Goldplat Share Discussion Threads

[kimboy2] 22/10/2018 16:34

Well we will be getting some sort of operations update this week as well as the AGM. What can we expect?

All eyes will presumably be on Kili as that is clearly the problem child. I would expect if the number of ozs produced is around 1350 for the quarter and it will be around break even. Above or below will be profit or loss, the scale depending on the difference.

We may get an update on a potential investor on Kili. It would seem at first sight unlikely given that there is a dispute on the acreage. However a couple of things occur to me;
1. The settlement with Red Rock today would suggest that the government is recognising the error of its ways.
2. The most likely buyer/investor is likely to be Chinese so may not be troubled by the dispute. ISTM that £8m would be a cheap price to pay for a producing gold mine and a strategic invesment in Kenya.

On South Africa and Ghana it is difficult to come to a conclusion about profitability from the production figures as it all depends on what they are paying for the material. It would be good to see some build up of inventory at Ghana to give a bit more confidence about forward profitability.

It may be that we will hear something about the TSF. It would be good to actually get some figures to avoid the speculation. My view is that the profit will be greater than the present market cap, but we will see.

As nothing is in the share price for it then whatever it is can only be upside.

[sea7] 22/10/2018 09:01

rodson sweating it at lion after announcement of delisting - another stock delisting rodson - not a bad record - afpo,alo and now lion - you really know how to pick them. (sarcasm)

[snakesbelly] 22/10/2018 08:38

https://m.youtube.com/watch?v=St3z3DW6N6w spend you time fixing this instead of your trouble making on these boards and save the tax payers some money

[kimboy2] 22/10/2018 07:09

Red Rock seems to have got the Kenyans onside with regard to Migori;



It was a disappointment and we believed an injustice to us that external factors then created obstacles in the way of following up this progress.

Wouldn't be surprised if it was the Chinese.

[ironstorm] 21/10/2018 13:27

Next week it is then. Kili at break even or the clamour to kill Kili will take hold.

I hope the former, I fear the latter.

Even if the former a decision needs to be made on it.

[michaelfenton] 21/10/2018 12:47

Correct DDave4.

[kimboy2] 20/10/2018 18:37

IIRC Lamming put it on care and maitenance with limited processing to cover costs and it lost £700k.

If they were going to dump Kili the time was 5 years ago.

We shall see what the numbers bring next week but if they can get it to break even, which should be more than possible, then that is a million pound benefit to the bottom line.

[sea7] 20/10/2018 12:25

no - russell is over at keras resources, with Brian Moritz, goldplats former chair

he is a geologist, who put kili on care and maintenance because the kenyan authorities had gazetted local ownership of 35% of assets, about a year earlier, such as kili and goldplat
decided they could not get it to the 10k ozs they wanted, with their self funding strategy, reduced that to 5k ozs and then retrenched everyone, as they wouldn't invest in it, with the prospect of having to cede 35% hanging over their heads.

We know the 35% bit was reduced and is likely to be 10% - gerard feels that there is an asset worth producing - we are in a situation whereby the kenyans are likely to shoot theirselves in the foot again, by messing about with investors assets.

We shall see what transpires, however, GKG is at the helm and so far, we have seen good progress on most fronts. Kili is still being a drag, however, there will come a point where it either becomes profitable, or they shove it back on care and maintenance and watch all the locals continue to mine it themselves, illegally.

[michaelfenton] 20/10/2018 08:43

shareholder - well I agree I am losing faith in GKG and Kili is a huge concern?

[shareholder7] 20/10/2018 08:12

This board is changing from a rampers board to one of genuine concerns from genuine shareholders about what is happeningKill Kili is now a common concern and I agree The issue is what are the hidden costs to closing this down or can we get anything for it ?It was GKG that convinced major share holders that Kili was worthwhile as GKG is a miner and that's his comfort zone If we don't Kili kill GKG needs to go and replaced with a commercial minded CEO Shame Lamming did not live in SA as he put Kili on care and maintenance and his mission was statement was "Profit not Gold"I would vote for him to be on the board to protect the shareholders interest anyone else agree?

[sea7] 19/10/2018 20:49

see this guy works for ntolo tailings and ...

In 2016 I build a new tailings facility in Kenya for Kilimapesa gold. I have had a lot of experience in the field of operating and building of tailings facilities and the construction of new facilities.
ZINCOR EXXARO BASE METALS-SPRINGS , POORTJIE-NIGEL , Kilimapesa gold-KENYA , Goldplat -BENONI,

[sea7] 19/10/2018 20:33

Not sure if these are still holding - page 29 8.95m shares goldplat..as of jan this year. They paid 7p for them.

[ironstorm] 19/10/2018 20:05

Kill Kili.

[1rodson] 19/10/2018 16:49

Dollop lollipop it's only money you fools off to the country for the weekend enjoy your drab little lives lololololololololol

[applegarthlse] 19/10/2018 16:03

BETTER THAN THE DEAD DOG CALLED LION LOL !!!!!!! YOU MUG PEASANT !

[snakesbelly] 19/10/2018 14:09

rodson aka dan miller you seen LION RNS ! you've lost all your money there ! couldn't happen to a nicer person

[michaelfenton] 19/10/2018 14:01

Facts concerning Kili? It has been a bottomless pit losing money for many years and shows no likelihood even now of being a moneyspinner? I have no idea why GKG wishes to soldier on apart from the fact that he refuses to admit his mistake.

[kimboy2] 19/10/2018 12:53

I am not saying it will break even. I am saying what it needs to do to break even.

As for substantial economies, one would be grid power for a start and clearly stage 3 and increasing economies of scale would be another.

[russman] 19/10/2018 09:52

Well the qtr trading update was 1 day after the AGM.

[kimboy2] 19/10/2018 09:33

Well the problem with forecasting Kili economics is taking out all the one off factors from the last year. This is a bit of a Lemony Cricket list which includes closing plant 1, presidential elections, excessive rainfall, lower grades, unreliable artisanal, various stoppages etc.

By the month of June, the last of the FY, the plant did 445oz and was close to breakeven.

Despite this the plant still was operating at only 90%, grades were still not as forecast and they were getting 120tpd from their mine as opposed to 180tpd they are currently processing.

As a result I would say, ceteris paribus, a production from Kili of around 1350ozs for the quarter to be about break even.

If they can get the plant working fully, grades to improve and increase the output of the mine, on which they are all working and improving, then the mine will produce a decent profit.

The point about stage 3 is that even if some things go wrong they will still be profitbale because they have sufficient margin.