Goldplat Share Discussion Threads

[1rodson] 07/9/2017 16:54

Beware beware beware.. A ramp up is building on the pump and dump GDP BB led by Kimboy and S7 don't be fooled into supporting and share price upward movement as its bound to collapse back on you........and you will lose.

[kimboy2] 07/9/2017 16:41

One thing that Gerard half suggested in the CC was separating the mining and recovery operations into separate companies. I would presume that the idea would be to float the mining, possibly in conjunction with some sort of merger or deal.

The present rating of GDP isn't great. I tend to ignore the financing as it incurrs little interest and it is mostly random effects of exchange rates. If we do that then GDP is presently on a p/e of about 10.

I would expect a profitable gold mining operation to be on something like a p/e of 15-20 (is that reasonable). If we assume stage 3 is completed and Kili is producing 10kozs at an aisc of $1k/oz then post tax profit will be about £1.5m.

That would suggest a mkt cap of £20-30m, which would make the exercise worthwhile. Perhaps it would be a good way of raising funds if they found something viable.

They need Kili at a steady state first though.

[kimboy2] 07/9/2017 16:41

Nice movement in the gold price can only help as well.

[russman] 07/9/2017 14:07

Matthew Robinson has extensive knowledge of mining "interests".He is connected but not in s.africa.He will struggle for another fundraise.

[kimboy2] 05/9/2017 15:12

Hope he pays more attention to Goldplat's affairs than he appears to do to his family trust.

[sea7] 05/9/2017 14:22

Brief rns out, outlining the fact that nigel wyatt, Is a beneficiary of a trust which holds 30,950 shares in goldplat, that were purchased before he became involved with goldplat. Only took him four years to realise and notify the company.

[kimboy2] 05/9/2017 11:43

One of the things I don't like about the eps calculation is that it includes finance income/costs, which in GDP's case is little more than exchange movements.

[russman] 05/9/2017 11:37

EPS is the best metric for GDP.But they calc that incorrectly.Should report in dollars aswell.

[camerongd53] 05/9/2017 11:33

Russman

I was the person who highlighted the issue of the incorrect EPS calculation.

EPS is a useful figure and should be used with caution as it can affected by exceptional items and movements from year to year may not reflect the progress or lack thereof in the financial performance. Anybody who relies on the figure solely as an investment criteria is an idiot and that is coming from a qualified accountant!!

In fairness to the finance director, it is a calculation (he only studied to pass exams possibly 20+ yers ago) he does twice a year in which he probably follows a pro forma from the previous periods which has been approved by the auditors. He probably has no reason therefore to believe the figures updated each 6 months are incorrect.

If you want heads to roll, it should be the auditors. They have no excuse for not picking up the error. They are employed to pick up material errors in accounts!

[russman] 05/9/2017 09:50

Last year the headline figure reported was 1942k before tax.
Tax was 534k
Non controlling interests 462k.
Seems clear to me.
Maybe that is why GDP got a new FD.

[1rodson] 04/9/2017 16:32

kimboy thats only what you say...my wife know different

[russman] 04/9/2017 14:40

The error on announcing the correct eps should have been corrected.Otherwise it is a misrepresentation of the accounts.Which the Directors were made aware of.

[camerongd53] 04/9/2017 14:09

Kimboy2
I agree that the results of the Piotroski screening have not been outstanding but they have generally been better than the market. As GDP is starting to appear to be passing the screen test, some analysts may start giving coverage to GDP which can only help the share price.
Looking at the 9 criteria seem to be reasonable strategy for avoiding really bad investments and unless you believe that there is going to be deterioration in a company's position, choosing these companies (or a spread thereof) to invest in should allow you to sleep peacefully at night

[dinky00] 04/9/2017 13:43

How much higher must the gold price go before GDP has a tick up!!!

[russman] 04/9/2017 12:21

Nothing wrong with having a goal of 50k ozs.2011 GDP had a higher target.

[kimboy2] 03/9/2017 08:34

The CC was quite interesting on the expansion of mining question. It seems that there are a lot of possibilities out there and a lot of ways to do a deal.

"I won't say there is nothing on the table, but what we would like to do is increase our mining portfolio to around 50kozs in the next two years" is what he said.

That would suggest to me that a deal is not too far away.

He also metioned whether to keep mining and recovery in the same company. Presumably mining would be higher rated than recovery.

I would be a little concerned that the management would start empire building, however the fact the Gerard has 8m options will I think keep him focussed on not diluting the upside here.

[kimboy2] 03/9/2017 08:07

Dan I am not sure you are in a strong position to accuse anyone of duplicity given that you are pretending to be someone else.

[1rodson] 02/9/2017 11:55

BUT Won't THAT BE JUST THE SAME IF SO ITS TYPICAL OF GDP'S DUPLICITY!

[kimboy2] 02/9/2017 11:40

Yes they said they will restate previous year's eps figures in this year's finals.

[1rodson] 02/9/2017 10:24

GDP NEVER ADMITS TO ITS MISTAKES....THAT WHY THE MARKET DISTRUSTS IT SO MUCH.

[kimboy2] 02/9/2017 07:28

The 9 criteria for the Piotroski score are;

1. Positive return on assets in the current year (1 point).
2. Positive operating cash flow in the current year (1 point).
3. Higher return on assets (ROA) in the current period compared to the ROA in the previous year (1 point).
4. Cash flow from operations are greater than Net Income (1 point)
5. Lower ratio of long term debt to in the current period compared value in the previous year (1 point).
6. Higher current ratio this year compared to the previous year (1 point).
7. No new shares were issued in the last year (1 point).
8. A higher gross margin compared to the previous year (1 point).
9. A higher asset turnover ratio compared to the previous year (1 point).

GDP's current score is 7, according to Sharelockholmes. Not sure how good a predictive measure it is.

Results are due Sept 18th. I would expect that Kili would be the main new news, and hopefully push the button on stage 3.

[camerongd53] 01/9/2017 15:02

Interesting article in today's Investors Chronicle

Algy Hall has reviewed the Piotroski share selection screens for Value shares over various periods and it has generally delivered good results (long term outperformance of index) - not outstanding and sometimes inferior.
The selection is designed to identify value shares which appear to have improving performance and have a good/improving cash position. 9 criteria have been applied.
To me it is not surprising that Goldplat is included in the current list of selected stocks (by screening using various selection criteria)
If Goldplat keeps performing as anticipated, and unless there is a massive upward revaluation, I believe Goldplat is likely to remain in this screen for atleast another year.
FYI I have approx 20% of my SIPP in Goldplat and this article gives me confidence it is a good choice.

[sea7] 01/9/2017 10:38

yep, they have to re run the election within 60 days. A bit more scrutiny this time. It is the first time that a court has backed odinga's claim of fraud in the electoral process.

[kimboy2] 01/9/2017 10:26

Unusual situation in Kenya, to say the least, with the Supreme Court overturning the Presidential election.

I suppose it will add to uncertainty but I find it rather reassuring that the rule of law predominates. Certainly a good example to loads of nasty little regimes.

[russman] 01/9/2017 10:17

Did GDP ever issue a correction to the headline eps figure.