Goldplat Share Discussion Threads

[kimboy2] 04/10/2018 13:34

The vat held by the Kenyans have increased from £812k to £1.074m. An increase of £0.25m in a year, which is about the same as the previous year.

It would certainly be helpful for Kili if they paid up.

[sea7] 04/10/2018 13:13

yep - it is, about 24months worth held.

[kimboy2] 04/10/2018 13:10

The increase in raw materials is mostly in South Africa where IIRC they said they had 24 months supplyfor the CIL.

[sea7] 04/10/2018 13:07

trying a bit of offsetting I see.....

Kilimapesa Gold (Pty) Limited, a subsidiary of the Group, has royalties payable to the Kenyan Government in arrears to the amount of GBP177,000. The Company is planning to pay the royalties from outstanding VAT claims receivable and future revenues.

[sea7] 04/10/2018 13:02

FROM AR

In '000s

Consumable stores £1,345 £1,202
Raw materials £2,605 £644
Precious metals on hand and in process £3,797 £6,898
Broken ore £44 £218

We can see the large increase in raw materials from £644k to £2.6m, this will take a bit of pressure off in the short term.

[sea7] 04/10/2018 12:42

from AR

The aim for the 2019 year will be to focus our marketing efforts and broadening the geographic and product diversity of materials sourced to expand and grow our recovery businesses; securing by-product material for GRG from outside of Ghana; sourcing material for the CIL (Carbon-in-Leach) sections at GPL; and completing the expansion project at Kilimapesa and seeking co-investors to fund future development at Kilimapesa

[kimboy2] 02/10/2018 19:36

Iam not sure a merger would signal the bottom of the market. If loads of bids were kicking off then maybe.

Still think GDP is irrationally cheap though, despite the upset at Kili last year.

[flyingswan] 02/10/2018 19:16

kimboy2 . have not mentioned anything about this merger: "And the recent merger between Barrick and Rangold signaled not only that mining stocks are incredibly cheap, but that a floor may have been reached." Will it affect Goldplat?

[kimboy2] 02/10/2018 18:38

There is understandable scepticism about a new mine, however the company give a bit of a clue as to the thinking;

Goldplat does not intend to enter into exploration and will prefer to gain interests in producing or near-production assets, ideally with a project where an opportunity exists to create a simultaneous recovery operation.

This would sugar any potential pill. Presumably they are looking at a defunct mine possibly with defunct processing equipment and a tailings heap. If so the economics of reprocessing the tailings heap could considerably derisk the project.

There is also a mention of the TSF:

If discussions with a third-party producer to process the TSF off-site progress well, this project could begin during the FY 2019.

After all the delays I am not counting on anything. Hopefully some sort of agreement with DRD doesn't need permission from the government. IMV they are expecting to announce the deal before Christmas at the latest. After that we shall see.

[kimboy2] 02/10/2018 16:53

On the options 7.5m have lapsed and 4.5m of these are Lammings. The other 3m were held by 'key personnel at the subsidiary level'.

[kimboy2] 02/10/2018 08:59

Couldn't disagree with that Pog. GDP is not going to get any credit for anything till they actually produce the cash from it.

Had a quick flick through the AR;

No buy back, which is disappointing. Presumably they have plans in the pipeline which will use any spare cash.

The inventories have increased from £0.6m to £2.6m, which is a pretty good effort by the sourcing team. I reckon that adds up to about 40kozs, which is more than the 32kozs at the last Q&A.

Unfortunately that will all be in South Africa, but at least the future of the cash cow is guranteed.

£550k of the loss on Kili is D&A.

There was £500k in interest. Most of this is the pre financing loan that popped up in payables at the interims. It has disappeared at the finals. Hopefully the increase in inventories willreduce the need for pre financing.

Wages went up £600k and £200k of that was for directors.

The number of personnel went up by 30 to 575. I believe that 200 of these are at Kili.

FX was £200k and the 'undisclosed' write off to RR was £320k.

The carried forward tax losses in Kenya is £9m.

Lammings 4.5m options have expired

[1rodson] 02/10/2018 08:00

POG SAYS OVRR ON THE BBB THE FOLLOWING


Pog12341 Oct '18 - 18:33 - 5815 of 5815
0 0 0
The problem with GDP, IMHV, is that something new unforeseen negative always comes up when things start to look bright again. Therefore no one (at least me) believes that the company will deliver on any of their plans/projects. At least until the money starts pouring in. In addition, I think this is also the reason for the depressed share price....who would like another set back when you have bought in. At these prices you can keep the downside to a minimum....


I SAY A GOOD BoD IS Always PREPARED FOR THE UNFORSEEN AND IF THEY DO MISS SOMETHING A GOOD CEO WOULD ALWAYS HAVE A CONTINGENCY PLAN READY TO GO INTO ACTION

[pog1234] 01/10/2018 18:33

The problem with GDP, IMHV, is that something new unforeseen negative always comes up when things start to look bright again. Therefore no one (at least me) believes that the company will deliver on any of their plans/projects. At least until the money starts pouring in. In addition, I think this is also the reason for the depressed share price....who would like another set back when you have bought in. At these prices you can keep the downside to a minimum....

[1rodson] 01/10/2018 14:45

Bring back Manolis he knows what is there in Kili and knows how to make it work. I have spoken with him many times and he really does know his onions, which is far better than knowing French wine.

Get the board to eat crow and bring him back then see your profits roll in.

Green and visage can be labours breaking rocks for roadways. Best job for the useless bums!

[kimboy2] 01/10/2018 12:45

I completely understand the scepticism as Kili has not gone well, so far at least.

However suppose they cam up with a mining deal such as;

1moz resource for £2m
Cost of processing tackle £12m
Production 40kozs pa
AISC $1000/oz
Funded by 50% debt and 50% equity raise or perhaps from cash from TSF

I am pretty certain if they ever produced something like that they would get approval. It issimilar to the Matala deal.

The question is what is a marginal deal.

[russman] 01/10/2018 11:28

GDP have burnt all their breeches.
Sell up: salvage something.

[1rodson] 01/10/2018 10:56

Bring back Demi Manolis he can make Kili work guaranteed!

[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.