Goldplat Share Discussion Threads

[kimboy2] 23/2/2017 09:27

We seem to be getting a bit more trading recently as well as some new names cropping up on these boards. They are of course always welcome, though I am not too sure how impressed they will be with what goes on with the GDP BB.

Anyway as long as GDP keeps delivering the goods I think that will right itself eventually.

[kimboy2] 23/2/2017 08:54

Goldplat plc (LON:GDP) Chief Executive Officer Gerard Kisbey-Green caught up with DirectorsTalk for an exclusive interview to discuss the highlights of interim results; both financial and operational, progress on the Rand Refinery & the open-pit discussions, the significance of the gold license renewal in Ghana and the cost & funding of the Kilimapesa project and Ghanaian elution plant



Q1: Now Gerard, Goldplat plc has produced a strong set of interim results, what are the highlights, in your opinion?

A1: Yes, I think without a doubt, the highlight of the period has been the progress at our Kilimapesa gold mine in Kenya where, during the period, we installed the first stage of the new gold processing plant and we commissioned this stage a couple of weeks ago, in February. In Ghana, the highlight was probably the successful renewal of our gold license and in South Africa, probably the progress made both on the Rand Refinery dispute as well as progress on securing the disused open pit for use as a final tailings deposition facility which we’ve reported on before.



Q2: Can you talk us through the financial and operational highlights?

A2: On an operating level, we made just over £1 million, in fact £1,009,000, that’s up well in excess of 300% when compared to the same period in FY2016 at £245,000, it compares very well in fact to the full year figure for 2016 which was £1,172,000. This came from an increase in revenues which were at £14 million for the period and that compares to £10 million in the same period in the previous financial year. Production was up at all of our units, 21,000 ounces in total compared to 17,500 ounces in the previous year.

So, all in all, very good numbers, I think the only number that was disappointing was the gold sold, transferred from Ghana, we had increased production in Ghana but we sold less because we had kept a significant material behind pending the reissuance of our gold license.



Q3: What progress has been made on the key issues in South Africa, the Rand Refinery dispute and securing the nearby disused open-pit for final tailings deposition at Goldplat Recovery?

A3: As previously announced, with the Rand Refinery dispute, both parties, Rand Refinery and Goldplat jointly appointed an independent expert to review the contract and come up with their findings. This was completed during the period and a report has been submitted to the two parties and we believe that the report supports our contention that we executed the contract successfully. So, we continue to expect recovery of the monies owed to us. We are in discussions with the Rand Refinery and we hope to bring this dispute to conclusion in the foreseeable future.

Just moving on to the second part of your question, the open-pit discussions, now there have been a lot of parties involved in this particular open-pit and we’ve finally go to a point where all parties have agreed that sterilisation of the pit is in everyone’s best interests. So, we’re now waiting a directive from the Department of Mineral Resources and then we’ll get into the paperwork of permitting and environmental etc. so we can start depositing in this pit which will be fantastic for us.



Q4: Now, you announced in December that your gold license in Ghana had been renewed, what was the significance of this and for how long is this license valid?

A4: So, the license is a standard three-year licence, the significance really was for Goldplat, albeit that the delays in the reissuance wasn’t from our side, it was purely administrative from the government side and then we ran into the election period but we were very loathed to export material whilst we didn’t have a valid license, for obvious reasons. So, albeit our production in Ghana was up nicely for the period we exported less material so it translates into less sales for Ghana. I’m pleased to report that immediately on the issuant of the license late December, we began the exporting, all of that material was exported in January.



Q5: That leads me on to my final question then, how much has the Kilimapesa project cost, how much will the installation of the Ghanaian elution plant cost and how will it all to be funded?

A5: The Kilimapesa project in total, we expect, will amount to in order of about $2 million when it’s all done. We have, as the market is aware, we’ve been funding within the group, primarily from Gold Recovery Limited & we do continue looking for efficient and acceptable alternative sources of debt capital to enable repayment of goods and services to Group subsidiary companies and indeed to restructure the Group balance sheet.

The Ghanaian elution plant, Goldplat are in the process of costing that but we expect that also, coincidently, to cost in the region of $2 million. Again, we’ve not yet decided how to fund this, obviously to the extent that we can, it will be internal funded, ideally within Ghana but we’ll take a view again on the viability of funding through the various capital markets at our disposal.

[danielmiller1] 22/2/2017 18:22

Yes it sure is @5.5p

The botboy has his life morgaged to this dawg subsequesntly he spends all his days pouring over info to try to ramp it up!

[kimboy2] 22/2/2017 18:03

The truth is out there.

[shareholder7] 22/2/2017 17:41

Tanks Kimboy

[kimboy2] 22/2/2017 17:40

Page 12 of the presentation on the website.

[shareholder7] 22/2/2017 17:38

4 million shares with great info be careful Kimboy

[shareholder7] 22/2/2017 17:22

Kimboy you certainly know a lot wonder how you come across this Was it in a press release on GDP's web site?

[kimboy2] 22/2/2017 17:10

I notice that GDP have secured another blue chip client, with operations over Africa, with a large contract.

[shareholder7] 22/2/2017 16:41

DD Rand have loads of product for processing and this deal was meant to bring the two companies together If they would have pulled this off, more processing would have happened and I would not have been a seller Now RR and GDP don't have a great relationship and egos are at play RR will want to partner with someone else or do it themselves (wait for the reply from Elmboy asking for proof) Do GDP have completion, yes they do So this dispute has effected GDP share price and could push RR to find alternative providers If GDP have to write off £650k that will pull back the gains but as they say they are sure of a favourable outcome but win the deal, lose the relationship We both see this as does Gerard Lets see what happens with the share price in the coming months But as I say good luck to the people that bought in at the bottom but try selling 4m shares in this market Luckily there is one person that is building a stake to take them at the moment Thanks for your support DD

[discodave4] 22/2/2017 16:20

Yep agree shareholder but no point saying so on these boards.Does make you think about why are they seeking customers from another continent - do RR have more influence on potential / existing customers than people think or are they just trying to free themselves from RR's shackles (they appear to have the upper hand with GDP) and expand customer base, time will tell.Will give it another week and see if it starts to drift downwards.All the best. Thanks for your support - the only one, well apart from the entire GDP management (in terms of RR holding back the SP).DD

[kimboy2] 22/2/2017 13:56

Isn't it clear from the fact that they are getting more material to process than ever before that the jury have reached a decision.

[shareholder7] 22/2/2017 13:52

Yes DD and the jury is still out on the RR effect but well done to all that held on

[russman] 22/2/2017 13:39

RR have changed their terms.Are RR playing hardball.Is GDP shipping to Aurubis again.The cashflow is going to suffer.

[discodave4] 22/2/2017 13:35

JonnygruntRamper....hopefully your a man of your word, bye bye.Do accept Kili as you say and agree. Never mentioned Kili.DD

[discodave4] 22/2/2017 13:32

JonnygruntPlease can you post up where I have ever said "I think this so accept it".Always supported my views, which were/are the views of others but will never be accepted on this biased board, and will never be accepted by the resident bully boy KB2.DD

[jonnygunit] 22/2/2017 12:24

No, your posts were countered by someone who's analysis suggested to them that the RR dispute wasn't a huge issue, and who couldn't agree with you that the share price action alone was evidence of anything. You then chose to start the tantrums.

In terms of my view... I take the current rising share price as evidence that we have struck oil at Kilimapesa. Don't call me a ramper or explain why you think that's unlikely, just accept it. If not I fear I may have to dramatically announce the end of my participation on this board (to simply stop posting would do a disservice to the loyal fan base in my head).

Remind you of anyone?

[kimboy2] 22/2/2017 12:04

Perhaps this is best on the other thread.

[discodave4] 22/2/2017 12:02

JonnygruntPlease can you post up where I have ever said "I think this so accept it".Always supported my views, which were/are the views of others but will never be accepted on this biased board, and will never be accepted by the resident bully boy KB2.DD

[discodave4] 22/2/2017 11:39

Jonnygrunt"We as a management team have no doubt that that's been capping our progress in terms of our share price performance".Still allowed an opinion and will post what I like. I did support my views with facts (the share price action as per look at the chart). Just another ramper that can't accept anything negative.DD

[kimboy2] 22/2/2017 11:21

Yes they just have to manage the cash flow. Next year they will produce something like £2.5m to £3m of cash flow. They have Ghana elution ($2m), stock dam (£0.5m?), Kili stage 3 (£0.5m?), working capital build up due to increased revenue and sustaining capex of about £0.5m.

On top of that they are hoping to get some sort of mine somewhere.

If they could get some sort of loans then that would bring them forward. The finances shouldn't be a problem as they have very quick payback periods.

[sea7] 22/2/2017 11:13

The more elution capacity goldplat can get on stream the better in my view.

After the Ghana column goes in, there is still the third one at benoni, awaiting installation as well. This is meant to complete the elution column expansion program.

If they get a capital or debt raising away and restructure the balance sheet as they want to, then we may get to see the third column installed in South Africa sooner than the 2019 timescale we are currently looking at.