Goldplat Share Discussion Threads

[kimboy2] 14/10/2018 16:55

Why did they feel the need to acquire so much material for SA?

Inventories of feed materials are a good thing as they protect future production.

Cannot recall that they have done this before to such an extent anyway, £2m!

You haven't been paying attention. Manolis did this much but unfortunately he did it at the peak gold price which caused problems in subsequent years.

How much capital is now required to get a Kili sorted?

A couple of million at the most.

How much is it going to cost wrangling with the Kenyan government?

Well they owe us £1m so I would expect it to be cf+

No funds, GKG said, so how are they going to acquire another mine if they haven’t offloaded Kili?

What he said was that he wanted Kili to be self funding so there was no additional funding for the mine.

[sea7] 14/10/2018 12:34

DD,

do not forget that these figures include in excess of £750k of one off costs.

The profit for the year excluding tax and discontinued ops in 2018 was £1.78m whereas in 2017 it was £1.82m - a drop of 2.4%

They purchased nearly £2m of raw material for south africa - which keeps it going for 24 months and still had over £1.5m in cash left.

The true picture is shown just beneath the surface.

Taxation was £400k higher this year and we can see that last year they had a lower tax levied on overseas subsidiaries, whereas this year it was significantly higher.

The secondary tax on dividends in south africa was nearly 200% higher.

This set of accounts was the one I have been waiting for, as it represents the set that washes out all the past issues and intensive capex phases. The interims and updates going forward will be cleaner and we will be able to see clearly what is happening.

[kimboy2] 14/10/2018 10:21

I think it all that depends on the numbers. If the stock dam numbers come in as I hope it will then IMV it can't do anything than have a substantial effect on the share price

The problem area has been Kili. If they announced on Monday that they were abandoning it I wouldn't be surprised to see the share price rise.

Anyway we will see what progress has been made. If Kili can produce something like 1400ozs in the quarter then it should be around breakeven, which is something.

[1rodson] 14/10/2018 07:40

Both POG and Santori are mulling over things that GREEN should have immediately implemented and I mean immediately he took over as CEO.

However I realise now that he should have finished his apprenticeship first.

Where does this little gem of a company keep finding this idiots from. I mean man, are they purposely trying to impede progress.

[pog1234] 14/10/2018 07:06

Santori, I agree with your statement: ...all that is needed is a catalyst, which could come from a multitude of directions, and this will be off like a greyhound..

However that statement is true for most stocks, there are always opportunities, the problem is to deliver on them and we have been waiting for GDP to deliver for several years now but, alas, we are still waiting.....

I can´t see a big revaluation until Kili is properly sorted, GRL deliver on the stock dam and GRG continues to increase profit and deliver on one of the prospective game changers. IMHV, at least two of the above needs to happen before the share price can have any chance of going above 10p.

[1rodson] 12/10/2018 20:10

Well I can't believe this guy. My opinion of Green is so very low based on an extremely unimpressive tenure of office....which indeed speaks for itself......but this clown give the BB this.


santori12 Oct '18 - 08:14 - 5933 of 5935
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Goldplat showing positive trend fighting qualities at the moment as it reaches a valuation low, all that is needed is a catalyst, which could come from a multitude of directions, and this will be off like a greyhound...

Additionally the CEO is superb, he is able to turn a "crisis into an opportunity" in the face of any shenanigans, understands that if it can be "measured it can be mastered", and at all times retains a cool hand.

[kimboy2] 12/10/2018 15:09

...all that is needed is a catalyst, which could come from a multitude of directions, and this will be off like a greyhound..

The most likely immediate catalyst is the stock dam. There is clearly the possibility that an agreement could be reached soon.

I would have thought that the processing arrangements and costs were sorted fairly quickly. What may take time is getting sorted as to whatever capex is needed.

Whatever the benefit of that a far larger share price effect could be gained from a mining deal, despite people's reservations. I am hoping for something with a large tailings dump which can provide early cash flow.

In the meantime we have the AGM and an ops update. Hopefully Kili is at break even and plenty fo material for Ghana will be the things to look for.

[russman] 12/10/2018 10:08

With-holding royalties to Kenya probably not a good idea.
Even if Kenya owes £1m in VAT.
Kenya can state royalties have not been paid per the licence.

[sea7] 12/10/2018 08:39

Thaks santori -

Now that GKG has steered the company out of its troubled times, we can look forward to seeing him delivering on some of his other stated objectives.

[utsushi] 12/10/2018 08:14

Goldplat showing positive trend fighting qualities at the moment as it reaches a valuation low, all that is needed is a catalyst, which could come from a multitude of directions, and this will be off like a greyhound...

Additionally the CEO is superb, he is able to turn a "crisis into an opportunity" in the face of any shenanigans, understands that if it can be "measured it can be mastered", and at all times retains a cool hand.

[sea7] 11/10/2018 18:07

Yes, the stock dam doesn't appear on the balance sheet at all, as it was effectively waste that they valued at zero.

Once we get to quantify the stock dam asset as it has now become, then we will be able to ascribe some value to it and if we are fortunate enough to see it processed within a short timeframe, then we can expect that to be priced in somewhat quickly by the market.

Kili was written down some time back and this "asset" is no longer reflected on the balance sheet either, although I would be reluctant to call an endlessly loss making mine an asset though!

[wigwammer] 11/10/2018 17:55

Fair enough, sea. There are also significant intangibles not accounted for - like the stock dam - where in terms of estimating the size of resource and appropriate methods of extraction, some progress has been made. I have little doubt the sector as a whole has long been neglected - it may not require a great change in the fundamentals to see a meaningful rerating :)

[sea7] 11/10/2018 17:43

I think you will find the GKG has been "firefighting" for most of his tenure and the fact that shareholder equity is virtually unchanged, under the circumstances is an achievement in itself.

With exception of kili, there is very little of historic issues to clear from the balance sheet or sort out, so we will be able to see what Gerard brings to the table in the coming months and years.

[wigwammer] 11/10/2018 17:13

I mean shareholders equity in the balance sheet. GKG hasn't generated any increase - he has reshuffled the assets owned, quite possibly for the best, but the shareholder equity figure itself is the same as when he joined. ROE=zero. Fingers crossed this changes over the next 3-5 years.

[kimboy2] 11/10/2018 16:44

I thought the share price was around 2p when he took over.

[wigwammer] 11/10/2018 15:12

I do find the lack of equity growth over GKG's tenure of interest. I can accept that the assets may now be better organised, but they haven't grown and there have been no payouts from memory. A better arrangement of the deck chairs perhaps!

[wigwammer] 11/10/2018 14:50

Fair point, kb

[kimboy2] 11/10/2018 14:30

Well the gold price in rand terms has increased by about 10% in the last 6 months.

Anyone care to estimate the increase in value of the stock dam or the profitability of GDP as a result.

[kimboy2] 11/10/2018 14:24

Given the stockpile of material they have as well as the stock dam a $100 increase in gold won't be far off increasing the stock value by the market cap.

[michaelfenton] 11/10/2018 14:23

wigwammer - all true but only if or when the pog rises.