Goldplat Share Discussion Threads

[michaelfenton] 01/10/2018 08:53

Certainly agree about sticking to the knitting. Kili is a real thorn in the side - seems to be a bottomless pit as far as our money goes - but GKG keeps going further and further down a dead end?

[shareholder7] 01/10/2018 08:16

At last shareholders are now seeing the light.Stick to the knitting, so right Russell Lamming was correct all those years ago when he put Kili on care and maintenance to concentrate on the recovery business.Oh and by the way the recovery business is only as successful as the team that sources the materials which currently we just sit back and wait for stuff to come in.So hopefully the next call from shareholders after getting rid of Kili and GKG would be for a professional sourcing team.Then we need to be able to manage contracts GDP should have a mission statement on the wall of our board roomWhat we do "Gold Recovery, professional sourcing and great contract management"Then hire the professionals to implement. I am fed up with them being on target for spending money anyone can do that.

[kimboy2] 01/10/2018 08:07

They had £1.9m of cash on 30/6/18. The operating cash flow last year was £3.2m of which £1.7m was spent on capex, mostly in Ghana.

They are well capable of financing stage 3 if they wish, but they would prefer not to.

[ironstorm] 01/10/2018 08:04

Dd that is the key question for me. Just don't get they. They have proven the old adage about holes in the ground.

I am not convinced they have there eye fully on the ball on recovery side either. SA is and was the golden goose. Ghana should be there too. Imagine if Ghana was run as hot as SA and we had no gold mines or mining aspirations we should easily be double in price possibly much more.

Stick to the knitting please.

[kimboy2] 01/10/2018 06:21

They won't need cash till they get a mining deal. Before that will be the stock dam so we should be over 10p by then.

I would have thought the most likely way to raise funds for amine is probably to sell shares in the new venture rather than GDP, in effect similar to what they are trying to do with Kili.

[michaelfenton] 01/10/2018 05:34

DD - previously GKG stated no placing until share price 10p?

[sea7] 30/9/2018 19:00

you did nothing of the sort rodson/miller - the only thing you are capable of doing is a lot of keyboard warrior talk - no substance to you whatsoever - prove it rodson/miller - actually contact the company and get them to address your concerns.

[russman] 30/9/2018 14:57

Missed that.
GDP going to sue Kenyan Gov over Migori mining rights.
The value of Kili has sunk.
What happened to the VAT refunds.

[kimboy2] 30/9/2018 11:08

And the RR intangible costs?............you need to start looking beyond the numbers,

South Africa is doing very well despite the RR write off of part of the RR debt

if they don’t sort a deal with Kili then what?

There is always a deal it just depends on the price. They either do it themselves or accept the price.

how much capital to get to the higher grades?

None

why hasn’t DRD / GDP discussed the TSF before now, been doing business together for how many years now?

Assuming it is DRD then something has obviously changed. I suspect it is something on the DRD side.

what if this pie in the sky deal is only split 30% for GDP

They can wait for the pit to come up and do it themselves.

As for Ghana sourcing materials, forget it, clearly they can’t match plant (new!) production capabilities...

Well that remains to be seen. There are clearly deals in the pipeline. They just didn't come in the last financial year

Anyway, in my opinion the odds are they will need funds to progress and that means a placing.

Well last year, despite the not very good results, they still produced £3.2m of cash from operating activities. If they get Kili to breakeven and feed for Ghana then it will be a couple of million better than that.

Cash is needed for stage 3 of Kili but they are trying to get an outside investor. Cash will be need for the stock dam, but if the economics are anything like then that should be easy to obtain.

Finally cash will be needed for a new mining venture. That is some way down the road, though and we don't have any details. I suspect that the stock dam cash will be flowing in by then.

[kimboy2] 30/9/2018 08:48

On the RR settlement the amount claimed was 13.5m rand.RR were claiming that they were owed money. This amounted to non payment of £830k plus damages. They eventually paid £510k.

The results for the sections are;

South Africa 2018 2017 2016 2015Revenues 22.669 25.066 15.233 14.001Op Profits 4.67 3.312 2.111 1.09 Net after tax 2.765 2.42 1.777 0.965 Ghana Revenues 8.241 9.082 Gross Profit 1.032 1.662 Profit pre finance 0.646 1.325 0.437 -0.641 Kili Revenue 4.834 3.15 1.56 1.591Profit pre finance -0.986-0.838 -0.711 -0.753



The SA operation is a cash cow which is worth more than the whole of GDP at the moment.

[kimboy2] 29/9/2018 10:58

Yes struck me as odd. With all these licenses they have nicked off people who have done nothing with them, including Red Rock next door, you would have thought that there were easier targets.

I thought it may be some agent of a potential bidder hoping for a better deal on Kili.

[pigeontrader] 29/9/2018 10:55

I VALUE YOUR OPINION RODSON AND YOU'VE CALLED THIS DONKEY RIGHT SO FAR............... lol

[sea7] 29/9/2018 09:49

There was a brief mention of this in the annual accounts and now there is a bit of coverage...

London-based Goldplat Plc is fighting an application by a rival mining firm to explore for gold in its Kenyan turf of Migori that is estimated to have reserves worth Sh16.9 billion.

[russman] 29/9/2018 09:29

Reported eps negative (0.13)p