Goldplat Share Discussion Threads

[sea7] 20/6/2017 10:56

in the april update Gerard stated "continued reduction In losses at kilimapesa"

This article is dated 5th May and they reference "turned it around to achieve profitability"

good sign in my view.

[sea7] 20/6/2017 10:48

mining mag have run an article on kili, however, I cannot access it.



I can only see the following...

How Goldplat has turned around the Kilimapesa project to achieve profitability

[sea7] 20/6/2017 10:42

yep, one thing that will hold price rises back is the fact that the current p/e is shown as 12.77. When the next set of results are published which show the increases in profitability which we are expecting, then it will take a higher share price than the one we currently have to show a p/e of 12.77 again.

[kimboy2] 20/6/2017 10:39

I think anything between announcements is just noise and sentiment. Surprisingly GDP seems to operate a very tight ship informationwise.

Having said that I think it is significantly undervalued in view of information already released, but I would wouldn't I.

Still waiting for the Kili 2 crusher news. I suspect we may be getting a wider RNS about the Ghana elution and capex.

[sea7] 20/6/2017 09:29

volume has picked up a bit today. Despite advfn not displaying non order book trades, I can see from another site that we are at 235,370 buys against 2,450 sells.

[sea7] 19/6/2017 15:50

Despite the LSE not displaying non order book trades today, due to an issue they are having, there have been 103992 shares traded so far today, all showing as buys.

[sea7] 19/6/2017 15:06

yep, most SA miners sold off on the back of that charter, which will now be mired in talk, debate and court room time, to ensure that it is watered down or dragged out.

As we can see, goldplat is fairly insulated from it, by still having the same bee partner.

[wigwammer] 19/6/2017 14:57

My guess is the recent fall was caused by one person overreacting to this.They may have difficulty getting back in at their exit price.

[sea7] 19/6/2017 14:51

Last year, the outstanding amount due to goldplat by the BEE partner reduced by £86k. They still have £1.27m to pay from their share of the pro-rata dividends. It took long enough to just about clear the first 15%. If the business does well, then Goldplat will recover more of the loan they provided to Amabubesi for this, in the first place.

It took them until june 2013 to get down to only owing £219k for the first 15%.

As at june 30th 2013, after transfers, adjustments, the balance owing was £1,960,000. This included the amount for the next 11%.

As at June 30th 2016 the balance was £1,271,000.

Between June 2013 and june 2014 they cleared £512k
Between June 2014 and June 2015 they cleared £91k
Between June 2015 and June 2016 they cleared £86k

It will take some time for this to be cleared.

[kimboy2] 19/6/2017 14:46

IMV the new regulations, if that is what they become, will have a marginal effect on GDP. It also looks as though they will be several years coming into force, if at all.

There was at one time talk of a fundraising, potentially in connedction with a new mining venture. It occurred to me that NDT coming on the main board, in addition to the GDP SA board, may have been related to that.

That may be a way to raise cash and solve and potential BEE issues.

[dangersimpson2] 19/6/2017 14:41

As far as I can see Goldplat still have their 26% BEE partners so the maximum risk to GDP under the new law is 4% of Benoni. Isn't the major issue with the new law that it doesn't count historic transactions. So you have companies where the BEE ownership was sold down after divestment by the BEE holders so these now have zero BEE ownership through no fault of the company and they are being asked to cede 30% again. I don't think GDP have that risk.

[wigwammer] 19/6/2017 14:40

Well, that's a £2.1m asset I'd forgotten about.

[pog1234] 19/6/2017 14:26

Well, they paid 0. The consideration will be paid by the companys own cashflow via dividends... still not paid in full.

[wigwammer] 19/6/2017 14:24

Really? Last time this happened BEE paid a significant premium to the market price to increase the position. 24 April 2014 Goldplat plc ('the Company') Goldplat Recovery South Africa - 100% BEE Transaction Update Goldplat plc, the AIM listed gold producer in Africa, is pleased to announce that its South African gold recovery subsidiary, Goldplat Recovery (Pty) Limited ('GPL') has signed a binding Memorandum of Agreement ('MoA') with its Black Economic Empowerment ('BEE') partner Amabubesi Property Holdings (Pty) Ltd ('Amabubesi') to increase Amabubesi's interest in GPL from 15% to 26% as required by the South African BEE legislation to be in place before 1 May 2014. The terms of the MoA will see Amabubesi acquire a final 11% interest in GPL for a total consideration of ZAR 29,503,483 (GBP2,107,392), with a 10% upfront cash payment on completion. The remaining 90% will be Vendor Financed by GPL with Amabubesi repaying the loan using its pro-rata dividends. This transaction values GPL at ZAR 268,213,481 (GBP19,158,105). Goldplat's CEO Russell Lamming said, "We are delighted to have signed this binding MoA with our BEE partners, ensuring our market leading South African gold recovery operation is 100% BEE compliant well in advance of the 1 May 2014 deadline. Amabubesi have been very supportive shareholders since their initial acquisition in 2008 and we look forward to continuing this relationship into the future. Interestingly, the transaction, which values GPL at approximately GBP19 million, gives a current see-through value for the 85% of GPL we own of circa GBP16 million or a Goldplat share price of 10p. Taking into account the fact that GPL contributed less than 50% of the group net profit in the last financial year, this highlights the inherent value of Goldplat as a whole."

[pog1234] 19/6/2017 07:58

Not looking good in SA:

[sea7] 18/6/2017 12:41

Yep and good management.

[wigwammer] 18/6/2017 12:33

You are right to try and change your username, crazeee dan.Speaks volumes.

[kimboy2] 18/6/2017 12:00

...and to good management.

I think that they will be using some of this cash flow (and debt) to build a stockpile of material at Ghana. Once fully operational they will need 20kozs pa.

[sea7] 18/6/2017 11:41

I remember that KB, the tolling at one point represented 55% of revenue in Ghana.

My point is that it is reducing the overall risk to revenue by not having Ghana product going to south Africa and having the elution column in place.

The incinerator section back then only accounted for 10% of revenue.

They lost the tolling and CIL section at around the same time, decimating the business with a loss of 90% of revenue.

The fact that it is growing again and returning to profitability is a testament to the underlying strength of the remaining business there.

[kimboy2] 18/6/2017 10:42

Ghana isn't exactly free of political interference which is why they lost the tolling operation. That was one of the major factors in the downturn in GDP's fortunes.

The major benefit is that it will put between £1-1.5m on the bottom line.


Profit (£m) Date Project Cost (£m) SA Ghana Kili Central Feb-17 3 1.2 0 -0.7 Apr-17 Kili stage 2 0.8 H1/18? Kili stage 3 0.5 1 H1/18 Ghana elution 1.6 1.2 H1/18 Ghana equip 0.4 H1/18? Stock Dam 0.5 2 H2/18? SA elution 1.6 1.2 Tax/minority -2.9 -0.5 -0.5 Post tax profit 3.3 2.3 1.3 -0.7 6.2





Post tax profit EPS p/e 5 p/e 8 p/e 10 p/e 12 1 0.58 2.9 4.64 5.8 6.96 2 1.16 5.8 9.28 11.6 13.92 3 1.74 8.7 13.92 17.4 20.88 4 2.32 11.6 18.56 23.2 27.84 5 2.9 14.5 23.2 29 34.8 6 3.48 17.4 27.84 34.8 41.76

[sea7] 18/6/2017 09:58

Tks kb for the views.

The sooner they can get the elution column into Ghana the better. As they send concentrate to aurubis and may have been eluting some at benoni, the eluting in benoni
part puts revenue from Ghana into the benoni plant of which we may be seeing more of the profits going to the BEE partner if the company has to cede another 4%.

In my view the less reliance on the SA plant by the tema operation, the better. Kili already elutes on site and sends directly to aurubis, so it will be good to get Ghana in this position as well.

I think the political meddling in south Africa is strengthening the case for international expansion even more than it was.

[michaelfenton] 18/6/2017 09:36

Thanks kimboy always good to hear your estimates.I have been squirrelling away a few more at this what looks to me a bargain price on forwards earnings?

[kimboy2] 18/6/2017 08:38

We are virtually at the year end which will mean an operating update in about 4 weeks and hopefully a Kili update before then including the investment plans for the coming year.

I would expect operating profit for the last year to be about £2.8m which after tax and minorities will leave a post tax of about £1.4m. This will give an eps of about 0.8p

Next year will show the benefits of the investments with a loss of £0.7m on Kili in H1/17 being turned around into an annual profit of around £0.7m. I reckon that operating profit may be pushing £5m, presuming they get the Ghana elution column up before Christmas.

That would give an eps of about 1.7p for 2017-18

I would like to think that they will start doubling up on some of these investments. Perhaps getting Kili stage 3 going before Christmas along with the Ghana elution column.

They may however continue to buy in South American material and, who knows, that may be the profit maximising option. I very much doubt that they will be about to tell us profit margins on this stuff.

[1rodson] 18/6/2017 08:18

Now they resort to talk to themselves they even bring in the biggest crying baby on these BBs w has never gotten over his losses on the crooked share disco Dave really make me laught.

These clowns are not drawn posts from me, they are too thick to see that I am enjoying exposing ...THE FRAUD KNIW AS GDP THAT HAS COST SO MANY DO MUCH.

AND NOW THAT THEY HAVE DRAGGED ME IN HERE I WILL CONTINUE TO DO SO HERE AND ON OTHER BBs......THE PUNTERS MUST BE WARNED.


LOOK HOW FAR THE PUMPERS and DUMPERS WILL GO WHEN EXPOSED.

THESE ARE ABOUT THE LOWEST OF TGE LOW AND MILLER IS NOT HERE TO COUNTER.




THE POINT HERE IS ONLY THAT S7 and Kimboy have been exposed as RAMPERS AND PUMPERS and DUMPERS.

OF COURSE THEY ARE SQUIRMING NOW HOPELESSLY GRASPING AT STRAWS BUT THE MESSAGE IS STILL NOW MATTER HOW THEY TRY TO DRISTRACT




PUNTERS BEWARE GDP IS DEAD IN THE WATER......LOOK AT THE TRACK RECORD AND WHO HAS BEEN PERSISTENTLY RAMPING IT UP THEN SELLING AT HIGH POINTS.

[sea7] 17/6/2017 19:49

Hi DD,

tks

I did have both names on filter, however, I took rodson off to see what was said, straight after my post. It just confirmed what I already knew. They are one in the same person.

They are back on filter now!!

It was like taking candy from a baby though, getting a response from miller!!!!