Goldplat Share Discussion Threads

[sea7] 31/10/2016 11:28

russman,

the link to the presentation...



Relevant section is on page 10.

Page 9 is missing, either in error or on purpose.

[russman] 31/10/2016 11:22

Which one. They are Jackanory.

[kimboy2] 30/10/2016 21:29

How much is you cf forecast and have you looked at the presentation ?

[discodave4] 30/10/2016 18:34

Apologies KB2, no offence intended, didn't mean it to come across as perhaps it does! :)DD

[discodave4] 30/10/2016 17:52

OK KB2, don't really understand your point but if it pleases:If it's worth 6p at £1.48m pbt then low teens (not mid teens) if everything goes to plan and it's all ticketyboo.Dec 6pMarch 7pJune 12p maxDD

[kimboy2] 30/10/2016 16:36

Yes that's rightbut that includes 100% of all the subsidiaries whereas GDP only has 76% of South Africa.

Underneath the pbt figure you will see profit/loss attributable to owners of the company.

Included in that figure is also the finance income. If you look in the AR you will see the vast majority is 'Foreign Exchange gains'.

The finance incpme foreign exchange figure is the result of +/- of foreign exchange movements on their holdings of cash and gold. I suppose it is a real effect but it is just pretty random and doesn't reflect the underlying business.

Similarly the 'exchange translation' is the translation of the net asset value of GDP into pounds. Clearly again this is a real effect if you were selling the business but it is random and does not reflect the trading operation of the business.

That is why I tend to ignore it. All I am interested in is how they are going to do in the future, and the exchange +/- add no infomation in that calculation

[discodave4] 30/10/2016 16:16

From the prelims 26th Sept: -- Profit before tax of GBP1,942,000 (2015: loss of GBP796,000) DD

[russman] 30/10/2016 16:15

I am looking at my GDP cashflow fcast.Where is this cash going to be spent?

[kimboy2] 30/10/2016 15:04

If it's worth 6p now with £2m pbt...

GDP didn't make £2m last year. Some goes to minority holders, some was finance income which is just echnage rate flows, and some will of course leak away in taxation.

The figure given for GDP post tax income is £946k and that is after finance income of perhaps £0.5m

One of the beauties of Ghana and Kili is what they make there will drop to the bottom line as against 53% of South Africa will.

[kimboy2] 30/10/2016 10:43

As it happens they have most of the plant for the stock dam.

[russman] 30/10/2016 10:06

As at 30th June there was £2m net cash.
All GDPs legs should be cash generative this year; even Kili.
Let me guess - blow it on new plant for the stock dam.

[sea7] 30/10/2016 08:59

Once kili stops being a drain on resources then we should see some upward movement on the share price.

If all goes to plan then this should be soon.

[neiljoepeg] 30/10/2016 06:42

I think killi is the key to getting share price moving. You can make improvements to different parts of the group for ever but if one part is absorbing all the others the overall effect is a loss. RR issue is a one off, but killi has lost the group millions but has only ever been tagged on the end of an RNS as a one liner. Good luck...

[sea7] 29/10/2016 16:31

Before Gerards time, russman. I would rather they use the resources to implement the capex programme and have cash available to support sustaining capex requirements. We can then benefit from capital growth with a business that is stronger fundamentally, which could look to issuing dividends later on.

[discodave4] 29/10/2016 12:28

Christmas 6pMarch 9p June 12p to 15p tops.If not 9p or more by March then I will call it a day.Based on the past, something negative will always come out of the woodwork!.DD

[discodave4] 29/10/2016 12:17

KB2Thanks, gives me a better feel as to what/how you think this will go.Not being deliberately argumentative but still can't see it tbh. If it's worth 6p now with £2m pbt, then mid teens with everything going to plan and it's all tickety boo would seem more likely IMV...........but that would do me!.Would not call anybody's views on this board an "obsession" just because they are contrary to my own.......we each see things differently that's all. Strange turn of phrase given it's a subject relevant to GDP as is the TSF, the CIL, Kili, South America, etc.DD

[russman] 29/10/2016 10:10

2012 - Initiate a progressive dividend policy.
As Gerard says "typically a difficult period".

[kimboy2] 28/10/2016 23:49

DD4
One of the main drivers I expected was the stock dam and in January 2016 they said they thought all the work would be done by May. Well here we are nearly in November and they are no nearer, apparently.

I was hoping this would yield perhaps £2m pbt. It is still there of course, just not contributing yet.

Then there is the CIL. I am expecting up to £1m pbt from that when it is at full capacity, which looks around March time. I expect us to be close to 8p by Christmas as long as we get a positive announcement on it prior to Christmas.

IMV once those two come in we will be in the high teens.

Then there is further expansion at Kili, expansion at Tema and whatever these South American contacts come up with in terms of cheaper material.

There is of course execution risk on all of this as well as unknown unknowns coming out of the woodwork. I am more concerned about that than RR which everyone else is obsessing about.

Anyway that is the logic of my position, and a difference of opinion makes a horse race of course.

[discodave4] 28/10/2016 19:50

KB2Don't personally expect it to fall to 2p but who knows.Before the July RNS you were expecting the share price to be 20p by the end of the year (I assume when you posted this around June time that you meant end of the FY). Given you think it will be 8p by Dec/Jan are you still expecting 20p by June?. Just curious, as this would mean you expect it to go up 2.5 times in 6 months from Jan (about +18% per month compounded), can't see it at all I'm afraid, not if the last 3 months or so are anything to go by. Pre the RR issue the max it went up in 6 months was 50%.Also curious as to what news do you think will start to get this moving?.Do welcome your thoughts, as I make no bones about it, I do want to sell soon and if there is a realistic chance of breaking even by March/April then may hang on a while longer.DD

[shareholder7] 28/10/2016 15:54

Probably right guys just disappointed about all of this

[michaelfenton] 28/10/2016 15:23

Kimboy2 you are right and you used the word rediculous (spelling?) The arbitration process will decide whether we get paid or not and that will be that. To suggest that things will collapse if things do not go our way is patent overreaction.

[kimboy2] 28/10/2016 14:42

Well I think that saying we are back to the 2p level if the Rand Refinery inquiry goes against GDP is ridiculous. For a start I suspect that any result of the inquiry will be confidential. Both parties have too much to lose for others rake through the arguments and results.

As for cash and creditors being a snapshot, so it is. However there have been clear investments, and more to come, and they will yield significant results well into the future.

[sea7] 28/10/2016 14:40

shareholder,

If it didn't go gdp's way.

I think it would be a bit drastic and an overreaction if the share price went down by 66% off the back of less than 0.5p per share of cash not being recovered from a disputed amount on one job.

As for counter claims, this dispute is in the arbitration stage, which is a requirement of south african courts, so that everything that can be sorted out, is done so. This would only leave sticking points to proceed further.

This is a dispute over treatment charges and nothing has been committed to the courts as yet.

Depending on the outcome of the investigation, an agreement may be reached without the need to go any further.

As we do not know the specifics and are unlikely to, all we can do is wait for the outcome.

This silver sulphide contract was meant to strengthen the relationship between both companies, as the contract itself was a show of co-operation. This dispute over the prices, is disappointing to say the least.