Goldplat Share Discussion Threads

[russman] 07/2/2017 11:40

Prevailing capital market conditions.Cash is tied up in containers sitting in containers, shuffling to Aurubis or Brazil, unpaid RR invoices.

[kimboy2] 07/2/2017 10:41

Our leader speaks on Directorstalk. ADVFN doesn't like the link thoug.

Says he expects an announcement on the stock dam pit in the short term, so it looks as though they have reached an agreement.

Interims last week of Feb.

[kimboy2] 07/2/2017 10:11

Why is it poor management?

[baronet] 07/2/2017 10:10

decent assets + poor management = Takeover Bid in my book !!!
What could one assume to be a take out price ?

[kimboy2] 07/2/2017 09:42

Interview with VSA:



"Forecasts of £3m EBITDA for 2017 and that implies the stock is trading on 2.7 X 2017 EBITDA which is about half its long term average. So with all this positive news coming out combined with a low valuation makes the stock look really attractive."

[danielmiller1] 07/2/2017 08:01

The only drag has been Shjt poor management.

I see the only reasoning that STUPID 7 can put forward is nursing losses despite him being told I sold at a small gain.

Stupid 7 is so thick. I stated this would go to 4 p having done so why would I want to hold..........just to watch them fall was predicted.

The amount of sells yesterday just about sums it all up.

But the Botboy and his STUPID mate will no doubt keep on ramping

[kimboy2] 07/2/2017 07:50

Stage 3 will be relatively cheap to complete as they already have the mill to be assembled and the crusher. It really only depends on if they have sufficient material to supply it. Perhaps they do have a full time bloke sourcing in Kenya.

Once they have done stage 3 they will have a milling capacity of 400tpd. They will be limited by constraints in other areas. They can then have a series of marginal improvements to increase output.

[neiljoepeg] 06/2/2017 17:50

Surprised not more buys on this news even if it was already predicted months ago. This has been such a drag for years on the group overall.

[wigwammer] 06/2/2017 16:46

"ROCE at Kili to date."Backwards thinking.Why he suggested selling at 2p.Implied valuation of kili within GDP valuation = neg. With a positive ROCE going forward perhaps the valuation contribution from kili will now turn positive - for the first time in GDP's history.

[sea7] 06/2/2017 16:28

I would not be surprised to hear that, as stage 2 is nearing completion and commissioning, that the elution plant in ghana will move to centre stage.

[kimboy2] 06/2/2017 16:23

Well I reckon today's announcement adds £0.5m pa to profits immediately, or about 0.3p to EPS. The shares have gone up about 0.5p or so.

There is at least a further £0.5m to profits to come during April from stage 2.

The fact is that GDP is off the radar which is to the advantage of those who want to buy and can be bothered to look, but frustrating to those who are already invested.

GDP is going to create a decent cash flow for GDP so I am expecting further announcements of investments in the interims. There is the Ghana elution column for a start, which will add another £1m to profits. I can't see why that can't go ahead now with that.

Each investment will add incrementally and eventually the rating will rise to reflect the position of the company, hopefully.

[ironstorm] 06/2/2017 14:45

Well I reckon that confirmation of a good result will show how the business has changed in the last 12 months. That will start the re-rate.

The good news here is all accretive - plus the existing business should do a bit more. Which will start to show half way through the year.

News on the Rand dispute will also help. I think that is factored in at a 100% loss at the moment. I think this dispute is still weighing heavily and I think they need to focus and clear it.

[sea7] 06/2/2017 14:32

POG,

I agree, on the back of the news itself, it will not propel the stock to 10p, however, once we get further along and figures start coming in, then 10p should be a more realistic prospect.

[sea7] 06/2/2017 14:17

It is kb, The fact that there is good news today on a long running, loss making project, which was the failings of the previous CEO, the likes of miller and russman are still pouring scorn on it, which proves beyond a shadow of doubt that they both are nursing losses and cannot bear to see things improving without them.

[camerongd53] 06/2/2017 14:16

Glad to see that the Kili project is progressing and hopefully will be profitable and justify me holding onto shares. I originally bought at about 16p and have bought more and now have a average cost of 7p. If the profits come through as anticipated, I will hopefully be in profit soon after many years (btw I bought Gama Aviation @ 130p in Oct - pity I didn't buy more as up 60%)

Two things that are missing from the update are
1. Production details for period to 31 December and
2. Date for accounts to 31 December - last year they were issued in mid February so they could be any time now. The Kili project could have diverted resources so these may be a bit later this year

[russman] 06/2/2017 14:09

ROCE at Kili to date.

[russman] 06/2/2017 14:07

Due to prevailing capital market conditions.

[pog1234] 06/2/2017 13:58

This piece of news is good, but it is nowhere near enough to take the share price to 10p.. IMVHO! For that to happen I think we need some solid figures delivered....

[kimboy2] 06/2/2017 12:41

Yes a difficult day to be a troll.

[danielmiller1] 06/2/2017 12:18

WELL IT WILL MAKE A CHANGE...BUT BEST LET TIME TELL THEY HAVE BEEN MISERABLE FAILURES TO DATE.

[danielmiller1] 06/2/2017 11:51

that will make a change and will be a big turn around for this dawg company steeped, as it is, in a culture of mismanagement...are you sure?

[wigwammer] 06/2/2017 11:24

"Yep its all very well but can they run it run correctly without losing value."Yes

[danielmiller1] 06/2/2017 11:19

Yep its all very well but can they run it run correctly without losing value.

And I wonder what exactly "in due course means and the end of the announcement. I mean dont they know when they will finish things or is it just another mismanagement job?

Goldplat “Expanding with the commission of the processing plant” Gerard Kisbey-Green, CEO
Goldplat, the AIM quoted African gold producer, have told DirectorsTalk about
the successful commissioning of the first stage of the new processing
plant at Kilimapesa Gold Limited in Kenya.

The plant has a designed capacity of 200 tonnes per day and will consist
of a crusher circuit; mills; a thickener; leach tanks; an elution plant
as well as a tailings deposition facility. The project has been split
into three discreet stages:


-- Stage One: commissioning of the plant excluding the crusher circuit,
which is now completed

-- Stage Two: installation of the crusher circuit and three additional leach
tanks

-- Stage Three: installation of a second mill and a further three additional
leach tanks.


The decision was taken during 2016 to install a new processing plant and
tailings deposition facility, at a site in close proximity to the
Kilimapesa Hill underground mine, to increase production volume and gold
production, decrease operating costs, optimise overhead costs and to
return Kilimapesa to profitability. Due to prevailing capital market
conditions at the time, the Company decided to fund the project
internally, through inter-company loans primarily from the recovery
operations. It was also decided to construct the plant using existing
equipment, and management and skills from within the Goldplat plc Group
where possible. Accordingly, a processing plant at the Company's
recovery operations in Ghana was deconstructed, containerised, and
shipped to Kenya. To provide for two production mills and a spare at the
new plant, two additional second-hand mills were also acquired in South
Africa. All engineering, manufacturing, construction and installation
was completed by in-house teams, with the exception of a few critical
work streams, including the overall plant layout and design work, and
tailings dam design, which were undertaken by outside consultants.

Stage One commissioning began on 23 December 2016 and has progressed on
time and on budget. During the latter months of 2016, a stockpile of
6,000 tonnes of crushed ore was created, which is sufficient to
feed/supply the plant until the crusher circuit and additional leaching
capacity is commissioned. A key cut for the tailings facility has been
constructed and tailings are currently being deposited into a borrow pit
contained within the final tailings dam footprint. Plans are underway to
increase the size of the final tailings facility in the near term to
further reduce costs.

Management is pleased to report, as of the end of January 2017, that
production is at the planned Stage One rate of 60 tonnes per day, which
if maintained, and together with ongoing production from the existing
plant, equates to an annualised 4,600 ounces of gold production,
compared to the 2,005 ounces of gold produced during the 2016 financial
year. At this production rate the mine should be profitable and in a
position to begin repaying loans.

Stage Two installation of the crusher circuit and an additional three
leach tanks has begun and commissioning is expected during April 2017.
At this stage the new plant is expected to process 120 tonnes per day
and once the plant is fully commissioned and producing at steady state,
an annualised rate of roughly 4,500 ounces of gold is planned. The old
plant will continue to produce roughly 2,300 ounces of gold per year as
long as tailings capacity exists, resulting in a potential total
production rate of 6,800 ounces of gold per year.

Stage Three will be planned and commenced based on the performance of
the operation once steady state is achieved.

The new processing plant is scheduled to be opened by the Kenyan Cabinet
Secretary for Mining, Honourable Dan Kazungu, during an official opening
ceremony on site planned for 16 February 2017.

Gerard Kisbey-Green, CEO of Goldplat commented, "I am very pleased with
the Board's decision to proceed with an expansion plan at our Kilimapesa
gold mine, which represents an investment of the order of US$2million.
Although it is modest in terms of production, we believe it will result
in the commencement of sustainable profitability at Kilimapesa. Having
achieved a production rate of 60 tonnes per day, following the
successful implementation of Stage One, I believe we have already proven
that we made the right decision. The team on the ground has done a
sterling job in adhering to schedules and to budget and we look forward
to progressing to final commissioning in ......due course..... Profitability at
Kilimapesa has been a long time coming and I would like to thank our
shareholders for their patience in this regard!"