Goldplat Share Discussion Threads

[sea7] 20/12/2016 09:30

As the elution plant must be in ghana by 30 june 2017, then we can be fairly sure that the £18k is for prep work for the site area in tema and shipping costs.

The bulk of the expenditure will be post, june 2017, by which time phase one in kili will be complete and fully operational and we should be seeing some movement on the TSF project.

We will be looking closer to 2019/2020 before we see that third elution column being installed. It is meant to be in benoni, however, that could change.

[kimboy2] 20/12/2016 09:12

I think that the elution column they have installed took 6-9 months to construct and I would expect this one to be a bit quicker as they have the experience of the first.

The presentation showed only £18k being spent on installation by June 2017. I would have thought that they will start as soon as cash flow allows, at any rate in March when Kili phase 1 will finish.

[sea7] 20/12/2016 08:56

vsa comment in proactive investors this morning...

Goldplat (LON:GDP)

Goldplat (LON:GDP) has announced that it has received a renewed license from the Ghanaian Government to purchase and deal in gold. The new license is valid for three years and its receipt was expected given GDP’s long operating track record in the region.

The terms of the new license include a 5% royalty on all minerals and a commitment to install an additional elution plant as previously announced. The timeframe stipulated in the license agreement is that the plant should be commissioned by June 30 2018, in line with our expectations. The additional capacity will enable GDP to progress with its strategy of sourcing additional feedstock from overseas and expand the group’s gold output.

The receipt of the license enables a small inventory of by-products which require further processing outside of Ghana to be shipped which will positively impact earnings, most likely, in H2 FY 2017. Despite the recent weakness in the gold price, the shares have remained supported and within their recent trading range and we continue to expect the turnaround at Kilimapesa to support earnings in FY 2017.

We reiterate our Buy recommendation and target price of 11.2p/sh.

[sea7] 20/12/2016 08:47

I would expect to see phase one completed in kenya, with the focus moving to ghana, whilst phase 2 in kenya is planned and financed.

[discodave4] 20/12/2016 08:20

Forget last post, misread it - half asleep.DD

[discodave4] 20/12/2016 08:14

Not the news I was hoping for but welcome nonetheless.Why the 6 months lag though from commissioning to production?DD

[kimboy2] 20/12/2016 08:10

Yes it looks as though they are getting a bit of material from south america.

It looks as though we will have the elution column operational by next Christmas. It will produce an extra £1m or so in profit. The tax will cost about £400k.

I would expect profitability from Ghana to be about £2m when elution column up and running.

[sea7] 20/12/2016 08:00

Nice bit of news regarding the gold licence in ghana and timeline for the elution column.

The line about affected stock held up, awaiting transfer to South Africa, is notable.

[sea7] 19/12/2016 20:31

It is, there are numerous initiatives that I have read about, that are trying to get the govt to support the asgm sector by providing better equipment and training, especially surrounding the use of mercury.

I believe the new mining bill addresses some of the issues.

So many people are engaged in mining instead of farming that, they can not close it down, so they may as well try and clean up the industry and deal with some of the environmental issues along the way.

[danielmiller1] 19/12/2016 20:20

Lolololololololololol

You just can't resist it can you stupid7

Lololoolololoololol

[kimboy2] 19/12/2016 20:15

Yes they were stopped using artisanal material but were then allowed to use it from their license area. Presumably these blokes are digging up their gold.

It surprised me that the new mining bill was so supportive of the artisanal miners. It must be an important part of the economy.

[sea7] 19/12/2016 19:33

Whilst I am sure that Kilimapesa gold will be fairly selective in its acquisition of artisanal material in migori, there does look as though there is likely to be quite a bit of it around...


Artisanal underground mining is inundated with unsafe conditions and practices, yet seven out of the eight sub-counties in the county which has a population of about one million people, is dependent almost entirely on artisanal gold mining.

[wigwammer] 19/12/2016 13:58

"Tardy is the the word that comes to mind. History to date: Problem with Rand. Rand wont take it, hang on ship it to Aurubis. 5 month pipeline oops qtr 1 even. Jackanory." Russman, 17th December last year.Result: shares double.

[kimboy2] 19/12/2016 13:29

Yes it is staring into a psychological abyss. Needless to say I have come to the conclusion it is a waste of time trying to answer their questions.

[sea7] 19/12/2016 13:20

I have never, nor will I ever understand why someone would want to waste their time on a bulletin board that pertains to a particular stock, if all they are going to do is make puerile, childish and meaningless comments.

[kimboy2] 19/12/2016 13:07

Sea - I don't think that he/she is seeking information but trying to create quasi information.

[sea7] 19/12/2016 12:45

Tailings at kili range from 6g/t to 15g/t.

When kili first started up they had stockpiled 5000t artisanal tailings, with deliveries on a regular basis. They did have additional material delivered at 1500 and 1700 tonnes after heavy rains abated. Some of the material was ad hoc others were by contracts.

Almost all the info you seek is in historical RNS's which can be found on the company website.

[russman] 19/12/2016 11:58

Let me guess.There are stockpiles of artisan junk.There is a stock dam.GDP are sending their sourcing team.

[russman] 19/12/2016 11:54

How much grade ore can Kili mine per month - perhaps 3kHow much high grade artisanal junk can be sourced per month - 2k

[russman] 19/12/2016 11:50

How many millions will be invested in Kili - maybe 8.How many t would be processed on average a Kili month - maybe 5

[danielmiller1] 18/12/2016 20:58

see the posts on the other thread. No matter how they try to boost it up looks to Dan as if there is a big cash call coming Care is need here chaps