Goldplat Share Discussion Threads

[shareholder7] 15/10/2018 13:25

I was pointing out that we owed money and that if we closed down Kili we would lose this loan which would destroy the balance sheet

[kimboy2] 15/10/2018 12:47

There should be an operating update next week. I think the figures for SA and Ghana will be good. The question is over Kili.

It is always difficult to translate the recovery production numbers into profitability because it all depends on what they pay for the material. It is easier with Kili and I reckon that they need something like 1350ozs to break even, unless they have found substantial economies.

If we are targetting a 10p SP, at which we have a market cap of £16m, then an attributable profit of something like £2m will be required.

If they can get Kili to break even and Ghana processor fed then they should do that. On top of that there is no write off hopefully, an incremental improvement at SA and less on interest should see us well over the £2m target.

In addition there is the deus ex machina of the stock dam which could add up to £16m attributable by itself once completed.

Presumably it won't be valued at zero then.

[kimboy2] 15/10/2018 11:12

The market may well have written them down to zero but clearly the company hasn't. Presumably it is something around these numbers which punters are discussing an investment in Kili.

Just about the valuation for the wholeof GDP.

[sea7] 15/10/2018 10:54

that is because shareholder, I expect other people to find out the answers for themselves, however,

kili owes £5.08m to the holding company Gold Mineral Resources,
kili owes £2.9m to goldplat recovery.

[shareholder7] 15/10/2018 10:26

Do we have any intercompany loans?I am surprised by your comments sea as you are such a detailed personIf we pulled out of Kili there would be further costs to settle liabilities and write offs

[sea7] 15/10/2018 08:37

shareholder - kili was written down some time ago.

[kimboy2] 15/10/2018 07:48

In this sample of AIM constituents, the average total remuneration for CEOs was £311k, while the median average was £241k, a comparison that reveals a 23% disparity. Meanwhile the upper quartile was £382k compared to £164k for the lower quartile,

[1rodson] 15/10/2018 07:47

Cough harshly and you will throw up a mouthful log Green Gilbets and even when you sneeze you may get a lonfpg thick stingy one dangling from you nose and very difficult to pull out being as slimy as they are.

So why pay 186 grand a year for one that does nothing except embarrassingly hang on to you face?

[kimboy2] 15/10/2018 07:20

IMV it would be a bad sign if he had taken them up as it would indicate he intended to cash in. At the moment they are worth £150k, if the price gets to 10p then they would be worth £550k.

I don't think his salary is large for an AIM company.

[michaelfenton] 15/10/2018 05:49

Yes he has these options but does not appear to have taken any up? Options are only useful if the share price rises? he has a large salary for such a small company. Options reward you further if things go well which at present they are not?

[kimboy2] 15/10/2018 05:25

He has 8,000,000 options;



I always thought he would make more from his options than from his salary.

[michaelfenton] 15/10/2018 04:23

One thing I do not like about GKG situation is that he has virtually no skin in GDP apart from his large salary. When the bosses are in this situation skipping ship when things get bad is easy?

[sea7] 14/10/2018 21:46

Aurigin raised C$540k in a special rights issue in November 2014 - a few months before Gerard took over at Goldplat and stated that he would be stepping down from Aurigin.

what gerard said at the time....

Gerard Kisbey-Green, President & CEO of Aurigin commented ‘On behalf of the Executive Team at
Aurigin, I would like to thank all the shareholders that participated in the special rights issue during
these difficult times. We continue to seek funding to enable us to continue the exploration work in
Ethiopia and will keep shareholders informed as we progress’.

[kimboy2] 14/10/2018 19:44

On another subject I notice that the Ergo plant is 6.5miles away from GDP as the crow flies. Is that near enough for a trucking operation?

[kimboy2] 14/10/2018 19:06

I think I should be paid for this, but sadly not.

The point about Kili is that it can be made profitable with present facilities, but that it doesn't need many things to go wrong. Expanding would give a greater margin of safety.

One thing that hasn't helped is a 10% fall in the kenyan sh gold price in the last year.

[kimboy2] 14/10/2018 18:14

“they protect future production”.You are an idiot.

Seems self evident to me that the inventories are future production, though that could well be because I am an idiot.

“Manolis did this much”. Did he?, post up proof.



Item 20 in the blurb

They need to spend £2m to get Kili profitable in order to sell it...

I don't think that they need to spend £2m to get it profitable, neither do I think it has to be profitable to sell a share of it.

...but they haven’t got any funds...

They have funds but have decided to deploy them elsewhere - an inventory for a start.

Not so long ago you even posted that they didn’t need additional capital to get Kili profitable, you talk complete rubbish.

I don't think they do.

Yeah right just like you kept saying that the RR issue would not cost GDP a penny!.

RR paid GDP around £0.5m to settle the dispute