8/2023 21:41

Hard not to agree with that. Looks like an absolute no brainer at 7p or even 8p.

[dinky00] 29/8/2023 15:21

The board could buy back 50,000 shares a day for the next 6 months and still have change out of £100,000. The absence of a share buyback at these levels is disgraceful.

[dinky00] 29/8/2023 15:20

When is the last time a director , not including Martin Ooi, bought shares

[shill10] 29/8/2023 09:42

yep, boredom is the reason, one only has to look at a past chart of gold play over the years to see that.

[arlington chetwynd talbott] 29/8/2023 09:26

Agreed re boredom. This uncommunicative BoD are unlikely to help us by doing anything to fill what could be a two month news vacuum. But can the price go much lower than this before more patient investors step in to offer support?

[kimboy2] 29/8/2023 09:15

I think it is often mistaken toput a rationale to price movements. After all the wholepoint of trading shares is that you believe the market to be irrational.

IMV boredom is a bigger factor.

[lowtrawler] 29/8/2023 08:55

kimboy, agree with your assessment and if you don't know, nobody else posting here will know. If there are bid discussions underway, they would not be able to buyback. Also, if they have internal assessments on the true value of the TSF, their Nomad may not allow them to buyback until they make it public.

I'm surprised the price has fallen this far. It indicates to me I am not alone with concerns on how they will use surplus cash.

[kimboy2] 29/8/2023 08:24

Perhaps I am reading between lines which don't exist but I thought that Werner's response to the question of selling out was fairly snotty. I got the impression that this was a subject that had been gone over before at boardroom level.

There are one or two thngs that seem self evident to me.

1. The TSF is presently worth more than the market cap of GDP

2. Whatever Martin Ooi decides is his selling point will be the case whether it is 10p, 15p or 20p.

3. Share buy backs would presently be paying £1 for £2 of asset.

Unless there is something I don't know of course.

[arlington chetwynd talbott] 29/8/2023 08:20

The market is clearly not going to cut us a break this far in advance of the generators being up and running - this is how AIM responds to an identifiable news vacuum. A bargain for anyone who is even moderately patient.

[lowtrawler] 28/8/2023 08:31

kimboy, all the communication around the TSF is poor. At the very least they should update the JORC. Officially, all they have done is point to the JORC and original recovery rates. Your intimate knowledge has allowed you to follow what is happening by piecing together answers to questions and understanding recovery rates elsewhere. It is not something most analysts following GDP would be able to do.

The impression given by GDP is that shareholders are always the last consideration. The last to be told what is happening. The last in line for use of cash generated. The last priority in keeping stakeholders happy. Communication is kept to a bare minimum and often late / difficult to interpret.

It does look as though GDP would be a good fit for DRD and so I'd be surprised if they were not interested in bidding. As you say, only Martin demanding a high price would prevent an approach. Perhaps discussions have been underway for some time and so prevented the company from performing further buybacks. As you say, who knows?

[kimboy2] 27/8/2023 09:00

The balance sheet assets are valued at cost or market value, whichever is least. That is zilch as far as the TSF is concerned.

I am happy with them doing that.

The issue for me is if they are saying the recovery rate is 20% or whatever he is saying, and they know it is 50%, then that is misleading the market.

The only people who will really know the recovery rate are DRD. Perhaps DRD and GDP don't want each other to know what they know ahead of an agreement.

Still don't know why DRD don't bid for the whole shooting match, other than Martin Ooi expects more than whatever they are offering, assuming they are.

Who knows?

[shareholder7] 27/8/2023 07:19

My thought is if they did put a value on the TFS would they then need to revalue the balance sheet and then this produces a tax charge which would drain cash for nothing Best to wait until everting starts

[ih_692232] 26/8/2023 06:44

A good debate about goldplat and TSF
Do we seriously think that DRG are unaware of anything to do with TSF ?
The tonnage /the extraction cost/ the likely yield - for heavens sake they work in this industry and are going to contract with goldplat on the extraction of the whole old TSF

So goldplat are not keeping quiet on this - or on the possibility that someone might bid for the company -again anyone interested would do pretty detailed research prior to bid and due diligence thereafter
So I still question why goldplat are silent and release of detailed information is surely required here the duty to shareholders
They must soon release detailed plans nd information - which is likely to greatly enhance share value
But as others have said - time will tell
500 dollars per ounce will do very nicely
Alm

[shill10] 25/8/2023 20:22

yes Kimboy, its been super slow- but this is Africa, you buy assets at a great discount, but great patience also required- we are so much closer than ever under GKG, credit to Werner and Martin Ooi for that, it ain't easy.

[kimboy2] 25/8/2023 19:45

I think that is right that the long term holders are hanging on for the TSF. I also understand why they are witholding the detailed information while they are in a negotiation.

That isn't the problem. The problem is that it has taken so long.

I also note that the metrics at the Ergo plant are a recovery rate of 40-50%, a recovery grade of 0.2g/t and a processing cost of $1380/oz.

If there is any read across to GDP I have no idea.