Goldplat Share Discussion Threads

[lowtrawler] 25/3/2024 09:04

dinky00, I assume because they had lost their export licence In Ghana, they had to pay customers interest on the delayed proceeds. Together with the delay in revenue receipts, it left us with a cash gap and additional interest?

At the time, there was no embarrassment shown by GDP towards the Ghana license issue. No indication of the additional costs arising from it. No recognition it could damage our reputation with customers. Pretty similar to the year-end audit debacle.

[dinky00] 25/3/2024 08:55

Why did delayed sales in Ghana result in interest paid jumping by £750,000?I can't follow these comments:As a result of the 82% increase in revenue, the amount pre-financed during the 6-month period increased significantly. This together with a circa 3% increase in interest rates to circa 11% (an effective 38% increase), resulted in a significant increase in interest paid which amounted to £827,000 (H1 2022: £75,504).The foreign exchange loss of £456,000, an increase of £334,000 from H1 2022, was mainly due to the Ghana Cedi weakening by 5% against the United States Dollar between July and December 2023.Net interest paid of £888,000 (H1 2022: £202,000) includes £69,300 (H1 2022: £116,000) interest paid to Nedbank on the repayment of the loan incurred to repurchase minority shares in South Africa. As at the end of December 2023, the outstanding value of the loan with Nedbank was £767,000.

[arlington chetwynd talbott] 25/3/2024 08:30

Fair comment.

[dinky00] 25/3/2024 08:17

Mkt makers don't care about any news releases or earnings updates. They only care about buyers & sellers. First call they got this morning was a seller so they've called them down...

[sea7] 25/3/2024 08:11

I note in capital commitments, section 18 of the notes, they indicate financing the generator purchase through an asset financing facility at a local bank

[arlington chetwynd talbott] 25/3/2024 08:04

Certainly surprised that the market response is a tick down.

[sea7] 25/3/2024 07:53

Keeping the carrot there...

The Company will remain focused on sharing future cashflows with shareholders, specifically distributing surplus cash to shareholders where not required for growth in line with key initiatives or managing specific risks.

[kimboy2] 25/3/2024 07:47

I actually thought they were fairly good given the various 'one offs'.

The profit was £1.17m. Then there was £600k from some sort of shortfall on a circuit, probably £500k in interest due to refinery delays and then the foreign exchange loss of £400k which I always discount.

A few things stand out to me.

1. It seems clear that Ghana is going to be the main driver, apart from the TSF. This is one diversification which has worked well.

2. Would be interested to know why admin increased by £0.5m

3. The strongest confirmation that they are going into coal as it is a strategic objective. There was nothing about reviews etc.

4. South America looks to be going well. They ned to establish a base there pronto IMV.

5. I haven't seen the breakdown of inverntory numbers before - £5m in SA and £14m in Ghana.

6. Notice that they refer to the 2.2 million tonne TSF rather than the 1.43m jorc. Other than that no news on the TSF.

[arlington chetwynd talbott] 25/3/2024 07:22

That could have been worse.

[michaelfenton] 23/3/2024 04:18

There have always been water issues in SA>

[michaelfenton] 23/3/2024 04:18

True shill10 but not a lot to discuss?

[swiss paul] 22/3/2024 20:55

anyone got a generator they could lend them?

I think they might need a water diviner as well - rumours are water issues in SA

[shill10] 22/3/2024 20:05

though not a lack of moaning....

[michaelfenton] 22/3/2024 15:04

lack of Dividends is in reality a disgrace. Now we have lack of news too?

[lowtrawler] 22/3/2024 14:44

dinky00, what you say would be true if anyone thought the profits being made belonged to the shareholders. Time and again, we have seen GDP spend profits on projects that ended up going nowhere leaving shareholders empty handed. You see an equivalent in certain companies where most of the profits being made end up being paid as bonuses to the senior management and Directors.

Unless the profits are paid for the benefit of shareholders, there is no reason for them to form the basis of our share price. In most companies, the logic would be that shareholders receive x% in dividends and the retained profit is reinvested in profitable activities that expand the business and end up making more than the original retained profit. With GDP, at best, retained profits help defend the existing business and do not appear to add shareholder value. In this regard, it is difficult to see what benefit shareholders get from the profits being made.

[dinky00] 22/3/2024 13:05

the truth is this stock is severely undervalued even without any TSF!

[kimboy2] 22/3/2024 12:34

I don't think they will lay out future dvidends because they will be dependent on the price of gold.

They are going to dish the profits out in some proportion. I would guess perhaps 70% will be given in dividends.

[lowtrawler] 22/3/2024 11:56

dinky00, GDP have the power to fundamentally shift the share price without spending any money. All they need to do is publish the TSF plans in a shareholder friendly way. Imagine if the TSF plans said something along the lines of:

- All TSF net profits to be paid out as special dividends
- Expected profile: 2025 $2m; 2026 $10m; 2027 $10m.....

Analysts would plug the special dividends into their models and we would have lift off. It is information GDP almost certainly already have and it simply needs published in a way that has maximum impact on the share price.

Of course, if they introduced a regular dividend policy and share buyback scheme at the same time, we could have a share price exceeding our dreams.

[dinky00] 22/3/2024 10:58

- Profits up 20% in the first half of the year versus 2023. £3.4m- Days lost to blackouts down to 7% versus 23%. (Generators in place by Q4)- Cash balance down versus 2022 but increased £350k quarter on quarter.- Debt coming down fastWe're really at the tipping point here. A bunch of retail investors are not going to get this back to north of 10p. The board needs to recognise the absurdity of the current share price and allocate funds towards shareholders

[lowtrawler] 22/3/2024 09:43

Investing in GDP is like eating at a restaurant in Mexico. You'll get served when the waiters decide, how long your food will take to arrive is a bit of a mystery and the food may not match your order. However, it will be worth the wait.

I'm now fully loaded here and just want things to start moving. I know many of you have been waiting years but it does feel as though things will start to happen shortly.

[ih_692232] 21/3/2024 15:50

With gold at this astonishingly high price it is even more astonishing that the board of directors of this company fail so desperately to reveal any positive information

What in heavens name are they doing ??
Alm

[kimboy2] 21/3/2024 08:53

It may be because there is news imminent. ISTR Werner saying at the last presentation that they hoped to release the deal with DRD in the next few weeks. This would be done veven if all the permissions were not in.

Let's hope that is rght because that will move the dial more than a few nominal buy backs.

[michaelfenton] 21/3/2024 07:57

Lowtrawler - looks about right to my untutored eye.