Goldplat Share Discussion Threads

[russman] 16/6/2017 13:39

& what are the sleeping arrangements with RR.

[sea7] 16/6/2017 08:26

Hi Kb,

I have read the new charter and from goldplats perspective it already has 26% BEE ownership of the SA plant and I think the board at Goldplat SA is not far off that 50% black representation and 25% female representation anyhow. I do not have exact figures.

Obviously this does not apply to goldplat plc.

All that would end up happening here is that an additional 4% of Goldplat SA would end up being transferred to NMT at a cost, to be recovered through the divi.

[kimboy2] 16/6/2017 07:55

Hi Dan
I suspect it will be legally challenged but I don't think the impact on GDP will be great. Indeed it may well be positive if the rand falls as a result.

It shows the wisdom of a diverse asset base though, and all are profitable now.

[1rodson] 16/6/2017 05:09

Oh really just how hard can you hit the poor old shareholders?

What with PUMPING and DUMPING here by S7 and Kimboy now this latest from SA.

CAPE TOWN – The new and final Mining Charter revealed by Mineral Resources Minister Mosebenzi Zwane on Thursday increases the level of black ownership at mining companies from 26% to 30%.

In addition, mining prospecting rights need to have a minimum of 50% plus one share, while companies will be required to give 8% of their shares to workers.

Zwane pointed out that mining companies who already have a 30% black ownership will not be required to restructure their ownership structures.

The newly published charter also requires mining companies to pay 1% to the 30% black shareholding over and above any distributions to its shareholders. “This 1% is to ensure real economic value to these black owners,” Zwane said, but it will be subject to liquidity tests.

New empowerment targets with respect to black representation have also been set. A minimum of 50% black representation at board level will be required, of which 25% need to be women.

At senior management level, a minimum of 60% black ownership is required, while 88% of black ownership is required at junior management level.

The charter also requires 70% procurement of mining goods to be purchased from black economic empowerment companies.

Zwane said the department has listened to workers and communities who haven’t seen real economic benefits from mining activities. “We engaged financial institutions who need to make profit, but also address developmental needs. We also listened to the sector who asked for policy certainty, but also wanted clarity on historic deals."

The black ownership matter has been a bone of contention for a number of years and the Chamber of Mines has in the past spoken about approaching the courts for a declaratory order in respect of the once-empowered, always-empowered principle.

In the previous draft charter, mining companies were supposed to have a perpetual 26% black ownership even if the original empowerment company disposes of its shares.

The chamber has held the belief that once it has met the empowerment criteria they should be exempted from further empowerment obligations.

Considerable unhappiness in the mining industry

The new Mining Charter is bound to cause considerable unhappiness in the mining industry, which claims it has not been properly consulted before the publication thereof.

The Chamber of Mines, which represents 90% of South Africa’s mines, issued a statement on Wednesday evening in which it slammed the process followed by the Department of Mineral Resources (DMR) in drafting the latest version of the charter.

As a result, the chamber opted not to attend a meeting with the Mining Industry Growth Development and Employment Task Team (MIGDETT) – the body that represents the DMR, labour and industry – on Thursday morning. The meeting took place 90 minutes before Zwane’s media briefing to discuss the new charter. Solidarity union also opted to boycott the MIGDETT meeting.

“[The chamber’s] office bearers will not be co-opted into participating in an attempt by the DMR to provide any support into what we believe has been a flawed process by the DMR,” the chamber said in its statement.

The chamber will host a media briefing around lunch time on Thursday to discuss the way forward following the release of the new charter.

Last week at the Junior Indaba, chamber CEO Roger Baxter criticised the DMR for the lack of engagement with relevant stakeholders over the charter. “The DMR unilaterally decided to go its own route,” he said.

Baxter said the “occasional meetings” with individual stakeholders over a lengthy period were no substitute for proper processes that need to precede the publication of regulations such as those contained in the Mining Charter.

Edited by: News24Wire

[1rodson] 16/6/2017 05:03

Oh really just how hard can you hit the poor old shareholders?

What with PUMPING and DUMPING here by S7 and Kimboy now this latest from SA.

CAPE TOWN – The new and final Mining Charter revealed by Mineral Resources Minister Mosebenzi Zwane on Thursday increases the level of black ownership at mining companies from 26% to 30%.

In addition, mining prospecting rights need to have a minimum of 50% plus one share, while companies will be required to give 8% of their shares to workers.

Zwane pointed out that mining companies who already have a 30% black ownership will not be required to restructure their ownership structures.

The newly published charter also requires mining companies to pay 1% to the 30% black shareholding over and above any distributions to its shareholders. “This 1% is to ensure real economic value to these black owners,” Zwane said, but it will be subject to liquidity tests.

New empowerment targets with respect to black representation have also been set. A minimum of 50% black representation at board level will be required, of which 25% need to be women.

At senior management level, a minimum of 60% black ownership is required, while 88% of black ownership is required at junior management level.

The charter also requires 70% procurement of mining goods to be purchased from black economic empowerment companies.

Zwane said the department has listened to workers and communities who haven’t seen real economic benefits from mining activities. “We engaged financial institutions who need to make profit, but also address developmental needs. We also listened to the sector who asked for policy certainty, but also wanted clarity on historic deals."

The black ownership matter has been a bone of contention for a number of years and the Chamber of Mines has in the past spoken about approaching the courts for a declaratory order in respect of the once-empowered, always-empowered principle.

In the previous draft charter, mining companies were supposed to have a perpetual 26% black ownership even if the original empowerment company disposes of its shares.

The chamber has held the belief that once it has met the empowerment criteria they should be exempted from further empowerment obligations.

Considerable unhappiness in the mining industry

The new Mining Charter is bound to cause considerable unhappiness in the mining industry, which claims it has not been properly consulted before the publication thereof.

The Chamber of Mines, which represents 90% of South Africa’s mines, issued a statement on Wednesday evening in which it slammed the process followed by the Department of Mineral Resources (DMR) in drafting the latest version of the charter.

As a result, the chamber opted not to attend a meeting with the Mining Industry Growth Development and Employment Task Team (MIGDETT) – the body that represents the DMR, labour and industry – on Thursday morning. The meeting took place 90 minutes before Zwane’s media briefing to discuss the new charter. Solidarity union also opted to boycott the MIGDETT meeting.

“[The chamber’s] office bearers will not be co-opted into participating in an attempt by the DMR to provide any support into what we believe has been a flawed process by the DMR,” the chamber said in its statement.

The chamber will host a media briefing around lunch time on Thursday to discuss the way forward following the release of the new charter.

Last week at the Junior Indaba, chamber CEO Roger Baxter criticised the DMR for the lack of engagement with relevant stakeholders over the charter. “The DMR unilaterally decided to go its own route,” he said.

Baxter said the “occasional meetings” with individual stakeholders over a lengthy period were no substitute for proper processes that need to precede the publication of regulations such as those contained in the Mining Charter.

Edited by: News24Wire

[1rodson] 15/6/2017 23:15

Look how mean and spiteful this S7 is.

And how he can only talk to his little bumboy......I don't think anyone pays any attention to him.

[1rodson] 15/6/2017 23:13

Rampers and PUMPERS and DUMPERS wil. Say anything to detract from the fact that they have been exposed.

GDP SIs down again today time to watch Kimboy and S7 pump it up a touch.
PUNTERS BEWARE ITS AM AGE OLD TRICK OF THEIRS.

ALSO IF YOU ARE SMART YOU WILL CATCH IN THE RAMPERS HEAVEN CALLED TWITTER.

[sea7] 15/6/2017 23:06

Kb,

Miller has only turned up on this board as he is bored and lonely. He has no friends and no social life. This is his only outlet and it would appear that those on this board are the only ones who engage in conversation with him, although the conversation
has to be kept at the basic level as miller cannot handle anything more than the basics.

I had noticed that the other boards he posts on, his posts are generally ignored by the other posters, who continue their conversations around his posts, as if miller hadn't posted in the first place. I guess most of them have him on filter, yet he doesn't know it, because they do not wish to speak with such an idiot.

He is trying to get attention as rodson, because he has ruined the miller name. He is like a few other dense trolls, they trash one name, start up another, trash that one and so on.

He gives the impression of being the sort of person you would cross to the other side of the street to avoid, in case he tried latching on to you, like some sad case.

[kimboy2] 15/6/2017 17:13

I don't think an email from Manolis is 'the very highest authority'.

Funny that you got one because Dan had one as well.

[1rodson] 15/6/2017 17:09

Tread carefully S7 I have had sight of documented evidence that says the opposite and from the very highest authority.

[1rodson] 15/6/2017 17:06

Kimboy this is the same old line you shoot to anyone who disagrees with you, you have used it so often.

The facts speak for themselves this dead horse is falling just as Dan Miller said it would.

I am enjoying this now exposing the ramping PUMPER and DUMPERS.

Is it not the time for your ramp or is it S7's turn.

[kimboy2] 15/6/2017 16:13

Don't be so inane Dan. You do seem very bitter and twisted these days. I did suggest some time ago that you seek medical help.

Perhaps this split personality thing has only made matters worse.

[1rodson] 15/6/2017 15:28

why Kimboy, real news with this dead cat is always bad news or ambiguous at best!

[kimboy2] 15/6/2017 15:02

Let's hope we get an RNS soon with some real news.

[russman] 15/6/2017 13:43

Maybe Amabubesi are not sleeping partners.

[1rodson] 15/6/2017 13:40

Strange but the ghost of Dan Miller's words haunts this BB. He said GDP would fall and it continues to do so.

He really did know this share despite all the high-powered ramping from the PUMPERS Aand DUMPERS.

No wonder he is not popular here as he posts in the punters' better interests.

[1rodson] 15/6/2017 13:37

Oh I thought it was more like Corbin!

[qazwsxedc69] 15/6/2017 12:55

1Rodson.....the way you write.....very reminiscent of Smeagle/Gollum.

[1rodson] 15/6/2017 12:25

oh dear, the return of S7's bumboy.

read back on here this clown Disco Dave attacked old Dan when he was right at the time over the management then after years, this clown came around to agree with Dan.

Then as I recall he was an expert on Cuban residence or so he thought. Some people just like to make themselves look thick, thicko Dave takes the biscuit in this respect.

Miller Had them all sussed out.

[discodave4] 15/6/2017 11:51

1rodson aka scumbag Miller FILTERED

[1rodson] 15/6/2017 11:19

Look the same old sKit here again with anyone who disagrees with the ramping Pumper and DUMPERS....ON FILTER

It's NOW EASY TO PROVE MY POINT THESE GUYS WILL SAY ANYTHING.

BUT I HAVE CHECKED BACK AND EVERY TIME ALMOST WITHOUT FAIL THAT THERE IS A HIGH PITCHED POST FROM S7 AND KIMBOY THE share price MOVES UP THEN THE SELLERS MOVE IN.

Don't take my word for it check back. These scavengers have been making money on your backs.


BEWARE PUMPERS and DUMPERS ARE ON THE DEFENSIVE.

READ ALL THE POSTS AND JUDGE FOR YOURSELVES.

BEWARE PUMPERS and DUMPERS ARE OUT IN FORCE.


EXPOSED S7 AND KIMBOY AS PUMPERS AND DUMPERS, NO WONDER THEY POST SO MUCH!

[sea7] 15/6/2017 08:14

Anyway, I got fed up of listening to your tiresome, lies and BS under your other name, miller. I filtered that one, so now that I have it confirmed that you are one in the same, I am filtering rodson1 as well.

Bye.

[sea7] 15/6/2017 08:12

Like I said miller, same old you, just a different name.

[1rodson] 15/6/2017 08:08

BEWARE PUMBERS and DUMPERS ARE ON THE DEFENSIVE..

READ ALL THE POSTS AND JUDGE FOR YOURSELVES.

BEWARE PUMPERS and DUMPERS ARE OUT IN FORCE.