Goldplat Share Discussion Threads

[kimboy2] 08/4/2017 11:54

Hi DD4
The loan is not being used for drilling and taking quotes out of context does not prove a non existant case. The full quote is;

Aside from the current operational initiatives, talks with potential investors or joint venture partners continue, primarily with the aim of procuring additional resources within the region and for further exploration drilling to increase the resource on Kilimapesa's exploration permit.

I can see why you didn't want the full quote as it makes clear that investors rather than debt would finance any potential drilling.

Why are you distorting the truth in order to de-ramp. Is that any better than Dan?

[discodave4] 08/4/2017 11:52

PS and the RR issue was nothing to worry about!!..........pmsl, so naive and blinkered........should add IMO.

[discodave4] 08/4/2017 11:29

Shouldn't bother shareholder, have the paid GDP Rottweiler on filter as all he does is try to belittle any views made which are not sufficiently ramping the stock - after all it's become increasingly obvious that's what he's paid to do. My guess is he has picked each and every point you have made and tried to twist them into positives or flat out dismissed them or asked for proof.......that's all he did everytime I posted anything.......sad really........"and for further exploration drilling to increase the resource on Kilimapesa's exploration permit."Your spot on, the loan is not enough now, they are not generating sufficient cash, they will either have to increase debt or parts of their plans will have to be put on hold........wonder which, South America?.DD

[kimboy2] 08/4/2017 09:17

Don't see any mention of drilling. Presumably you believe drilling is a negative which is why you are raising it.

The money will be used, in addition to a run rate cash flow of some £2m+, towards financing purchasing material in South America and the elution column in Ghana.

Q3/17 will be good and there is no reason to think that Q4/17 will not be better still. There will be the benefit of stage 2 in Kili and stage 1 will be able to operate with full grade material.

The loan is a positive development when it brings forward developments of a p/e of less than 1.

[shareholder7] 08/4/2017 09:05

KimBHave a read of the RNS "To date, the processing plant expansion at the Kilimapesa Gold Mine ("Kilimapesa") in Kenya has been funded out of internally-generated operating cash flows. With stage one of the expansion commissioned, the Company has decided to arrange the Loan Facility to recapitalise the group's subsidiaries that have financed the work to date, and to fund the expenditure of stage two of the processing plant expansion. Stage two is expected to increase gold production at Kilimapesa from the current stage one 60 tonnes per day to 120 tonnes per day, with a target of achieving an annualised production rate after stage two of approximately 4,500 ounces of gold"So paying back SA for the money it has loaned plus using the balance to continue drilling holes I would think now with the litigation this 2m plus interest will be used up quickly and they will be looking for more funds soon Q3 will be on track but Q4 could be a different story

[kimboy2] 07/4/2017 23:00

DRD Gold in its 2016 AR says;

Following the adoption of a new Enterprise Resource Planning (ERP) system in 2013, Rand Refinery Proprietary Limited (“Rand Refinery”) identified an imbalance between physical gold and silver on hand and what Rand Refinery owed its depositors and bullion bankers per the metallurgical trial balance. Rand Refinery’s investigations have to date not determined the root cause of the imbalance. Various corrective measures have subsequently been implemented to improve Rand Refinery’s operational performance.

As a precautionary measure following the challenges experienced by the implementation of the software system, Rand Refinery’s major shareholders have extended Rand Refinery an irrevocable, subordinated loan facility of up to R1.2 billion. The facility is convertible to equity after a period of two years. DRDGOLD declined the option to provide funding on a pro-rate basis with other major shareholders which may result in its shareholding being diluted, if the funding provided by the other shareholders are converted into equity. During late calendar year 2015, Rand Refinery drew down R1.02 billion on the shareholders’ loan.

Management therefore maintains its conclusion reached during the year ended 30 June 2015 that the estimated fair value of the investment in Rand Refinery shares is zero as at 30 June 2016.

[kimboy2] 07/4/2017 22:48

Those figures may be equity adjusted. The Sibanye AR says;

Rand Refinery recognised losses during the year as a result of inefficiencies in processing by-product stockpiles.
The carrying value of Rand Refinery remains an area of estimation and uncertainty.

The numbers they give which are I think the full numbers;


Million Rand 2016 2015 2014Revenue 903 1,021 377Profit/loss (352) 346 (299)



I hope when GDP win the case RR is in a position to pay.

[kimboy2] 07/4/2017 22:25

I have been trying to find information on Rand Refineries financial position.

The Anglo Ashanti AR isn't exactly forthcoming on the subject though it does say;

During 2016, a partial impairment of R186m on the shareholder loan was recognised after considering the current financial position and operating results of Rand Refinery (Pty) Limited.

I think the figures for RR are;

$M 2016 2015 2014 Revenue 30 53 39 Costs (38) (45) (57) Tax (1) 4 1 Profit/(Loss) (9) 12 (17)





ISTR that the loan had to be repaid on 31/12/16 but clearly they were in no position to do so. They were technically insolvent but obviously supported by their shareholders.

I did ask the question a while ago whether RR was in financial sticks and that was motivating the issue. I got trolled out a bit but IMV it looks as though RR is in some turmoil.

An easy way to improve your figures by $1m if you are desperate.

[sea7] 07/4/2017 21:32

grow up miller ffs.

[danielmiller1] 07/4/2017 20:55

GDPers BEWARE LOOKS LIKE RAND IS UPSeT AND NOW WANTS A FIGHT TO THE FINISH

[danielmiller1] 07/4/2017 20:53

BE HONEST HERE GUYS THEY ARE UNLOADING AS THEY KNOW THE DAMAGE THIS LITIGATION IS GOING TO INFLICT.

DAN does not go in for rumours but there is a strong one floating around SA that will now not be satisfied until they feel they have to do what they have to do.

Looks like a blood bath is brewing....but as always DYOR.

OH YES I ALMOST FORGOT lololololololololololol silly me.

sorry but I ignore STUPID PEOPLE WHO NEVER LEARN. S7 will get the message sooner or later., probably later as he is a bit sLow...we should really pity the poor sod he is obsessed with DAN.

[danielmiller1] 07/4/2017 20:51

BE HONEST HERE GUYS THEY ARE UNLOADING AS THEY KNOW THE DAMAGE THIS LITIGATION IS GOING TO INFLICT.

DAN does not go in for rumours but there is a strong one floating around SA that will now not be satisfied until they feel they have to do what they have to do.

Looks like a blood bath is brewing....but as always DYOR

[sea7] 07/4/2017 18:38

Yep, they could be continuing to unload, after the last rns end march.

They may feel that even though the stock is still below the 10p they paid, it is time to reduce the exposure to the company and they may have been approached for an amount of stock.

[shareholder7] 07/4/2017 17:41

Sea my guess is that it is Fidelity unloading and we will know soon if an RNS comes out

[sea7] 07/4/2017 15:31

I did think that as one is only a few seconds from the other, however, three of them are all late reported trades and the others are not. The times on a few of them seem to far apart for rollovers.

Then again, 750k of buys in 150k lots would normally move goldplats share price. Could be a sizeable seller in the background still unloading.

[kimboy2] 07/4/2017 15:28

It looks a bit like rollovers unless there is a largish sell announced later.

[sea7] 07/4/2017 14:01

750k picked up in 150k lots so far today.

[sea7] 07/4/2017 12:33

fitch cut south Africa to junk

s & p cut it a few days ago.

[sea7] 07/4/2017 12:09

dan is weak and feeble and must respond as he cannot resist, despite saying he wouldn't.

[sea7] 07/4/2017 12:09

Miller copies and pastes his responses as he is too weak and feeble to stand by his word of not posting again.

[danielmiller1] 07/4/2017 12:07

sorry but I ignore STUPID PEOPLE WHO NEVER LEARN. S7 will get the message sooner or later., probably later as he is a bit sLow...p

[danielmiller1] 07/4/2017 12:07

sorry but I ignore STUPID PEOPLE WHO NEVER LEARN. S7 will get the message sooner or later., probably later as he is a bit sLow...p