Goldplat Share Discussion Threads

[kimboy2] 20/2/2017 12:59

I had been expecting an operating profit of around £1.2m so £1m is an undershoot. However I didn't account for the 5kozs of GRG gold in containers, nor did I expect Kili to lose £600k in Q2/17.

The Ghanese gold profit will obviouly come through in H2/17 and I suspect that the loss in Kili is producing an ore pile for the new CIL to process.

If these are taken into the equation then the numbers look pretty good.

It was always the investments that were going to drive the numbers. On these the news is pretty good.

Kili stage one completed - profit £0.6m
Kili stage two to be completed in April - profit £0.6m
Kili stage three to be determined - profit £0.8m
Ghana elution column in calendar 2017 - profit £1.5m
Stock dam looks like 2017 - profit £2m

That's how I see it.

[discodave4] 20/2/2017 12:17

Nice numbers.My bug bear - RR still got this by the short and curly's by the looks of it.Can only change repayment terms if the contract is as leaky as the Titanic.....clearly they are, so doesn't bode well for a "favourable" outcome for the silver "issue" IMO.How much is this costing GDP, not just the issue with RR but having to renegotiate with suppliers?.DD

[russman] 20/2/2017 11:55

There was only one surprise.In GDPs public relations offensive.Who mentioned RR had changed their business terms & GDP were talking to clients in order to mitigate.

[sea7] 20/2/2017 10:48

vsa note on website...



Extract...

Additionally, although unrelated Rand Refinery has notified GDP that it has changed its repayment terms. This is likely to affect GDP’s working capital management as Rand Refinery has proposed to extend its payment period. However, given GDP’s financial position we do not believe that this will have a material impact over the longer term.

[wigwammer] 20/2/2017 09:56

Not sure I would know what you mean.Yes, there are stocks out there that trade near all time lows and never appear to move on news flow.But I don't see how a stock that has performed well over a meaningful time frame, driven by positive newsflow, fits into that category.

[nick rubens] 20/2/2017 09:44

wigwammer

Yes, wish I paid 2p.
If you were buying around 13p then you'll know what I mean. It was profitable back then and paying a dividend.

[wigwammer] 20/2/2017 09:17

"I don't what it is but the market never likes this company, no matter how good things seem to be."???It has tripled over the last 18 months.

[nick rubens] 20/2/2017 09:04

I don't what it is but the market never likes this company, no matter how good things seem to be. I can remember years ago when it had a high yield and traded around 10p-13p area and seemed a bargain back then.

But then again, looking at todays mkt price the market was correct to let it yield high as the div was abandoned and the company went as low as around 2p with the gold price slump and operational concerns too.

What is the worry now? A strong increase in Interim earnings doesn't seem to be doing it either.

Current liabilities look high, other than that seems ok to me.

[michaelfenton] 20/2/2017 09:03

sea7 - you are right and it is the right time to attract new investors as re move up to circa 10p later in the year.

[sea7] 20/2/2017 08:29

I cannot believe that miller has stayed up until 3.30 am cuba time for goldplats results. Whilst I have him on filter, he really does forget his lies and time zones.

No doubt he will claim not to be there at this moment in time.

[danielmiller1] 20/2/2017 08:24

Just like predicting a clock, the tock always follows the tick and bingo the early gains have fallen away........the punters have real wised up to this dawgie?

Well done punters!

[sea7] 20/2/2017 08:23

Makes a change to see goldplat open the week as the highest riser on the London markets. Might get the attention of a few new investors.

[sea7] 20/2/2017 08:22

They have settled on the sum of £58k in response to preliminary findings by the KRA on tax years 2010 to 2013.

[kimboy2] 20/2/2017 08:07

On the cash position they have 5kozs from Ghana that was sitting in a container which will come in during H2/17. They may also have a repayment from Kili of some/all the loans.

GDP could be fairly flush with cash in a couple of months.

[danielmiller1] 20/2/2017 08:07

Really great to see GDP Turn in a good profit as they are gonna need the cash to meet the Rand thingy and their tax deficiencies etc etc sadly they will not hang on to any share price increase

[sea7] 20/2/2017 08:04

Cash position at end period £885k compared to £729k at end dec 2015. They had £2.1m at end june 2016 and Gerard alluded to the fact that this cash position contained a lot of payables. So along with capex the cash has dropped as we expected.

During the period they spent £1.1m on property, plant and equipment.

The cash position also contains a £50k bank overdraft for cash management purposes, so really it is £835k.

The net current asset value has increased to 2.18p per share from 1.57p per share at the end of the same period in December 2015.

We have over £9.6m precious metals on hand and in progress.

Pretty good at first glance.

[michaelfenton] 20/2/2017 08:01

Thanks Kimboy2 you are as usual quick of the mark and clear. Yes looks like Rand are as you sat sulking. 6 monthlies a bit dissapointing but since then things seem to be progressing rapidly? All in all I am happy.

[empirestate] 20/2/2017 07:58

cheap at current sp, on a prospective p/e of 5 for this year.

[kimboy2] 20/2/2017 07:47

Lots of things going on.

On first reading I notice that Rand seem to be sulking. Presumably they are going to lose their case.

Also notice that Kili made a thumping loss of £0.712m. As we know this has now been reversed and it is operating profitably, and even more profitably once stage 2 completed.

Looks like they intend to take debt on to Kili now it is profitable. IIRC the debt is around £4m to GDP so should provide some finance for plenty of projects.

Payables are also booming which suggests plenty of stock in process.

[pog1234] 20/2/2017 07:33

Interims out!! profit before tax of £1,334,000