Goldplat Share Discussion Threads

[sea7] 09/10/2016 15:02

I see that Brian Moritz has been appointed as a NED at vast resources as of last week.



Roy Pitchford ceo vast resources says...

“I am delighted that Brian has agreed to join our board – he has had an exceptional career in the junior resource industry and has multiple success stories under his belt. Brian and I have worked together on several occasions in the past and I have always been impressed by his drive, insight and commercial acumen

[kimboy2] 07/10/2016 20:11

They are certainly spending some money on Kili. There is £560k last year and £1235k this year, as well as a £700k loss to susidise.

I noticed in the prelims it said;

The original treatment plant will continue to be used to process high grade artisanal tailings for as long as the existing tailings facility has capacity or until an economically viable means of transporting tailings to the new facility is found.

Now the new plant, when added to the existing plant, will do 3ktpm.That is 80tpd at the new CIL and the rest at the existing plant.

Now if they rely on their own mined material at 2.4g/t then production isn't going to increase that much once the old plant shuts.

Clearly they are going to use higher grade artisanal material one way or another and the presentation says;

Discussions were held with Governor of adjacent Migori County to explore opportunities for sourcing of artisanal material, exploration and potential future mining and processing operations.

Red Rock had some licenses whipped off them in Migori;



There seems plenty of scope for improvement, as well as plenty of gold.

[sea7] 07/10/2016 08:23

I see they missed martin ooi off the top five shareholders list on the presentation.

[sea7] 07/10/2016 08:20

tks will take a look

[kimboy2] 07/10/2016 08:02

There is a presentation on the website. Interesting bit on itemising their investments.

[sea7] 04/10/2016 14:21

KB,

A few points from the tip tv, interview are...

Gerard stated that we are producing around 40k ozs per year at the moment.

The stock dam is around 2g/t and he is hoping for 40%-50% recovery.

On sourcing he states that it is mainly batch by batch, meaning that we may have a 3 year contract with someone, however, that doesn't mean material every month.

Sometimes they will buy the material outright and take the risk on what is in it, however, normally they both assay, process it and then pay the client when the gold is sold, or they return gold to client.

He said the cost base at recovery business is more like a factory than a mine and that costs do not go up as much when the gold price goes up.

Rand refinery had issues and they could not foresee the effects it would have on a small client like goldplat, compared to the likes of anglogold ashanti etc.

He stated that they have had material from sudan and tanzania. The trial batch from south america was completed and the sourcing manager is living there now.

He does not intend to build a new plant in south america in the short to medium term as it is a difficult market to operate in, they are fairly naive in that market at the moment and do not wish to commit capital and resources until they understand the business there. They will simply acquire material and ship it to ghana.

[kimboy2] 04/10/2016 09:19

I think that the pit next door is the most profitable but it is probably some old mine that went bust years ago with various competing claims on it, so a bit of a puzzle to entangle I imagine.

I haven't seen the Tiptv interview as my computer is playing up but if Gerard is saying 40-50% I would expect something a bit over 50%.

The heap is of course a big asset which will give a handy increase to profits when it comes on stream. However it is also an asset that is being constantly renewed, at an ever increasing rate.

[wigwammer] 03/10/2016 11:48

Tiptv interview:Gerard speaks about 40-50% recovery from the stock dam, and they are waiting on securing a final deposition site before starting the processing i.e. pretty imminent.At say $500 cost per oz, that's a circa £20m asset, or £10m+ including tax, minorities and discounting. Current market cap circa £10m.

[kimboy2] 02/10/2016 17:49

Yes it is quite interesting that page. However if you take 27kozs of production and times it by the high/low variance in the gold price of $276/oz you get quite a big number.

The beauty of GDP is that it can adjust its input price so the effect of such a change of gold price won't be so severe. Now that it has got through its backlog it can match this even better.

Talking of which I notice that the 'precious metals in process' is virtually the same as last year despite having sold off 3kozs of backlog.

[rolo7] 02/10/2016 17:15

Gdp state they would get RR payment after taking legal advice, table on page 60 looks interesting big ranges in profits. Average gold price fy2016 was 1,167$ now 1300+ looks good to me!

[michaelfenton] 02/10/2016 15:43

I feel a little too much time is spent discussing the RR situation. For me it is a minor blip - yes woul be nice to receive the money but looking ahead it will be of little consequence and has in some ways creted a buying opportunity.

[shareholder7] 02/10/2016 15:34

Which means that it has not been provided for in the profit before tax SeaIf they don't receive this they would have to restate their 2016 profit

[sea7] 02/10/2016 14:19

I see the trade and other receivables figure of £6.255m contains the £679k disputed amount from rand refinery, as per note 21.

[kimboy2] 02/10/2016 11:37

The AR is on the website.

[flyingswan] 01/10/2016 12:22

This person is confident to buy Gold mining shares, see link. I understand GDP does do mining in some countries as well as recycling/recovery of waste products? I am surprise Goldplat GDP is not fully recognised as a Silver producer too?

[sea7] 30/9/2016 22:54

I see there is a tip tv interview on the website as well now.

[sea7] 30/9/2016 22:39

VSA note still available at the following link... it is also shown as the fifth one down on the downloads page.

[kimboy2] 30/9/2016 22:21

Also notice that the VSA report has disappeared from the website

[kimboy2] 30/9/2016 15:18

No I didn't understand the FCF number. I had ignored that.

[wigwammer] 30/9/2016 15:16

For example kb -Operating cash flows between 2018-20 shown to be at or around £1m pa on page 14.Yet free cash flows between 2018-20 average around £3m pa on page 3.

[kimboy2] 30/9/2016 15:10

Yes it isn't great, but I think that the two cash flows add up.

The one thing I notice they didn't account for is I think the minority interest earnings come back to GDP to pay for the original purchase.