Goldplat Share Discussion Threads

[sea7] 09/10/2018 08:01

Hi DD - demetri did attempt to start the process, however, he walked out and it never really went ahead.

[shareholder7] 09/10/2018 07:35

Looks like this board is changing DD with more people wanting to hold GKG to account, than pumping the share.For someone like Michael to give up on GDP speaks volume.Sea has now shown his true colours ( well called out ) and is probably the only one making money by pumping and dumping.Be interesting at the AGM and I might go and ask if GKG is thinking of resigning.Can't believe we are going to sue the Kenyan government now ! Our last legal excursion which GKG said we would win and get 100% of what is owed failed. As well as the statement the Kili is now breaking even.Might be joining you Michael but it will push the share price down, an opportunity for Sea to buy more.

[kimboy2] 08/10/2018 22:04

On the economics of the stock dam I have put figures up and anyone is free to come up with better and more informed numbers and it would be very good if they did.

I would point out that;

1. GDP have said if discussions go well production could start this FY. There are 9 months left.

2. 50% recovery was mentioned as standard by Creamer in one of the videos

3. When the resource was announced Gerard said;
This is a resource "sitting on our doorstep" which has already been mined and processed and should therefore be very cost-effective to process. 82,000 ounces of gold on our property with minimal mining costs and relatively simple processing is a great resource to have!

4. The off site processing is far quicker and cheaper than Gerard envisaged when he said that.


The mathematics is simple and we shall see who is correct.

[sea7] 08/10/2018 21:42

DD - my comments to MF were more along the lines of " don't communicate to the world that you are selling - this may impact the price before you get to exit and then you won't get as much in return". I generally only discuss sales of stock, after I have completed those sales.

[sea7] 08/10/2018 21:40

DD,

The stock dam may have been mentioned by demetri in 2012, however, he left before doing anything. It then sat there, continuing to be filled up and recorded by the company staff members responsible for it.

It was only when Gerard started that he commissioned the study of the TSF for the jorc compliant statement of resource.

Gerard said that all studies and work was expected to be complete by may 2016, when preparation for the processing of the TSF would begin. That would have meant about another year. So based on that timeline we are about 17 months behind at this stage. Why- because the ownership of the deposition pit is still being dragged through the courts by the former owners - aurora.There is no end in sight and Gerard is exploring another option.

When the company had the conference call, Hansie said that he expected the deposition issues to be resolved this year, that immediately said to me "not 2018 for processing" and I noted that. Not an issue, the asset hasn't gone anywhere, is being added to and is still valuable and worth a decent amount.

It would be wrong to say they have been talking about this for six years, without expanding on why it has still not been processed. The change in management and the external issues should be highlighted.

[sea7] 08/10/2018 21:27

I prefer it, if people are shunning a stock I buy and I am even happier if they are laughing at me for buying it.

I am not interested in buying a stock everyone loves.

I will only buy beaten down stocks, that are having issues somewhere, which I believe to be surmountable.

A nice lot of negative postings by people on stock boards, goes a long way to getting that price even lower, as I prefer buying a stock for next to nothing and then waiting patiently for the issues to be worked through and the stock to climb out of its hole.

[sea7] 08/10/2018 21:22

shareholder,

I post on this thread simply as a forum for exchange of information relating to this company. I am not losing money on this, as I have no need to sell the stock any time soon.

The reasons for the delay on the stock dam have been communicated and are out of goldplats control. The only reason they have pursued west pit option, is due to it being the best one all round. Investigating and moving to another solution is part and parcel of business, when the route to the target destination is blocked. I see no issue here.

The stock is undervalued and that is when I buy. I will be holding for as long as necessary.

[sea7] 08/10/2018 20:10

six years ago, the kenyans gazetted the planned local ownership rules of 35%, one month after demetri had left. They put kili on care and maintenance the following year.

Here we are six years later, with the company deciding to halt exploration activities, due to the goal posts being moved again, albeit under different circumstances.

see how this drags on.

Kenyans not paying the VAT Refunds to kili and others,
Kili witholding royalties and hoping to offset against VAT refunds
Kenyans giving part of the licence away.
Kili stops exploring and threatens legal action.

Business as usual then.

[sea7] 08/10/2018 20:04

if I was filtered rodson you clown, then you would not be aware of the fact that my post was to you and you would not have responded.

[kimboy2] 08/10/2018 19:16

Looks as though the Chinese granted a license for copper exploration on 1/8/18

[sea7] 08/10/2018 16:52

if I was filtered rodson you clown, then you would not be aware of the fact that my post was to you and you would not have responded.

[sea7] 08/10/2018 16:49

Some of the posts here beggar belief.

This company was on its knees four years ago and had Gerard not accepted the role of CEO instead of waiting and becoming NEC, as he was going to be then goldplat may have been in a worse place today.

The NEC chair, along with Ian visagie at the time, stated that they wanted a full time, south african based CEO who could focus on the job.

That is exactly what they got, when they gave GKG the job. He has turned this around from where it was. It is clear to me, that there are posters on this board who cannot see the work that has been done to streamline, upgrade and optimise this business since 2015, when GKG took over in feb 2015.

They have secured over 24 months worth of feedstock for south africa, it is generating good profits, they are working on ghana and kili is still a drag, Gerard is not going to give up on it, whilst there is a chance.

Some complain about the stock dam on this board, heaven knows why, it is an off balance sheet asset, that is very close to being worked on after all this time and is worth more than the current cap.

I guess the reason I am comfortable with this, is because when I buy a stock, I work on the principle that I intend to be with the stock for years. It is a good business and doing well. Like all businesses, some things are going great, others are dragging, other things get put on the back burner.

Sustainability, continuity and then profitability is what matters to me.

[russman] 08/10/2018 15:56

Sell GDP to the highest bidder.

[kimboy2] 08/10/2018 15:38

There are always going to be lots of ifs and maybes about predicting the future. However one fact from the AR is that South Africa produced a net profit after tax of £2.765m

If they walked away from Ghana and Kenya, which are separate companies, what is their holding in SA worth? More than the present market cap I believe.

That is before we place any value on the stock dam, which the market doesn't of course.

On the stock dam what we know is more or less how much gold there is. What we don't know is how much it will cost to process, the recovery rate and when it will happen.

My view is that the net profit will be well in excess of the current mkt cap and that we will probably hear about this before Christmas. It will certainly happen some time.

IMV the downside is protected by SA and the upside is tangibly there to be guessed at. As with all shares you place your bets and see what happens.