Goldplat Share Discussion Threads

[kimboy2] 18/12/2016 13:03

They are described as tailings but they are getting more than 7g/t from them. How else do we explain 2kozs from a 1tph processor?

[sea7] 18/12/2016 12:57

sounds right KB,

I would think that the additional support of the artisanal tailings at higher grades will take the pressure off the mine itself, so they are covering the bases with existing resource, artisanal material and expanding the resource as well.

[kimboy2] 18/12/2016 12:55

Well the CIL going in now does 80tpd which is about 2,500 per month. The larger plant is 7tph which ia about 5,000 per month. Presumably that explains the numbers.

On the resource I suspect that they have enough to go at for several years. It may be that they want to open up different areas to ease the pressure and spread the risk, which may require some drilling.

[sea7] 18/12/2016 12:41

The gazette notice shows a proposed 3000 tonnes a month production plant and 6000 tonnes CIL plant



I suspect that they must have a plan in place to increase the resource, as mining by nature is an ever depleting resource that is either replenished or exhausted. Whether resource expansion is put back a bit remains to be seen.

I am expecting to see the plant have more artisanal material going through it from all over the area as time goes by.

[kimboy2] 18/12/2016 11:46

I see it as firstly the CIL, which will change a £0.5m loss into a profit of £0.5m

Next is a new plant which will process 7tph and about 5kozs and cost about £4m. The profit from this may be in the order of £2m pbt.

I presume this would be in addition to the 2.5kozs the CIL will be producing.

The next thing is expanding the resource to the alleged 2mozs. I am not really sure how many years of ore they have to supply 7.5kozs pa. They do not have a reserves number as such but 30kozs in measured and indicated.

That is not counting was appears substantial artisanal material.

It would appear limited incentive to increase the resource.

The next stage looks to be getting agreement with neighbouring properties to form a JV to build a bigger plant. I would be very surprised if this happened. More likely to be acquisitions by one group or another.

[sea7] 18/12/2016 11:18

He says that the long term potential in kenya, is to deal with our neighbours and create a significant mining area on the migori archaean greenstone belt.

So it looks like

firstly increase production and processing output.
secondly increase resource significantly
and the longer term objective as stated above.

The first bit we are expecting news on soon, the second is the work going on at teng teng to start with and the third is the news we have had about meetings with neighbours in migori.

So, all are happening at once and they do seem to have much bigger plans for this area.

News on how they plan to take the pressure off the recovery divisions with financing for kenya would be good.

[kimboy2] 18/12/2016 10:58

Our plan is to move this into operational profitability in this financial year and that will make our shareholders much more comfortable with our long term plan for Kilimapesa.

I have doubted the value of Kili in the past and it made a loss of £624k last year. Certainly life would have been a lot easier for GDP if they didn't have the mining side.

However we are where we are and moving into profit is clearly good news. Hopefully an announcement is imminent on the CIL.

The challenge for GDP is how to finance perhaps £7m of potential capex in the next couple of years on projects with very good rates of return, to make full use of the assets and potential at its disposal.

Once the capex is done then GDP will have a very useful cash flow which can be invested in mining if they wish, and who knows where we will end up then.

[michaelfenton] 18/12/2016 09:45

Yes thanks sea7 a good read and kili is certainly of real interest to us all seeing as it has been such a drain on resources for years.

[sea7] 18/12/2016 09:23

I thought it was quite interesting on kili as well.

[kimboy2] 17/12/2016 23:50

Don't know how you found it but quite an interesting article, particularly on Kili

[sea7] 17/12/2016 23:36

A decent article on goldplat, published November 4th 2016...

Turn to page 71 for goldplat article, runs over pages 71-75.



Extract..

As long as there's mining, we will have business, as they create by products that we process, concludes kisbey-green.

[russman] 17/12/2016 14:37

I am sitting comfortably.Is everybody in?We shall begin.

[kimboy2] 17/12/2016 13:34

I thought the Kili management were going at some stage. The MOU about the acquisition was unflattering.

The proposed acquisition is at an early stage and, if completed, the management it would bring, amongst other things, will have the skills and experience to assume responsibility for managing and enlarging the Kilimapesa Gold mine.

[sea7] 17/12/2016 12:51

The 10% free carry in kenya could be reviewed, which could have a favourable outcome for kilimapesa gold....

Commenting on the 10% government carry, Rainbow Field, director, Kenya at Bowmans, noted: “While certain other countries do have a free carried interest in mining, Kenya’s relatively new industry may mean that giving away 10% for free is slightly premature. We also have a concern that this provision is unconstitutional: the constitution states that a person or company cannot be arbitrarily deprived of their assets without market value payment.”




Bowmans is a member of the kenya chamber of mines and provides legal support when needed.

Its clients include Base Titanium, Acacia Mining and Kilimapesa Gold.

[sea7] 17/12/2016 12:43

I see that Jeff Longstaff, the financial manager at kilimapesa gold has left.
According to his linkedin page, he left two months ago and is back in johannesburg.

[danielmiller1] 16/12/2016 15:56

I wonder why these bums are incapable of holding a sensible debate?

They always do the same, when there are two individuals who share contra views to the herd here then the two automatically become one of the same.

Such a pathetic disposition only serves to highlight the weakness of people like Kimboy who appears incapable of maturity.

[kimboy2] 16/12/2016 15:49

Yes and a very happy christmas to both you and Russman.

[danielmiller1] 16/12/2016 14:48

The element of the all essential trust factor has been shattered. Therefore even if GDP can possibly win what started out to be a minor squirmish the overall war to preserve their credibility may well be lost much to the company and their shareholders' detriment.

[sea7] 16/12/2016 12:43

Its easy to complain about missed timelines from the comfort of your chair.

Sometimes plans are executed as expected, sometimes they are not. Work is in progress, priorities changes based on circumstance. At this time, I see no real reason to be concerned, when I do not have a finite time for my investment here.

[russman] 16/12/2016 12:33

No goodwill left here.Missed timelines.Poor execution.Smokes & mirrors.

[kimboy2] 16/12/2016 09:28

The artisanal tailings are at 7-10g/t which is a value of arounf $300/t. You wouldn't have thought transport costs would be an insurmountable problem.

I haven't seen the state of the roads though.

[sea7] 15/12/2016 21:45

From the accounts..

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.

...............

I can only assume that the tailings they speak of are close to the old plant which is 10km away from the kili mine. The new plant is sited near the kili mine, so I guess they do not want to pay out to ship the tailings 10km, will process the high grade stuff and then tidy up the old site. Then accept new shipments brought to them at the new site.

[sea7] 15/12/2016 21:31

I see goldplat has confirmed its attendance at the mining indaba in cape town next february.