Goldplat Share Discussion Threads

[russman] 27/1/2017 11:45

But there is a recurring theme.Problems @ RR nearly sank GDP's cashflow.Lets go to Aurubis.Then enter a silver tolling agreement with RR.RR are refusing to pay some invoices.

[russman] 27/1/2017 11:37

Those Rand invoices must be nearly 1 year old.The investment case is cloudy due to previous poor decision making & tardy communication.

[kimboy2] 27/1/2017 11:03

On Migori again they have obviously got their feet under the table. In the prelims:

A new Cabinet Secretary for Mining was appointed and a good relationship exists between Goldplat management and the Ministry of Mining. In addition to this, relationships with the Narok County Governor have been strengthened and new relationships developed with the Governor of the adjacent Migori County, which has significant potential for gold exploration, mining, sourcing and processing of tailings.

In the last op update;

A permit has been granted to purchase and transport tailings from Migori county, where KPG has identified significant quantities of good quality surface material.

I suspect that this material is coming from the artisanals, as shown in the video posted earlier. I also suspect that it is coming from the former Red Rock license area. It may indeed be the case that Kili has been processing Red Rock's resource for years.

Anyway here is Red Rock's report on the license;





These licenses were taken off Red Rock. They started a judicial review but appear to have fallen out with the local administration.

Red Rock say the capital cost of $3m is required to start production and seemed to be working to a bank feasibility study. I suspect if they start with the tailings it will be less than this and that would more then finance the rest.

Hopefully GDP is keeping an eye on it.

[pog1234] 27/1/2017 10:27

Hi Dan,

I think Kili is a wild card, but with great potential. However, it does require quite a lot of cash to develop the mine and many things could go wrong. Just my humble opinion.

I would be very interested if you could please list the reason why developing Kili would be a great investment. You seem to be quite sure of your assessment....

And why do you think we would see 2p again?

[kimboy2] 27/1/2017 09:51

Well at least we can agree that over 6 months after the dispute arose that there is no evidence it has affected trading.

[discodave4] 27/1/2017 09:36

Yet. You can't prove it, your using historical evidence, what trade have they lost and will lose because of it......we know the balance of opinion. It is at the top of the page in the share price "Not bothering anymore KB2, you have no respect for anybody else's opinion. DD

[kimboy2] 27/1/2017 09:25

...but has not affected trading?

[discodave4] 27/1/2017 09:17

Spot on KB2, as hypocritical as ever:.....we know the balance of opinion. It is at the top of the page in the share price Yep, and since the news of the RR issue the balance of opinion is completely contrary to yours, as clearly shown and EVIDENCED by the share price action......don't expect you to accept that though.DD

[kimboy2] 27/1/2017 08:57

I view these boards as an informational exchange. Opinions are interesting but we know the balance of opinion. It is at the top of the page in the share price

The only question is whether the share price is a realistic balance of probable outcomes for the company or based on an irrational emotional reaction by punters.

IMV there is a clear path in the investments the company is going to make to substanitally larger profits. The questions regarding these investments are what is the quantum and the execution risk.

Things can, and do, come out of the blue. The RR dispute is one of them. It is very unwelcome as it absorbs some cash, wastes management time and possibly does reputational damage.

However the trading performance since the dispute arose does not support a theory of great damage being done, nor does it appear to have any effect on the future investment schedule. Unless someone has different information of course.

[michaelfenton] 27/1/2017 08:34

People are either optimists or pessimists - some think the grass is greener on the far side of the hill. Personally and no disrespect to any posters I like the possitivity and research of Kimboy. He argues his corner well and whether you choose to listen to him or not is up to you.

[discodave4] 27/1/2017 08:01

Agree, it's a complete waste of time.Think it will rain today, have no evidence to support that view but speculation and forecasts suggests my opinion may be right - but not in the blinkered world of KB2.Have a good day. May bump into you again.DD

[shareholder7] 27/1/2017 07:53

DD will not post on this board again and leave it to Sea and Kimboy to sing the praises of GDP and how great a company it is.

[kimboy2] 27/1/2017 07:40

I accept you and S7 have an opinion regarding the effect of the RR dispute. I just don't accept that the evidence supports that.

[discodave4] 27/1/2017 00:13

I rest my case KB2.Clearly your incapable of accepting anything anybody else has to say, end of.Please look up the word "speculation", then read the first and last line of your post 3477, then look up the word hypocrite.That's another ten minutes of my life completely wasted on this board........think when a low life troll gets more contributors posting than those who allegedly are open to anybody's contrarian views (speculative or evidenced based), sort of says it all really!.DD

[kimboy2] 26/1/2017 23:45

All I am asking is that some evidence or argument is put forward to support an opinion. For example S7 said in regard to RR;

So no news means it still drags on sucking in management time and money

They can't focus on Kili , South America , Ghana , new cil, RR, issues with mining in Kenya etc etc etc

So what is the evidence for that given;
1. They had their best quarter for 3 years immediately after the issue arose
2. They are still trading with RR, and evidently a lot of others
3. They are pushing forward on kili, Ghana and the TSF in SA

I am not saying what you say is untrue - only that you haven't produced evidence to support it.

[kimboy2] 26/1/2017 19:20

s7
I am sorry if you found it aggressive but I was only asking for supporting evidence. I am interested in any information. RR is obviously taking up some time but it isn't preventing them doing other things, as evidenced by the best quarter for yonks.



This might be of interest;

[shareholder7] 26/1/2017 19:10

See Kimboy as soon as someone says anything negative you jump on them For example what evidence do you have that RR is sucking management time so that they can't focus on Kili or anything else?Most aggressive and puts me off posting Hansie is spending time on the inquiry and I have better information than you do, but I do wonder why I bother posting

[sea7] 26/1/2017 18:24

shareholder,

"Too much going on here for the management to get anything right IMO"

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


I guess it depends which members of the goldplat team has taken ownership of any of the facets of the business.

There is an independent third party dealing with the rand issue, which will require occasional meetings with Gerard and Hansie - as the actual contract has been concluded, this is something that is picked up anytime some sort of progress is made.

Morkel du plessis is the guy in south america doing the sourcing etc and he will report in to goldplat management as and when required.

There is a team installing the processing plant in kenya who will provide regular updates when necessary.

The same applies to gold recovery ghana - there is a point of contact there, who manages the day to day running and reports as and when necessary.

There are hundreds of staff employed by goldplat across the group, who are depending on their jobs for their livelyhood, like anyone else. There is no point being all doom and gloom over the company from the comfort of a keyboard, without remembering that there are people working away each day, taking pride in what they do. Sure things haven't been brilliant, however, look at what they have achieved in the face of adversity.

This board is there for anyone to post an opinion and have it agreed with or disputed.

I know of a lot that has gone wrong at goldplat, however, the analysis showed that all the problems were and are surmountable, which is what made it such a bargain at 1.75p and 2p price ranges.

People can be as despondent over a company as much as they like, thats their choice, however, it won't change the share price, so not much point being miserable about it.

[kimboy2] 26/1/2017 17:54

This board is open to everyone, other than Dan, as far as I am aware.

IMV the ethos of the board is to try and deal with facts or supportable speculation, rather than the 'alternative facts' of the other place.

For example what evidence do you have that RR is sucking management time so that they can't focus on Kili or anything else?

[shareholder7] 26/1/2017 17:21

I have to say this board is now the Kimboy and Sea show who have nothing but good news on GDPUnlike the other board that has Dan and Russman saying how bad things are Maybe someone should start another board that welcomes both sides of the argument Once the RR issue is resolved this will be an RNS in its own right as it will have significant effect on the share priceSo no news means it still drags on sucking in management time and money They can't focus on Kili , South America , Ghana , new cil, RR, issues with mining in Kenya etc etc etc Should have focused on one thing Too much going on here for the management to get anything right IMOI am waiting to see which way RR goes before I reenter

[sea7] 26/1/2017 15:48

I would rather, Gerard release rns's that contain substantive information, rather then a steady stream of "non news"

I had expected an operational update towards the end of this month, so monday is still my date in mind.

[kimboy2] 26/1/2017 14:57

Well it is remarkably tedious waiting for news. It will be 3 months tomorrow since anything substantive, but then again perhaps things can get too exciting.

The next month should be more exciting. If GDP repeats Q1 in Q2 then operating profit will be £1.6m compared to £245k in 2016 and -£827 in 2015. This will be an eps of about 0.5p for the half year.

There are perhaps good reasons to think Q2/17 won't be as good as Q1/17. The gold price has been lower for a start, and secondly there seems to have been a build up of concentrate in Ghana while the license was processed.

The real story is the investments rather than the ups and downs of quarterly results. If GDP is to get to my target of 20p then it needs to be producing something like £4.5-5m post tax profit attributable to GDP.

In order to do that it will need the kili CIL, the stock dam and the Ghana elution column to be operating.

The time schedules for these are;
Kili CIL - phase 1 imminent, phase 2 end of March
Stock dam - waiting for pit clearance, could be anytime
Ghana elution - Long date of June 2018, but expected well within.

For once I don't think they are capital constrained. The total cost after Kili will be about £2m which should be easily handleable.