Goldplat Share Discussion Threads

[michaelfenton] 13/3/2024 04:23

What I cannot understand is why Martin Oii is not rattling the cage? Unless of course he has his own agenda - maybe pick up the whole shebang for peanuts? This is a great little company that is thoroughly badly managed? Lowtraler has listed many of the what I call banana skins.

[lowtrawler] 12/3/2024 23:24

Thanks kimboy, you are much more knowledgeable than me on these things.

I will keep coming back to the price they paid to buy out the SA minority interest though. The price they paid was much more than the value reflected in our share price. By definition, that makes it dilutive. No ifs, buts or maybes, it was dilutive. Without knowing all the detail, it is impossible to know why they paid so much and whether it truly represented good value but unless another party desperately wanted to buy in to become our minority interest partner, it is difficult to see anyone else paying even half the amount we did. Perhaps the partner never wanted to exit and it was our idea in order to take greater ownership of the TSF? If so, the price starts to make more sense but it still remains dilutive.

[lowtrawler] 12/3/2024 14:51

GDP has to be one of the most frustrating investments I have ever made. I have made far more money trading GDP than I would deserve but it has always failed to deliver on the promise.

They have a lovely profitable business that is reliably turning in a decent return. They have the enormous TSF JORC resource and finally have the prospect to monetise it. They are no longer encumbered by Kili. They have a major shareholder sitting on the Board. Yet, the management keep shooting themselves in the foot so the share price can't get moving.

Start share buybacks, then stop; Shares suspended as can't produce audited accounts; Failure to properly manage SA power outages; Not applying for licenses in time; Not managing the mix of product to obtain planned outputs; Working capital requirements massively increase without warning; pay a dilutive amount to buy-out the SA minority interest; indicate a possible move into coal recovery without any discussion or explanation; No commitment to further buybacks or dividends; No published plan for the TSF; No published plan for the main business; Lip service paid to shareholder communication.....

[russman] 12/3/2024 10:13

Margaret Meldrew:
Well? Any joy?

Victor Meldrew:
I think it's safe to say I've had a very good day, all told. In the morning, I turned some water into wine, and then I healed a few lepers, and after lunch, I popped over and parted the waters of the Red Sea.

Margaret Meldrew:
Did the man come about the roof?

Victor Meldrew:
No, but you can't expect miracles!

[ih_692232] 11/3/2024 18:28

And because this board of directors are making little or no effort to inform the market and shareholders about the very good? Future income stream from TSF

It’s like drawing teeth
Alm

[michaelfenton] 11/3/2024 16:24

Lowtrawler - it is so insignificant that nobody knows about it? Also the SA business is declining? I am still in and hope it all pans out but GDP in the past has spelt banana skin?

[lowtrawler] 11/3/2024 15:23

I know we have arguably bounced up from 5.6p but it's difficult to understand why we have not benefitted more from the recent price of gold movements. It does feel as though the market expects further bad news. In a world where almost every gold play is rising, what is holding back GDP?

[wigwammer] 11/3/2024 14:05

Russman has been pessimistic about GDP since it was at 2p. Hence the thread heading. The only time he suggested he was a holder was AFTER it had risen above 10p... Holders should feel comforted that he is now negative again :)

[ih_692232] 11/3/2024 12:25

Is there some further news released re goldplat ?? Alm

[shill10] 11/3/2024 10:36

I don't believe it.

[arlington chetwynd talbott] 10/3/2024 23:04

One foot in the grave? Really?

[russman] 10/3/2024 05:14

one foot in the grave.
as gold price climbs, more cash is required for working capital.

[smackeraim] 08/3/2024 13:41

Gold near $2200 now

[lowtrawler] 08/3/2024 13:24

I think 10x is a bit optimistic but certainly 3x

If they had avoided all the banana skins of the past few years and demonstrated a commitment to reward shareholders, I'm pretty convinced they would be trading in the high teens.

[ertugrul] 08/3/2024 11:29

This share should have been trading 10x of todays price imo

[smackeraim] 08/3/2024 11:06

USDZAR has been dropping hard this last week

[lowtrawler] 08/3/2024 10:57

kimboy2, many thanks for laying the opportunity out so clearly.

If we ran with the $70m profit and deducted $20m for capex and clean-up costs, we would still have a pre-tax profit of $50m. Discount that over, say, a 5 year period deducting tax and it should probably be reflected in our current share price at around $25m less associated risks. Clearly, it is either valued at nil in the share price or something close to it.

[shill10] 08/3/2024 10:08

Victor Meldrew

[michaelfenton] 08/3/2024 10:05

shill - it is always best to be conservative and not a dreamer?

[shill10] 08/3/2024 09:45

that's super conservative to me Kimboy - plus the gold price rise must surely encourage both DRD and Goldplat to get this done asap, its an open goal.

[kimboy2] 08/3/2024 09:33

If we say that there is 130kozs of gold in the heap at the moment.

DRD get a recovery rate of 30-50%.

30% of 130 is 39kozs of gold recovered.

The cost of processing is $5.3/t of ore.

If we say 2.5mt of ore then that will cost $13.25m

If the gold price is $2,150 then that is a revenue of $83.5m and a profit of $70.25m.

If the gold price is $2,000 then that is a revenue of $78m and a profit of $64.75m


There will be some capex and a profit share with DRD, but I think recovery will be better than 30%. I also think gold has further to go as interest rates come down.

Still OK for a £10m company

[goldfund] 08/3/2024 09:20

Yes, you are right - just $9M extra profit for GDP🙂 another $9M when gold will be $2300🙂

[shill10] 08/3/2024 09:14

yes, but you've assumed 100% recovery rate my friend

[goldfund] 08/3/2024 08:51

I think it will be fixed cost (~$500-700/oz), so gold price upside = extra prifit to Goldplat