Goldplat Share Discussion Threads

[kimboy2] 10/11/2017 06:49

This project has been described as 'major' and 'extensive sampling taking place'.

We will have to see what happens but clearly anything along the lines sggested would be transformational for GDP, and put us in a different league.

[sea7] 09/11/2017 20:14

yep it is and they stated in that report that whilst concentrators are available, most ASM use sluice boxes that are cheap and easy to construct.

Once goldplat get going with this, they will find, I am sure, that there is plenty of gold to be had, as the ASM leave a lot behind.

[kimboy2] 09/11/2017 20:01

IIRC the pilot plant was a concentrator.

[sea7] 09/11/2017 19:51

mercury - Ghana and overview of the way mining is done in the ASM.



Small-scale miners extract only gravity recoverable gold and overall recoveries are estimated to be between 30% and 40%. The finer gold particles in the tailings that require dissolution for recovery may be processed profitably by larger companies.

[1rodson] 09/11/2017 18:15

Bumboy 7 claims Dan was posting dross from 2011.

I followed Dan's posts and made more money than I would have follow Bumboy7

[1rodson] 09/11/2017 18:12

The question is where did that balance come from?

All answers will be carefully studied thanks Rod oops no Dan.

No sorry O was Dan yesterday

[sea7] 09/11/2017 17:05

That clown miller hasn't even bothered following the chain of events to understand where the ZAR13.5M figure claimed came from.

He posts up some half baked statement in the hope that someone else will provide him with the correct answers because he is either too stupid, too lazy or both to carry out the research work himself.

This is why I put him on filter, as I am fed up with having to read posts that look like they were made by a child.

[kimboy2] 09/11/2017 17:01

It all in the AR if you bother to look Dan. You clearly haven't the slightest clue however if you look on page 52;

Trade and other receivables for the Group include a balance of £792,000 (FY 2016: £679,000) which a customer is disputing. 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 for balance due plus interest. Management are confident that the balance will be collected.

No idea what this recorded source nonsense is about.

[1rodson] 09/11/2017 16:33

Yes, Dan come Rod is so thick that he has managed to call the share price down again and wound you all up into talking about accounts and the offshore hidi-hole GDP has.

As for the amount kimbot2 say is receivables still no answer if it's in the books as stock or cash and if either is it from a recorded source.?

SH7 DONT BE GOBSMACKED BY WHAT s7 POSTS It's ALL TO BE FOUND ON THE COMPANY WEB PAGE OR RNS notices......JUST READ IT YOURSELF

[sea7] 09/11/2017 15:10

no problem S7.

[shareholder7] 09/11/2017 15:07

Amazing Sea you know all this, thanks

[sea7] 09/11/2017 14:37

if your interested the figure of investment in Gold Mineral Resources is derived from the 79m shares issued at 7.5p, which is £5,925,000 plus the £500k that Goldplat Plc agreed to at listing, when it purchased 500k shares of £1 each in GMR. This gives the balance of £6.425m, then add the capitalised loan from Goldplat Plc and we have the current balance of investment of £9.425m, as shown in the 2017 accounts.

The £500k paid in cash to purchase the £1 shares at par in GMR by Goldplat Plc was used to pay the £500k acquisition cost for Goldplat Recovery South Africa by GMR.

[sea7] 09/11/2017 14:23

well the dividend is paid to the owners of shares in goldplat plc.

The AR shows that goldplat plc has advanced funds of a running total of £4.5m to Gold Mineral Resources at a rate of 2% above Libor, which has been waived again. This is down from last years balance of £4.61m. In 2012 it was about £7.2m that was owed to Goldplat by GMR.

Goldplat Plc, have so far, invested £9.42m in Gold Mineral Resources to date. The balance was £6.4m, however, in June 2015, they capitalised £3m of the loan to GMR from Goldplat plc to an investment, taking the figure up to £9.42m.

..................

There are countless companies that have channel islands holding companies that have actual standalone operations in the UK. Goldplat does not operate in the uk as such.

[shareholder7] 09/11/2017 14:02

Let's hope Panorama don't find out about GoldPlat (:-

[sea7] 09/11/2017 13:54

all the inter company borrowing is funnelled through this Guernsey based holding company.

The balances on the recent AR show that Gold Mineral Resources, owes Goldplat PLC £4.5m and owes Goldplat Recovery SA £217k, however, it is owed £4.7m from Kilimapesa Gold, £1.25m from Nyieme (written off iirc), £81k from Anumso, £441k from Midas and £75k from Gold Recovery Ghana.

If this was funnelled through an entity in the mainland Uk, then I dare say there would be some taxes to pay, such as on the £327k of goods, services and equipment supplied to Goldplat Plc and Gold Recovery Ghana by Gold Mineral Resources.

[shareholder7] 09/11/2017 13:48

So does this mean we can keep all profits and cash in the Guernsey company and pay no tax.Then use this money to invest back into the African companies ?Interesting, when we got paid a dividend all those years ago did it come out of the Guernsey company ?

[sea7] 09/11/2017 13:35

Yep....

In most cases, the income of Guernsey companies is taxable at 0% and there is no separate corporation, capital gains, inheritance, capital transfer, value added or general withholding taxes in Guernsey;

[shareholder7] 09/11/2017 13:15

Do we need it anymore Sea as it looks like a bit of a scam for the past shareholders?

[sea7] 09/11/2017 12:11

The holding company, gold mineral resources was acquired by Goldplat plc at the listing date back in 2006.

Goldplat plc issued 79m shares to the concert party to acquire the holding company, that they subsequently put the acquired goldplat recovery SA and Goldplat Recovery Ghana into.

The concert party...

Artemis Trustees Limited as trustees for Perseus Settlement 56,090,000 53.9%
Artemis Trustees Limited as trustees for Kilo Trust 18,170,000 17.5%
Artemis Trustees Limited as trustees for Aqualeo Trust 4,740,000 4.6%

This totals 79m shares and accounted for 76% of the issued capital at listing.

Artemis are Guernsey based and the perseus trust, was where Demetri's children had a beneficial interest, not Demetri or his wife.

Goldplat plc is the ultimate controlling party, which owns the holding company, then the subsidiaries are shown as being held in the holding company - gold mineral resources.

Guernsey is zero rate income tax.

[kimboy2] 09/11/2017 12:04

Well I don't know but I believe that there is 0% tax in Guernsey. This won't affect the normal running of the company as the subsidiaries are taxed in their respective countries.

However if they cam to sell one of the subsidiaries then a profit would arise to the holding company which would potantially attract tax.

[shareholder7] 09/11/2017 11:59

With all the news of off shore accounts does anyone know why we have a holding company in Guernsey and then the PLC?

[sea7] 09/11/2017 10:18

yes, millers alleged in depth knowledge has let him down yet again.
He clearly doesn't read the accounts either, as it is clearly stated where the rand refinery invoices are shown.

elution should be on line fully soon, further reduction in concentrate production, increase in dore production meaning enhanced cashflow. The company is finally getting to the end of that capex programme that was initiated some time ago, even though it has taken a year longer than previously expected.

[kimboy2] 09/11/2017 09:35

It does seem odd that the bloke who keeps telling us that he has spotted flaws in the GDP accounts, and that they have been fiddled, has only a glancing understanding of the accounts.

Hopefully with the next elution column coming on stream and the advances in profitability becoming visible will send the share price well past 10p and reduce the flow of inane comments.

[archboldus] 09/11/2017 08:27

I've said it before and I'll say it again. Rodson/Miller you genuinely make me laugh. I love the way you display your ignorance for everyone to see openly.