Goldplat Share Discussion Threads

[shill10] 17/1/2024 14:11

spot on shareholder- we have seen many times before this share can move 10%+ in either direction on £50k of share trades.

[ertugrul] 17/1/2024 13:53

Nice to see volume picking up and price moving up

[gb904150] 17/1/2024 13:37

I was thinking the same s7. Werner isn't a slick presenter but they are making slow, steady progress on the ground.

The lack of focus is very frustrating, pursuing coal recovery for no apparent reason and venturing to new geographies (South America) although Werner did explain it's more about the partnerships they are developing so perhaps there is more to it.

Perhaps they are also thinking about 'life after the TSF' if that is the eventual plan that DRD buy it.

Meanwhile we can wait a long time because the company is already very cheap, Mcap is probably less than the replacement cost of the SA plant and yet GDP has built up huge technical expertise in (profitable) metal recoveries.

On top of that the company is profitable, has cash and very little debt. Investors are fed up of waiting but progress has been made on GCAT, DRD/pipeline and the TSF / permitting.

Ghana has the licences sorted now so that is unblocked and while we know all about load shedding problems in SA there is a plan to mitigate that with the diesel generators.

If the company can just not get too carried away with the diworsification projects then I think the value will become much more obvious over the coming months.

[shareholder7] 17/1/2024 12:54

Looks like people are waking up but you won't be able to buy many shares as long term holders can see the value and will hold.Been topping up as this is buying gold at a big discount. Plus you also have a business that will recover once the generators kick in. Great share and I am pleased Werner is a bit dry and puts people off, you don't need a super start running this company when you are sitting on so much gold. Just have to go the pace of SA government can't do anything quicker.

[shill10] 17/1/2024 12:16

Werner said there would be no uranium recovery via DRD, not possible.

[sea7] 17/1/2024 11:23

whilst we focus on the gold in the TSF what is the view on the silver and uranium

jorc results said 82k gold, 214k oz silver and 193k lbs uranium

uranium sells at $106 lb on the spot market - do we think it will get a look in, during recovery?

[kimboy2] 17/1/2024 11:11

I suspect that the grade on the recent stuff isn't as high as previously. They will have got more efficient at recovery IMV.

In addition the recoverability will be less as it has been weathered less. Having said that the delay may have increased the recoverability of the existing heap.

[ertugrul] 17/1/2024 10:47

Good guess work but its more realistic, with increasing gold price this can not go wrong and its cheap as chips....

[shill10] 17/1/2024 09:45

1. Roughly 130k oz, increasing by c 6k oz per year as long as recovery operation continues at current rate

2. 50-70% based on previous studies and 1.8 gm/T grade cw much lower DRD tailings grades already recovered

3.$2020

4. total pipeline cost over 20 km roughly $30 mill but only 0.5km needed to hook up gold-plate to pipeline already planned for another larger DRD tailings

5. previous DRD recovery suggests c $500 per oz

Mostly guesswork :)

[kimboy2] 16/1/2024 13:20

The crux of any valuation of GDP depends on the TSF valuation. This will depend on:

1. How much gold is there?
2. What is the recovery rate?
3. The price of gold
4. Any capital costs coming GDP's way
5. The cost of processing

Any answers are just guess work till the company tells us.

[ertugrul] 16/1/2024 12:21

All we need i think little more practical management who can take the action faster.

Otherwise this is the most undervalued gold stock in the AIM

[shill10] 16/1/2024 11:32

I disagree Paul - it was under GKG, Werner has made plenty of progress, new TSF approved and built, Kili finally sold, DRD deal incoming.

[swiss paul] 16/1/2024 11:25

Yep because the TSF is not a given and the market is pricing this in. Failure to deliver is a constant with this organisation.

ergo

[shill10] 16/1/2024 11:18

I would argue that on a p/e of 3.6 the TSF is valued pretty much at zero - any share can always go lower with further frustrations for sure, my best guess is DRD pay Martin 18p a share ie £30 mill for the whole shebang - DRD has a market cap of $680 mill, no debt and a cash balance of around $120 mill, so Goldplat is a small deal for them.

[kimboy2] 16/1/2024 10:57

With the upside from the TSF it does seem ridiculous. However if the dalays continue ad infinitum then the discounted value disappears to nothing.

That is I think where we are at present.

[shareholder7] 16/1/2024 10:55

But it will be mended and will be a top 10 hit. Only long term holders know this and will benefit.

[shill10] 16/1/2024 10:47

haha, Kimboy. I really couldn't care less about the CEO's presentation abilities, as you say the valuation at £10 mill appears completely ridiculous cw the numbers we have crunched time after time, D day is approaching we will soon find out the truth.

[1ups1de] 16/1/2024 10:17

Ceo came over poorly in this update. As others say his demeanour suggested disinterest( or certainly frustration with having to answer telling questions). It's been 1 excuse after another. Let's see what the first half results deliver. Given its SA & track record it's understandable why PE 3.5. Let's hope we can move forward from here strongly whilst gold price supports.

[swiss paul] 16/1/2024 10:02

Shill it was more than a dog - I found his overall demeanour was that he did not want to be there. That might be the Saffer approach but I think he is not looking for more shareholders and knows that when the deal is done MO will make a grab for the company and he wants to stay employed - with more cash coming in.

[kimboy2] 16/1/2024 08:35

The rand price of gold is up 21% in the last year compared to an inflation rate of 6%. That provides a positive back wind for the numbers.

I can't quite remember what he said but I think that the deal would be done with DRD before all the permissions are in and it will be announced. Was the suggestion it should be in the next 3 months?

I think he said the processing method had been agreed.

They are going to get a new JORC for the additional material. He was non committal on it other than to say it was 800kt. If the grade is the same as the rest then it is another 40,000 ozs.

Clearly the day the deal is announced, and the numbers, is the day when the boat comes in. It actually looks to close on hand.

Given a market cap of £10m the situation would appear ridiculous. Hopefully it is.

He was cagey about the future of the company. I asked if the end game was a take out by DRD which he didn't answer. He obviously wants to stay independent.

This will be Martin Ooi's decision. Once an agreement is reached with him the game is over. If a deal is to be done then the optimal time is approaching.

We won't have an idea of the valuation till we see the TSF numbers. GDP is a heap of gold with a small, profitable reclamation company attached.

Normally a dog makes people more human, but didn't quite work with Werner. At least I didn't hear a gunshot so that was good news.

[russman] 16/1/2024 06:18

It is a broken record.
Always next quarter, next year.
GDP achievements over the last decade have been scant.
Gold near all time high. OOO has accumulated nearly 30%.
But their share price is in the doldrums.

[shareholder7] 15/1/2024 22:56

And with gold now over $2050 it has been a blessing that this has been delayed. Sit back, relax we are sitting on a gold mine.

[shill10] 15/1/2024 22:45

Paul, the dog was comical, but seriously, you're going to let that determine your investment decisions ? I'm more focussed on the TSF whose profits dwarf the market cap of Goldplat by several multiples- the message was clear that we should finally get clarity on the financial magnitude of this in the next couple of months, for me this will be a complete game changer, let's see.

[shill10] 15/1/2024 18:34

sat through the presentation- in the main encouraged, sharing details of DRD deal "hopefully soon.....in the next quarter" , perhaps even before water licence agreement/subject to it being agreed.DRD handling pipeline application, "progressing well", working capital freed up, hints that share buyback will come before dividends.