Goldplat Share Discussion Threads

[shareholder7] 14/12/2016 13:33

Just my view Sea and what I picked up though hear say but I am happy with the info Saying invoices means nothing and does not explain what this issue is Maybe time for GDP to come clean and explain this in more detail to their shareholders But as Kimboy said it's time for me to leave

[russman] 14/12/2016 13:32

According to you GDP is up against RRs shareholders & unknown 3rd parties.May win the battle but lose the war.

[sea7] 14/12/2016 13:10

from the accounts...

Although a dispute has arisen between the two companies regarding payments against certain invoices, Goldplat is confident that the dispute will be resolved in FY 2017.

and

Trade and other receivables for the Group include a balance of £679,000 which the customer is disputing. A process of investigation has been agreed to with customer regarding the toll treat agreement entered into and the resultant processing of their silver sulphide material. Based on legal advice received, management are comfortable that the balance will be collected.

[sea7] 14/12/2016 13:03

I asked Gerard about the dispute with rand months ago, all he would say was that he felt let down by rand refinery over the dispute and that entering into these contracts was meant to strengthen the relationship between the two companies.

[kimboy2] 14/12/2016 12:57

So the problem is that the grade wasn't what they expected and needed further processing?

[shareholder7] 14/12/2016 12:54

Thanks DD and Kimboy RR bought waste material themselves to process but never got around to it They have loads on site that they ownSo they asked GDP to process it for them and if successful they would be more contracts Unfortunately the silver the got back was not the quality they thought they should had It's nothing to do with processing cost invoices So GDP should not have entered into an agreement with RR if there would have been any doubts about this contactSo then if you can't do a win win deal then no bid My point is that they don't have any experiences negotiators / management and if they do the same in South America plus Kili then what is the future I am sorry to say that mad Dan has been right all along

[discodave4] 14/12/2016 12:33

shareholderWould wait a while longer, may be an operational update in the next couple of weeks with news on RR (hopefully).If not will be joining you in the new year.My BE is a lot higher than yours but after 4 years enough is enough.DD

[kimboy2] 14/12/2016 12:27

Rand Refinery acts as an agent only and never takes ownership of any metal. Metal will be refined or smelted and sold into the bullion market on the customer's behalf.

[shareholder7] 14/12/2016 11:42

Thanks for the advice Kimboy

[kimboy2] 14/12/2016 11:18

Well I don't think that RR can close GDP down. The fact is they withdrew services for ages and GDP survived and got alternative routes. The alternatives have improved substantially since then.

If relationships are so bad why are they carrying on doing business?

Don't see the relationship between RR and South America deals or Kili. Kili is being sorted.

If I was as negative as you I would sell.

[kimboy2] 14/12/2016 11:10

I haven't contacted GDP about RR. I didn't think they would tell me much and I didn't think it that important.

What have you been told about the dispute?

[shareholder7] 14/12/2016 11:09

There is no love lost between GDP and RR and this is the problem RR can close down GDP at any time and then it's off to Germany GDP need to fix the relationship but unlikely now This is the major issue with GDP and why it's such as risk If you can't deal with your number one business partner that lives next door then the chances of doing deals in South America and sort Kili is slim Might take a loss at 5p and move on

[shareholder7] 14/12/2016 11:01

Kimboy you are way off, do some more digging and email GDP to ask who owns this material and how long it has been at RR site

[kimboy2] 14/12/2016 10:36

On the RR dispute I thought it somewhat odd that the independent investigator would put his report to GDP & RR and then they had to resolve the situation. Normally in this sort of conflict resolution he would make a decision as to what should happen and both sides would accept it.

What I think may have happened is that the independent investigator has been asked to determine the facts. Once that has happened RR will go back to the third party who owned the ore and get them onside, assuming the facts support GDP's case.

ISTM that GDP may be doing RR a favour by adopting a relatively low key approach so that RR can try and keep their customer happy.

It may be that RR agree with GDP but have to be seen batting for their customer.

It may also explain why the expect the problem to be resolved in FY17 yet they get the report in December.

[shareholder7] 14/12/2016 09:40

Interesting how the MM work One buy at 5.45 and they mark the share downMy guess is there is another large sales order that they are trying to fill and need a few more mugs to buy Oh well long way off 7p I think

[discodave4] 13/12/2016 22:43

Didn't think you would understand, oh well. Merry Christmas to you too.Just a final question, how come you understand shareholders strategy and views but not mine yet they are the same?mmmmm, strange. Wouldn't have anything to do with only feeling brave enough when challenging a minority poster?, don't bother answering, I know the answer already.DD

[wigwammer] 13/12/2016 22:19

Inconsistent or otherwise, no one can doubt your views are CHUFFING important, DD.Merry Christmas to you, and let's hope your very serious and cunning strategy bears fruit in the new year.Best, ww

[wigwammer] 13/12/2016 20:23

So the shares go up under either scenario, but your intention is to sell regardless.I won't be the only one struggling to grasp your point, but this board is full of polite and accommodating people (who probably got bored arguing with you in the past).Best wishes with your cunning strategy.

[wigwammer] 13/12/2016 16:51

Kb - the shares took an immediate hit post the RR news, and I suspect they will get knocked again if the write off is confirmed. But the point is - the price already has moved and there is a valuation gap to be filled in the event the news goes their way (which in my view, is the more likely outcome).From the current price level, the RR situation is neither good or bad for the marginal buyer. Yes - there is more uncertainty but they are already compensated with the lower price.

[wigwammer] 13/12/2016 13:45

Kb - the market has already sneezed -from this point on it could go either way. Agreed? Dd - so to clarify, you no longer believe the RR dispute will have a lasting impact on GDP's business?

[discodave4] 13/12/2016 13:24

WW" I accept the dispute is a negative and the shares have moved accordingly"So you agree with me.What are you on about, the fact I included the word "future" is in your mind not being consistent - tomorrow is in the future is it not.Grow up.DD

[kimboy2] 13/12/2016 13:07

The 13.5m rand is now worth nearly £800k. Not to be sneezed at. Indeed nearly 9% of market cap.

[wigwammer] 13/12/2016 13:00

"As posted before, it's not the monetary impact, it's the negative message the RR issue sends out, to existing/previous/future customers not to mention investors."Please give a sh1t enough to make your points consistent, otherwise someone might point it out.