Goldplat Share Discussion Threads

[kimboy2] 22/11/2017 20:36

The only thing I would disagree with is the presumption that you are dealing with a rational person.

[camerongd53] 22/11/2017 20:11

1Rodson

I have been a shareholder in GDP for about 5 years and have observed what was going on as a shareholder. What I understand may have happened may not be correct but below are my views.

Kili may have been a good project at the outset. It should have been the cream on the cake. The cake was and is the recovery business in SA & Ghana. Management took their eye off the ball and both these businesses underperformance for want of a better description nearly brought the GDP group down.

Kili had mismanagement (stupid location of plant and probably more) and bad luck for want of a better description with the Kenyan authorities.

Whose fault - I think the main culprit was Demitri - as MD he managed all 3 projects SA Kenya and Ghana badly for want of a better description - and mismanaged cashflow which nearly brought the company down.

If Kili was such a great investment, Demitri would have sold or traded in his shares when he left and exchanged for the Kili project and I think the company would have taken a bad price for the Kenyan assets. I suspect Demitri was not such a fool to do that deal as he probably realised it would be a black hole for money and he did not have the skills to make it work.

The role of the Managing Director is to manage the company on a day to day basis and if the FD is not performing he should get rid of him - MD and boards responsibility in the case of GDP. I think hindsight suggests Demitri had become a serious failure.

The role of the board of directors is to ensure that management performs etc. They eventually realised that Demitri was not performing and got rid of him. Lamming and Visagie were temporary until GKG was appointed.

The more I see of GKG's performance the higher regard I have for him. He appears to know the business and how to run it. He can line up the ducks in the correct order and ensures that cash is managed effectively.

My views are above and they may not be correct but I have a shareholding in my SIPP of several hundred thousand shares and am putting my faith in my views of the company.

I just wonder what it will take for 1Rodson to accept that GDP is now very well run - perhaps he would let us know and also give credit to the BoD and management when they perform well

[sea7] 22/11/2017 19:01

Do not tell me that miller/rodson is still banging the same drum. When will that idiot stop going round in circles, covering the same ground time and time again. Is he too stupid to realise that it doesn't matter what he says, he cannot change the fact that he lost here and that is that. The guy really needs to get over it, move on and get a life.

[kimboy2] 22/11/2017 18:38

I don't suppose anyone has the slightest intention of looking through that litany of inanity. If they did they would find that Dan/rodson called GDP wrong at almost every turn.

[1rodson] 22/11/2017 18:07

From what Imcan recall Dan was the only poster here that called KILI right and openly stated that it was purely down to the gross incompetence of Brisn Moritz and his FD that were running it into the ground.

All Dan's posts are there to benchecked for those interested in the facts

[kimboy2] 22/11/2017 12:26

The last interims showed an attibutable income of £770k. This included a loss of £712k from Kili during the period.

If it is correct that Kili is now profitable then ceteris paribus would suggest an attributable profit of at least £1.5k.

That would be an eps of 0.9p for the half year.

[russman] 22/11/2017 12:19

If you fcast 2p for the year.What will cont eps be at the interims.

[[e-mail]] 22/11/2017 11:43

topped off now

[shill10] 22/11/2017 11:42

glad to see you're seeing the light at last, Dan ! Do yourself a favour and buy a few before we hit 10p.

[kimboy2] 22/11/2017 10:14

I don't think Manolis has got anything.

[1rodson] 22/11/2017 08:58

It's amazing what better management can achieve KILI making the profit at last.

The old team should be sued for incompetence.

[kimboy2] 21/11/2017 21:52

ISTR that Kili already paid 4%.

[sea7] 21/11/2017 19:02

looks like kilimapesa will be included in this....

“The (licence) holder shall spend a minimum of at least one per cent of the gross revenue from the sale of minerals in every calendar expenditure year to finance the projects under the agreement,” state the regulations published by mining secretary Dan Kazungu.

[kimboy2] 21/11/2017 12:12

The next news islikely to be the elution column in Ghana. Hopefully Gerard will take the opportunity to gives us a full update when it is issued.

It sounded as though this is going to be in the New Year.

Some sort of heads up on the mercury clean up would be very welcome because that could make a significant difference.

[kimboy2] 21/11/2017 11:19

Last year the attributable income was £1.35m including a loss of £1.1m at Kili.

Kili is now profitable, and expected to produce perhaps £0.75m profit.

Then there will be increased profits from Ghana from the elution column and other works.

EPS will be over 2p for 2017/8

[russman] 21/11/2017 10:12

Continuing eps last year was approx. 0.8p
Fcast is 1p
Am I looking at the latest research note.

[dangersimpson2] 21/11/2017 09:45

A significant share price rise by Christmas seems a bit optimistic unless we get some very positive news on production, kili cost improvements, westpit allocation/tailings reprocessing & start of Ghana mercury clean up in the next month or so.

However all of those are expected in the next 12-18months so a significant rise in the medium term would not be overly optimistic.

[kimboy2] 21/11/2017 09:32

I think the main point about p/e and eps is that the turnaround at Kili will double the eps this financial year.

At some stage the market was going to catch up with that news. On that basis the prospective p/e is still less than 4.

[1rodson] 21/11/2017 09:14

I see the price rise.....nice one. But it's a rise on no news and that's always a bad sign as the MMs are setting their trap. Caution MMs at work.

[sea7] 21/11/2017 08:25

in my view, Andrew monk, the author of the piece and a broker is saying the same as VSA, as they have a target of 17p. They do clearly state that it is a Christmas tip.

[michaelfenton] 21/11/2017 07:45

If you are lucky Kimboy will answer this? I do not have the knowledge to do this but it is self evident that GDP is grossly undervalued?

[sea7] 21/11/2017 07:44

the market has, historically only valued goldplat at a multiple of what it expects the company to generate from its assets, this being a p/e of between 5 and 7.

The current price, which gives a p/e of 9.5 and is much higher than the usual range, is reflecting the forward expectation of the increased profitability from kili flowing through to the balance sheet which hasn't shown up yet, despite being communicated by the company. When this arrives in the next set of figures shown, the p/e is likely to drop in line with the higher profitability and the share price would remain around the same level or at least tick up a bit.

The mining rights etc are shown in the intangibles, however, are unlikely to be reflected in the market price any time soon. Without the licence there is no mine, so it is necessary to the normal course of business. The know how at goldplat recovery is again essential and is passed on to new staff in the usual succession planning carried out internally.

In my view the real missing piece from the balance sheet, is the jorc compliant resource in the tailings storage facility. This has 82k oz gold in it, plus a lot of silver and uranium. If they can recover 40k ozs it will generate $40m in revenue before costs. This will not show up until they secure the westpit and then give some clarity over the time it will take until they start processing the tailings facility and what the expected recovery per year will be.

[pog1234] 21/11/2017 07:26

Have anyone given any thoughts on what the value of GDPs intangibles are (off and on balance sheet)?

From my point of view these are not valued at all (in the share price) and perhaps they should have no value either. I have listed three below but I am sure I have missed some.

License in Kenya and being the first gold mining company in operation there
Having know-how on how to process waste material not easily? replicated
Waste material stored on site which has not been fully valued (will generate more profit than BS value?)


Any thoughts on this? Value, if any, or just prerequisite to do business in the first place?

[kimboy2] 20/11/2017 18:53

ISTR they have done some stuff on GDP before so presuming that Gerard met them when in town.