Goldplat Share Discussion Threads

[kimboy2] 27/9/2017 13:35

That would make Kili worth $40m.

[sea7] 27/9/2017 13:34

Russman, if you are a genuine shareholder and wish to have your opinion valued on these boards, then at least put a bit of effort into your posts, instead of your usual, incompetent tweets.

How about you elaborate on your assumptions and assessments, or is that beyond your capabilities.

[russman] 27/9/2017 13:33

How many gdp ozs does RR have control of.

[russman] 27/9/2017 13:31

GDP is a pipeline.It shovels raw junk in at the start.Needs a refiner at the end.The pipeline is getting longer.Cash is getting sucked into wip.

[sea7] 27/9/2017 13:13

maybe worth a read...

The average price paid for gold in the ground was $63/oz

[kimboy2] 27/9/2017 13:04

Given the present rate of extraction there should be no need to do much drilling. ISTR they said the drill had broken down and they hadn't fixed it.

I also seem to remember they said it exploration would cost $2/oz given what they already know.

In the old days an inferred ounce used to be valued at $30 and a reserve one at $200. Those days have gone presumably.

[dangersimpson2] 27/9/2017 12:31

I think they are fairly confident that they can add to their resources if they need to - given the grades of the artisanal feedstock they are sourcing, Kili & surrounding area is fairly prospective. The problem is to prove up those resources takes drilling, assaying and geological modelling all of which takes cash which at the moment is better spent on plant improvements. To convert those resources to reserves then needs confirmation that those resources are economic to extract via consultant studies again taking cash and management time. Having increased reserves is only really an advantage when raising money or making strategic mine planning decisions. Therefore I think they will only do it when they need to for mine planning or are in a stable position with the current production and are looking to expand.

The current underground grades aren't that high so it would make sense to spend a bit of money on explo since finding a couple of high grade veins that are accessible could add significantly to production economics. It is also much lower risk than greenfield explo. But they will only do this when the current mine & plant are stable and operating profitably.

[kimboy2] 27/9/2017 12:07

They have been doing a bit of drilling so it may be the new numbers are just a bit of fiddling around the edges as a result of this

[sea7] 27/9/2017 11:51

Yep, not sure why old and new are shown either. Probably have to find out via st brides these days.

[kimboy2] 27/9/2017 11:31

They quote both the old numbers and the new Kili numbers in the presentation. I am not sure what they have done but the tonnes of ore has gone down 400kt, and I am pretty certain they have mined nothing like that.

[kimboy2] 27/9/2017 10:54

Hi shareholder
Thanks very much for your comments. A few questions;

RR have a load of material they were going to give to GDP once this was was done

Do you have any proof of this?

RR issue has much more effect than the figures people are quoting as if GDP lose there will be costs plus a tremendous loss of good will

Why should people send stuff to GDP if they are going to be cheated

If RR lose, which appears the likliest outcome, will they lose a load of custom?

Only time will tell but the market is in agreement with DD and me, this is what the share price is saying.

Isn't this just cogntive dissonance?

RR and GDP should have been a marriage made in heaven but totally screwed up now

Aren't RR and GDP competitors?

[russman] 27/9/2017 09:29

At the extreme, the Auramet advance would need to be over 12m this year.
Not really a problem unless the pipeline gets blocked.

[shareholder7] 27/9/2017 08:13

I am 110% in agreement with DD as there have been ongoing contractual issues at GDP, lack of pure commercial awareness, for a very long time.One thing Gerard did was to make sure no stupid deals were done when he came on board. Supposedly However the RR deal was done on his watch and the project manager was Hansie RR have a load of material they were going to give to GDP once this was was doneInteresting as most posters have now agreed that there is a lack of material in SA but RR have tons just next doorIf GDP could have managed this deal well, more would come and the share price would have been well over 10p now Imv DD and me would still be holding RR issue has much more effect than the figures people are quoting as if GDP lose there will be costs plus a tremendous loss of good willAlso the contact process will now be publicly looked at as part of the court case. Why should people send stuff to GDP if they are going to be cheated Only time will tell but the market is in agreement with DD and me, this is what the share price is saying Once the outcome is know the share price will be going in one or the other direction depending on the result RR and GDP should have been a marriage made in heaven but totally screwed up now

[kimboy2] 27/9/2017 07:17

The issue for GDP will be how to raise cash when the share price is at a third of fair price, according to VSA at least. If they buy something for a third of the fair price with equity they are no better off.

If I were to guess I would say that they would buy some sort of resource which the owners are struggling to raise capex for.

One of the good things that GDP has done, which doesn't get mentioned much, is get its capex done dirt cheap by using second hand tackle and their own in house workforce.

The perfect deal would be something like Matala, which I haven't given up hope of us getting, with £1-2m purchase price, £10m or so to raise for capex, a $700 cash cost and a production of about 30kozs.

If they got that then IMV there are plenty of options for raising the cash.

[camerongd53] 26/9/2017 22:40

DD4
I know that GDP have had several major problems over the years. This is the first one I am aware of that relates to a contract. I think it is also the only one that has happened since GKG took charge of the company which may mean something for investors.
I am not at the moment prepared to take sides, just noting there is an issue which may or may not be indicative of general problems. This amount although large is not critical to GDP.
The issue of the debt due by the Kenyan Government also causes me concern. I would have thought that the paperwork should speak for itself and money would come through after 1 check by the gov't.
It is Africa where people chance their arm by not paying just and lawful debts. We will see when the court case runs its course whether this has infected RR or alternatively whether GDP cannot manage their contracts. GDP state that the independent assessor has come down on their favour whatever that means.
As I said above, I have an open mind - investment is always a matter of faith and hope

[wigwammer] 26/9/2017 21:24

Let's go back to cash flow.Cash flow negative in 2005. Stock tripled.What did russman get wrong.

[kimboy2] 26/9/2017 20:09

The last results wrote off £955k from an exploration venture which was yet another Manolis misjudgement.

Just read the results

Nyieme exploration project discontinued and development cost of £955,000 written-off

[1rodson] 26/9/2017 19:46

No so Kimboy YOU were talking about KILI.