Goldplat Share Discussion Threads

[sea7] 18/9/2017 10:35

miller, you were buying at 16.5p and that turned out to be the all time high - the stock declined after that. I sold at 14p before the high was in.

You were telling people to sell on these boards at 1.75p, when I was buying. You were banging on about how it was not going to rise, it did rise and I carried on buying in the 2's, 3's, 4's and 5's, as I had done in the 4's, 3's, 2,s and 1.75p on the way down.

I had a very low average and took decent profits when the stock moved higher. I was selling in the 6-7.4p range.

That means I profited, whilst you were booking losses. I believe that makes you wrong miller and your posts are on these boards to prove it. We have been along this road before miller and the facts have been laid out before you, however, you are too stupid to accept your own errors.

[1rodson] 18/9/2017 10:28

S7 is that the best you can offer when cornered, be a man admit that you were wrong and Miller was right all along.

[1rodson] 18/9/2017 10:11

LIKE I SAID ITS NOT HOLDING THIS MORNING'S GAINS THEREFORE EXPECT FURTHER FALLS.

[1rodson] 18/9/2017 10:10

I ONLY REFERENCE THOSE WHO ARE RIGHT NOT THOSE RAMPING FOR GAIN AT OTHERS EXPENSE.

MILLER KEPT TELLING YOU THAT YOU WERE WRONG OVER KILI AND IF GOLDPLAT HAD PROPER PROFESSIONAL MANAGEMENT TO WORK AT THE TIME IT WAS BOUGHT THE COMPANY WOULD BE WELL IN PROFIT BY NOW AND NOT THE UNTRUSTED OUT OF FAVOR DEADBEAT IT IS TODAY.

ADMIT IT YOU WERE ALL WRONG AND MILER WAS RIGHT ON.

[russman] 18/9/2017 10:06

At least GDP sorted the eps calc this year.
Kenya seems to have an interesting view of tax.
Maybe GDP should sue their VAT Inspector.

[sea7] 18/9/2017 09:58

rodson/miller

if you were indeed not miller, then you would not reference him in every post you make. This makes you out to be some sort of sad sycophant that slavishly worships miller, or you are miller and keep forgetting it.

I expect the latter, however, the former is an apt description of you anyway.

It was manolis's errors that got the company in the mess it was in and had he not gone into kili in the first place, then the company would not have spent the last decade trying to get it profitable.

[dangersimpson2] 18/9/2017 09:57

With Kili now profitable then that will eliminate £1.1m operating loss going forward.

That means with a similar performance in the recovery operation for FY18 we would be looking at c4m operating profit with Kili at break even or c£2.1m net of tax and non-controlling interests. This would be 1.3p EPS.

Any profit at Kili, elution at GRG, artisanal clean up at GRG, tailings reprocessing would add to that number.

Given that GDP easily beat the VSA FY18 EPS number this year that should lead to a significant upgrade going forward.

[1rodson] 18/9/2017 09:45

I have to laugh at you two clowns Tweedledum and Tweedledee suits you so well.

Dan Miller was the only one here telling you all to follow Demetri and work Kili as the gold was there and it was to be got out with much profit.

Dan also criticised a drunken NEC for his incompetence and also that of the CFO.

Now it's Kili PROFITS THAT HAS SAVED THE DAY.

You two amateur clown were adamant that Kili SHOULD BE DUMPED AND FAST ESPECIALLY KIMBOY.

This proves that you are not fit to post as all you do is to promote your own interests over that of the shareholders.

RAMPING PUMPERS AND DUMPERS DESCRIBES YOU PAIR JUSTLY YOU SHOULD BE REPORTED,

Meanwhile, you can wager that DEAD DUCK GOLDPLAT WILL NOT BE ABLE TO SUSTAIN TODAY'S share price RISE....JUST WATCH IT FALL BACK!

[sea7] 18/9/2017 09:06

points of interest..

During the period Rand Refinery aligned its payment terms of its smelter section to those of other international smelters, increasing its payment days after agreement of assay to 90 days (previously 14 days). Delivery of dore bars to Rand Refinery are still being settled within 7 days.

and

During the period GPL and GRG made use of a purchase contract and bill of sale agreement with Auramet, to finance part of material en-route to refineries. The balance of amounts received in advance at end of the period was £6,334,000 (FY 2016: £1,107,000) and is secured against the receivable balance it relates to. The proceeds from material pre-financed during the fourth quarter was used to settle suppliers of this material.

[sea7] 18/9/2017 08:19

I think we can summarise, that the company has managed to get itself onto a sure footing after many years of problems and now we are starting to see the balance sheet cleaning up as well.

With growth plans in place and the fact that this years gross profit figure is the second highest recorded in the company history, only beaten in 2012 with £6.04m, we are seeing the fruits of the work done.

[sea7] 18/9/2017 08:14

yep I saw that, we have..

cash at end of year was £2.65m against £2.056m last year, however, £1.538m in 2017 was proceeds from interest bearing borrowings, which left a true underlying position of £1.12m, almost 50% down on the previous year.

They spent £1.85m on investing activities against £1.22m the previous year, so there is a £600k increase here, however, the big difference is in net cash from operating activities, which is £1.529m against £2.872m in 2016.

cash generated from operating activities is broadly the same, so the increase in taxes paid, the drop in finance income and increase in finance costs, has resulted in the large drop in net cash from operating activities.

[kimboy2] 18/9/2017 08:10

Results are better than I thought.

The obvious positive is Kili where a £1.1m loss last year will be turned into a positive this year with the consequent eeffect on the numbers.

I was surprised how profitable Ghana was given the lower production than capacity and the poor Q3/17. It would seem that the material from South America is coming at a good price.

[pog1234] 18/9/2017 08:03

All in all very good results.

Only a couple of negatives in my view (things not already known).
They will have to work on keeping South Africa at the current profit level (harder to source material) and cash flow is negative was it not for the borrowing. However, the negative cash flow was "due" to investments and will be positive this year when Kili delivers.

[sea7] 18/9/2017 08:02

yep, that is right, kili is not much of a negative looking forward, however, from the point of view of the accounts, it still sat there as an historic negative, which is why I included it in that part above.

[michaelfenton] 18/9/2017 08:00

kilimapesa not much of a negative now operating profitably after many tears as a huge drain on Goldplat. Present management concentration on turnaround has proved successful. All loss makers either turned around or disposed of. I am more than happy as regards to the future.

[sea7] 18/9/2017 07:50

a few negatives to note...

south Africa..

The 36% increase in net profit after tax was partly due to an 19.6% lower average Pound Sterling used to convert the South African Rand results in FY 2017 versus the prior year.

Ghana

The previous zero tax rate enjoyed as part of the Free Zone status ceased in December 2016 and the Company is currently subject to a favourable tax rate of 15%.

kenya,

The Kilimapesa gold mine reported a net loss of £1,100,000 (FY 2016: loss of £711,000) for the year under review. An increase in unrealised foreign exchange losses of £177,000 on intercompany payables contributed to the increased loss. As in South Africa, the increased net loss was partly due to an 14.2% lower average Pound Sterling used to convert the Kenyan Shillings results in FY 2017 versus the prior year.

contingencies

We are pleased to report that the preliminary enquiry into the tax affairs of Kilimapesa by the Kenya Revenue Authorities have been substantially finalised. Of the original preliminary assessment of £1,288,540, £55,000 has been paid and £51,000 still remains under dispute.  

Trade and other receivables for the Group include a balance of £812,000 (FY 2016: £556,000) of Value Added Taxation receivable from the Kenya Revenue Authority. Of the current balance £472,000 is older than 3 years. Despite clear provisions in the Kenyan Legislation regarding the recoverability of VAT, and two audits and continuous consultation with the Kenya Revenue Authorities the balance due remain outstanding. Management is of the opinion that there is no legal reason not to recover the balance due.

The process of investigation agreed with Rand Refinery was completed during the period, but no agreement could be reached between the two parties. GPL initiated legal proceedings against Rand Refinery on 11 September 2017 to recover ZAR 13.5 million (approximately £792,000 at 30 June 2017) plus interest due. Management remain confident that the balance will be collected.

[sea7] 18/9/2017 07:43

results out.

net current asset value increases to 2.62p per share, from 2.11p per share in 2016
p/e on continuing operations is 7.6 at current prices. (excl minorities)

net working capital position increased to £5,647,000 of which £2.65m is in cash/cash equivalents. In 2016 this figure was £4,586,000 of which £2.1m was in cash.

[1rodson] 17/9/2017 15:26

I recall that too S7 the tipsters, brokers and finial press were all misled by the crooked GOLDPLAT board and were calling for 30pplus as were many others.

You really should bo better research.

BUT THEN RAMPERS NEVER RESEARCH.

NOT MUCH MORE TO SAY ON THIS POINT AS THE FACTS ARE CLEARLY THERE FOR ANYONE TO FIND.

[sea7] 17/9/2017 14:56

Yes and miller was calling it to go to 30p, when he was buying at 16.5p - the stock collapsed afterwards - you were wrong there as well miller

[kimboy2] 17/9/2017 10:26

DanielMiller1 21 Jul '15 - 16:46 - 75 of 3014 0 0
1.50 hit today just asSand (sic) said it would. This dawg (sic) is not going anywhere for years SELL, SELL SELL,

Look at the price 2 years on from your forecast. You have been completely wrong Dan.

[1rodson] 17/9/2017 10:10

I don't believe that is right. Dan told me to sell at 11p the post is still there.

It was suckers who did not believe Dan when he called 2p

That the truth of the matter and its here for all to see?

ANYONE THINKING OF A PUNT HERE YOU HAVE A CHOICE DYOR AS IN READ MILLER's back posts, OR LISTEN TO TWEEDLEDEE AND TWEEDLEDUM.....aka KIMBOY and S7

[sea7] 16/9/2017 14:41

yes, the past cannot be changed. Goldplat had some issues, put out a profit warning, suspended the divi, miller lost a packet, has whinged about it continually and is still grinding that axe.