Goldplat Share Discussion Threads

[1rodson] 08/10/2018 15:16

Just goes to show who the real mugs here are:


shareholder78 Oct '18 - 13:44 - 5865 of 5865

GKG salary £185k

Amount of shares brought £6k

No directors share purchases since this purchase


Basically speak volumes


But then I did warn y'all about GILBERT When he was appointed.

[shareholder7] 08/10/2018 13:44

GKG salary £185k Amount of shares brought £6kNo directors share purchases since this purchase Basically speak volumes

[michaelfenton] 08/10/2018 12:57

Kimboy
There are too many if's. Yes the price of Gold should by any account be higher but it is not and we are still adding to the loss pile that is Kili. GKG has made a serious mistake and seems happy to take his inflated salary package with hardly any skin in the game? It is time he was held to account for the misfortunes the company is going through/

[kimboy2] 08/10/2018 12:48

The goal with Kili is to get something producing 8-10kozs at an AISC of around $1000-1050/oz. That will produce a profit of $1.2 - $2m pa.

Gerard has said the upper limit of production would be about 15kozs. It is limited by the geology.

If the gold price spiked, as it will at some stage, then all the extra will fall into the bottom line.

If they could get steady production, churning out reliable numbers, the question is how much that operation would be worth and how much would it cost to get to that situation?

[michaelfenton] 08/10/2018 12:45

Kili needs more cash to ramp up production. GKG is either deluded or knows something that we do not? I prefer the former option and heads should be rolling starting with GKG?

[camerongd53] 08/10/2018 12:28

GDP_ missed their chance to get rid of KIlli when Demitri left the Co
According to the other Blog, Demitri thought Killi was a good and profitable investment. He could have swapped his shares in GDP for KIlli.
Demitri was capable of doing stupid things but was obviously not so stupid to do thatdeal !!

I think KIlli has been a long and painful slog and fear unless there is a fair wind will remain so.

[camerongd53] 08/10/2018 12:20

If the chinese want to move into Kenya (and as a westerner I would be concerned,) the cheapest way would be through taking on Killimapesa.

A few $ from the chcinese into politicians back pockets could facilitate the overdue VAT refund and a deal being done!!!

[kimboy2] 08/10/2018 11:57

Well firstly on the Chinese an application went in to explore a year ago, was objected to, and the present position is unclear. There is apparently no definitive proof that the Chinese have been given a license.

From the sound of it GDP would be happy with the situation if they were compensated.

[shareholder7] 08/10/2018 11:00

MichaelGKG is a miner and this is his comfort zone, that's why he likes KiliHe is also a very good front man and convinced major shareholders that he could tune Kili around I am afraid to say the he has failed yet we still have the likes of Sea and others pushing this share rather than holding GKG to account The number of times that they mention the stock dam gets on my nerves, as I do to them when I mention a professional sourcing teamThe reason why the stock dam can't be processed is they we have nowhere to dump the waste so let's move on from there.I am sure Fidelity can't be very happy with their investment of £1m at 9% and Mr Ooi with over 10%Our only hope is for these shareholders to force a change of policy GKG has to get rid of Kili ASAP and unfortunately we need to replace GKG with a commercial CEO that focuses of gold recovery but more importantly sourcing and contract management I would try to build a much closer relationship with RR and forget about egos

[michaelfenton] 08/10/2018 10:37

Kili has been a disaster just poring good money after bad - I dread to think what the paper loss is? They should have dropped it years ago and stemmed the loses. I have no idea why GKG is so keen on it - but it has meant other areas have also failed to have the attention they deserve.

[sea7] 08/10/2018 09:55

We have a net current asset value of about 2p per share (£3.4m as at 30th June). This has dropped back a bit since last year, however, it is significantly higher than the previous years.

The current cap is £8.62m - so this leaves £5.22m to account for, to justify the current share price.

The stock dam has over 80k oz gold contained and is off balance sheet. Even if they only managed to make £100 per oz of profit and only recovered half the gold contained in the stock dam, then this amounts to £4m of profit. I am being conservative here.

That leaves £1.2m of the current cap to account for.

In my view kili isn't worth much as it continues to make losses, however, a penny a share is not an unreasonable amount at this stage, for a loss making mine with potential.

That covers the current cap easily.

What are the recovery plants worth - well they generated £30m of revenue last year, which gave rise to a pre tax profit of £3.76m, after tax was about £2.7m.

This is undervalued which ever way you look at it and even if they walked from kili and cut the losses, it would probably boost the share price.

As I said before, GDP - great deal of patience.

[michaelfenton] 08/10/2018 09:33

I am only selling 20,000 at a time. Did so this morning with no lowering of the SP? If it dips too far below the 5p mark I will stop selling? I have always been a fan of GDP because it seemed to have so much potential but so far this potential has not materialized and I am losing faith with GKG and his management team.I may hang on to 100,000 or so and see what happens but have too many shares to justify the risk?

[sea7] 08/10/2018 09:32

That is why you go it so wrong then miller/rodson when you were buying at 16.5p, claiming it was going to 30p and beyond. You were singing the praises here, telling everyone to buy, then the price collapsed, you lost big time, then demanded everyone sell when it hit 2p, we were buying, stock climbed to over 8p.

I think we will continue to treat your comments with the contempt they so richly deserve.

[sea7] 08/10/2018 09:09

whilst not many read these boards, you are indicating that you are now selling a large holding into the market, which is already thin and at a low. I suspect we will see the share price drop, if you accelerate your selling.

[sea7] 08/10/2018 09:07

I disagree MF.

This agreement to allow a chinese firm to explore on goldplats licence area, would not have been known to them beforehand and would probably have only been discovered when they found people on their licence.

The fact that they didn't RNS it back in August, is that incursions by locals into licence areas, happens all the time in the mining industry and if they rns'd it every time, then we would see one a week, at least.

Kenya is about 123rd out of 180 on the corruption and transparency index. Doing nothing is not an option here.

Goldplat has to follow this route, especially if it wishes to continue to be seen as a responsible gold producer and still be seen to have some teeth regarding its own licence area.

[michaelfenton] 08/10/2018 08:52

Am beginning to sell my quite large holding - little by little. 20,000 share at a time. Now sitting on a loss but GDP appears to be going nowhere fast?

[michaelfenton] 08/10/2018 08:38

Chinese firms will do whatever is necessary to get what they want. Goldplat has messed up again and threatening legal action will get them nowhere. So now the expansion of Kili is under threat? Kenya is a corrupt country where will all this lead. GKG seems a little naive? Poor management and why have we not been told as this appears to stem back to August?

[sea7] 08/10/2018 07:58

thanks KB.

I had been searching for who the explorer is. If they do not make a fuss over this part of the licence, then Bao Gold Hill will start to move, inch by inch into more of the licence, then this will get worse.

Publicising it, is right, as it shines a light on these events and allows others to be aware of what is going on.

[1rodson] 07/10/2018 18:18

yes but Michael how many times have I Warned you over this dog and it's useless BoDs?But like most here you chose to argue the point and listen to the idiots with vested interests its obvious to me right now that unless something exceptions
Happens the share price will languish for below current levels for many many more years


michaelfenton7 Oct '18 - 10:32 - 5847 of 5848
0 0 0
True Kimboy but they never seem to properly plan for this. Perhaps I should have said Gold Delayed Plan? I am beginning to become frustrated having held such high hopes?
sea77 Oct '18 - 14:45 - 5848 of 5848 (Filtered)

[sea7] 07/10/2018 14:45

Years ago, I said that GDP stood for "Great Deal of Patience"