Goldplat Share Discussion Threads

[sea7] 19/10/2016 08:49

processing fees historically have always fairly low.

2015 - £154k
2014 - £347k
2013 - £210k
2012 - £128k

As there is a near tenfold increase to £1.501m for y/e jun 2016 then it would appear that about £1.2m of this is for the rand contract. Half of this is in dispute.

Shouldn't be too long before we hear something on this, after all, it doesn't take that long to go through the paper trail and make assessments.

[kimboy2] 19/10/2016 08:21

The total 'processing fees' in the accounts is £1.501m. Presumably the bulk of that is RR. This is to produce 2953 ozs of gold and equicvalent. That works out at a cost to RR of $650/oz.

Seems a lot to me but presumably it was difficult material otherwise RR would have done it themselves.

[sea7] 19/10/2016 08:07

Hi dd,

does seem like that when I put s7!!!

We are likely to be in for a positive update for Q1.

There are plenty of items which we are looking for progress on. As they put out an update on the same day as the agm last year, I am expecting the Q1 update to show up on the 27th.

[discodave4] 19/10/2016 08:00

Thought you were posting to yourself at first!Hope all is well.This needs some very positive news to get the share price moving, still think the RR issue put the brakes on its recovery, it's just gone sideways since, will wait and see.GLDD

[sea7] 19/10/2016 07:53

S7,

Yep, the rand contract was fully completed during Q4 of 2016. The update on 31st August for the three months ending 30 jun 16, shows this.

[shareholder7] 18/10/2016 20:20

Thanks DDSo the fees are in the revenue but they are saying that they have not produced any gold equivalent in the notes to the accountsMost misleading in my opinion

[discodave4] 18/10/2016 19:56

From the prelims, GPL:"Revenues of GBP15,223,000 (FY 2015: GBP14,001,000) were achieved and cost of sales amounted to GBP12,504,000 (FY 2015: GBP12,346,000). The value of the gold equivalent ounces produced from the silver sulphide toll-treatment project was not recognised as revenue, but only the fees received for processing, of which approximately GBP679,000 is now being disputed by Rand Refinery."RR has withheld payment of £679k processing fees, the rest, who knows how much, has I assume been included in Rev.DD

[shareholder7] 18/10/2016 15:24

Sea I thought the whole of the rand contract was in the 2016 figures So the 640k potential bad debt was in the turnover Is that correct

[sea7] 18/10/2016 11:48

The rand contract is in the Q4 figures and the amount of ounces produced is not recorded as revenue, only processing fees received, that might account for a lower return in the quarter. Excluding the rand ounces, I wonder how much of the additional 4k ozs over Q3 production would also be gold equivalent ounces.

The full use of the elution plant was not available until the latter part of the quarter, which is when the rand contract had finished.

There will be justifiable reasons for the lower return on increased ounces in the quarter, however, as you say, we are not going to get a good idea on production and profitability until we see this Q1 update, as it will not have any backlog material or the rand contract clouding the picture.

[sea7] 18/10/2016 11:26

I am expecting the update to coincide with the AGM, they released an ops update on the same day as the agm last year.

[kimboy2] 18/10/2016 11:00

I presume we are going to get the Q1/17 update in the next week or so. It seems almost pointless trying to predict with any sort of precision when South Afirca can do 4864ozs in Q3/16 at an operating profit of £0.845m but produce 12,083ozs in Q4/16 with an operating profit of £0.57m.

However VSA is forecasting a profit of £1.928m for this year. If you add £0.8m for central costs you get £2.728m operating profit, or £0.682m per quarter.

It looks as though the CIL will be operating at Kili in a couple of months. The £1.2m they say they are spending at Kili I presume includes the CIL and the crushing plant in January.

That will increase capacity to about 3ktpm from about 700tpm at present.

Profitability will depend on how much of the higher grade artisanal material they can acquire.

[flyingswan] 15/10/2016 10:19

Quite an interesting history:

[michaelfenton] 12/10/2016 10:53

Thanks sea7 - I has presumed it was Dec 2016 but happy to have confirmation. Things all coming together for decent 2017.

[sea7] 12/10/2016 10:20

On page 18 of the september presentation it states regarding kilimapesa, that first stage commissioning and production start up is planned for end december 2017.

I have spoken with Gerard about this, as I was sure it should be december 2016, he has confirmed that it should read december 2016.

[qvg] 12/10/2016 07:25

From Mergermarkets yesterday:

Goldplat [LON:GDP], a gold-recovery and mining company, has been approached by potential buyers for a stake in its Nyieme project in Burkina Faso, Chief Executive Gerard Kisbey-Green told Mergermarket. A deal would likely be structured as an earn-in, where a suitor expends the amount of capex of the mine’s development in exchange for a stake in the project. He declined to specify the percentage of the project on offer or the amount Goldplat would look to raise through a deal. Goldplat has a market capitalisation of GBP 10.07m (EUR 11.3m).

[sea7] 09/10/2016 21:09

I wonder if we will work with these guys in brazil as they must have a lot of contacts.

[sea7] 09/10/2016 20:36

Morkel is living in belo horizonte, minas gerais brazil

[sea7] 09/10/2016 20:33

I see that Morkel Du Plessis describes himself as manager goldplat brazil..
He was area manager at midas in burkina faso

[sea7] 09/10/2016 19:59

I notice on the agm agenda, special resolution 6c, has had the nominal aggregate amount increased to £400k from the £300k last year. Otherwise it looks fairly similar and straightforward.

[sea7] 09/10/2016 19:48

AGM 27TH October....

[flyingswan] 09/10/2016 19:41

Does anyone know when Goldplat GDP the AGM?

Goldplat GDP announce the AGM on the 3rd October last year and held it on the 29th October 2015, including a production update. There was also more news on the 31st October 2015.

Any ideas of the time scales for this years AGM?

[sea7] 09/10/2016 18:41

Thats what I thought.

He was supposed to be winding things down. Guess he isn't really ready yet.

[shareholder7] 09/10/2016 17:14

So much as Brian wanting to retire at age 80 Sea?