Goldplat Share Discussion Threads

[ironstorm] 23/1/2019 17:13

Anything to go right.

The company have lost their mojo. They need to find imaginative ways of unblocking the issues.

If they don;t and quickly then need new leadership - with a fresh approach.

Feels very stale management.

[kimboy2] 23/1/2019 16:37

Well I would presume if people were offered 8-10p then they would take that with the share price in the threes.

The question though is what is it worth. The way I look at it is what sort of income could it produce.

If we take last year as break even then it could be improved by;
1. Kili breaking even - +£1m
2. Repeat 2017 profit in Ghana - +£1m
3. TSF - +£1.5m pa for 15 years
4. No write off - +£0.3m
5. No large forward financing - +£0.5

IMV none of these are impossible. If GDP could produce a £3m profit or so then eps will be 2p. On a modest p/e of 8 we would be up to 16p.

At 3.5p it looks like pie in the sky, but it just needs a few things to go right.

[shareholder7] 23/1/2019 08:33

What price Sea would you be happy with if GDP was taken over ?

[michaelfenton] 23/1/2019 07:17

8p maybe I would listen. Company has substantial assets that it is not utilising? For me it is the management that brings me disquiet. Always failing to deliver on their optimism?

[sea7] 22/1/2019 20:36

Hi DD,

By the way - goldplat has "spent/invested" over £10m at kili now.

[sea7] 22/1/2019 20:33

Mark Austin left goldplat some years back (he was group geologist) and runs Applied geology and Mining(Pty) Ltd, an independent geological and mining consultancy based in South Africa

AGM Ltd also carried out the assessment on the TSF at the benoni plant in 2015.

[sea7] 22/1/2019 20:31

kilimapesa - resource statement October 2009 extract..

This announcement has been approved for release by Mr Mark Austin. Mr Austin is a geologist and has more than 25 years relevant experience in the field of activity concerned. He is a fellow of the Geological Society of South Africa ('GSSA') and is registered as a Professional Natural Scientist in the field of Geological Science with the South African Council for Natural Scientific Professions and has consented to the inclusion of the material in the form and context in which it appears.

The orebody modelling was undertaken by Mr Corne Fourie, a geologist of 12 years direct industry experience and more than 5 years experience on modelling using Datamine. He has consented to the use of his modelling in this announcement. The author and practitioner of the underground resource estimation report, who has consented to the inclusion of the resource statement information reported in this announcement, is Mr. Dexter Ferreira , a senior geostatistician with over 19 years experience in project evaluation internationally, including extensive involvement with mineral projects throughout South America and Africa . He is a member of the South African Council for Natural Scientific Professions, and qualifies as an 'Expert', 'Competent Person' and 'Qualified Person' as defined in National Instrument 43-101 and the JORC Code. The results of the surface deposits evaluation were previously reported in October 2007 and were the subject of an Independent report by Shango Solutions of Johannesburg. The geostatistics in the report were performed by Dr Carina Lemmer, PhD (Stanford).

[sea7] 22/1/2019 18:32

you could always sell at the open tomorrow shareholder and move on.

Hansie stated when he joined Goldplat that he was not ready to be CEO, just yet, however, maybe one day - he was asked at the time.

To replace all the circuits in the South African operation it would cost more than the current cap, so no I would not be happy with 6p.

[shareholder7] 22/1/2019 17:53

GKG was the only person that had a mining background when he joined.Hansie is not the answer, he already had a go at that and he is no CEO To me the only way out now is to sell the group Lets put this to a vote How many people would accept an offer of 6p7p8pI would be happy with 6p and move on and put this mess behind me

[michaelfenton] 22/1/2019 17:27

GKG has a mining background so he must take responsibility for Kili failure so far?

[kimboy2] 22/1/2019 16:15

There is always Hansie to take over.

Kili has clearly gone wrong and money has been invested in it and it hasn't performed to expectations. In fact it has underperformed expectations since its acquisition.

The question is how much of the problems are due to operations at the plant or decisions at board level. I have always thought that for such a small plant getting good management in the plant would be difficult.

Most mines have feasibility studies done by competent consultants and they iron out the issues prior. Presumably for such a small mine such an expense couldn't be justified.

The one good thing about Kili is that the market values it as a negative asset. If they locked it up and threw the keys away this would be viewed as good news. If they can get some real good news, such as an investor willing to put $3-4m in, then that may have a significant effect.

If someone did this then it would change a loss of £1m pa to perhaps a similar profit within 18 months or so - if expectations are to be met. You can't blame someone for doing their DD though before they put money in.

[shill10] 22/1/2019 15:39

If they don't come through with a deal for Kili after all the delays, think GKG will have lost what remains of his credibility and he will have to go.That to me will be a positive for the share price, assuming they can get someone half competent to come in, only needs for things to stop going wrong for SA profits to flow through to the bottom line.

[kimboy2] 22/1/2019 12:06

Well we know that GDP has 82kozs in the TSF. What we don't know (other than when) is how much the processing will cost.

If the processing cost $900/oz and they got 50% recoverability then the TSF is will produce profits to GDP above the present market cap.

I believe that the processing costs will be less than $900/oz and am hopeful recoverability will be above 50%.

We will see, eventually.

[ironstorm] 22/1/2019 10:38

Well if we are guessing, my guesses are that Kili is still losing money despite POG rise.

Also Sourcing still an issue as they negotiate on the above and the TSF, well its anyone guess.

So I can understand why the company is priced as it is.

Happy for the company to tell us otherwise but it seems news? Alas there was none.

[kimboy2] 22/1/2019 10:21

Well the gold price increase in rand and kenyan shillings isn't guesswork, nor I believe is that Kili is not on C&M.

The issue of a potential investor is guesswork, but the altenative guess is that they have made it profitable. Don't think that there are any other possibilites.

As for losing faith I though virtually all hope had been given up. The South African operation is worth a multiple of the present GDP mkt cap if all else fails.

[michaelfenton] 22/1/2019 09:16

Kimboy. A lot of guesswork in your post? In reality we are all in the dark until GKG and board make an announcement. I personally am losing faith.

[kimboy2] 22/1/2019 08:50

The gold price has been pretty helpful recently being up over 5% in both SA and Kenya.It will certainly be helpful in Kenya which I think is still producing.

Presumably we will get a quarterly update next week and presumably something on Kili. I would have thought the liklihood is that they have an investor(s) in tow as I believe it was the intention to announce that it was on C&M.

If there is to be a deal I would not think that we are far off signing something by now, presuming someone is showing interest. Anyway hopefully we will find out next week.

The other things that will be of interest will be the stock dam and the supply of material to Ghana.

Given a market cap of £6m or so and no debt it won't take much to go right for a significant turnaround in share price

[sea7] 21/1/2019 15:36

This was posted last year, on the NEMA website...



Kilimapesa Gold Mining

Early this year there was a pollution incident at the gold mining facility where 20 cows died as a result of drinking contaminated waste water from the facility. The Board had an opportunity to evaluate the effectiveness of enforcement action taken by NEMA to prevent further pollution. The Board is not satisfied that the facility has put in place adequate pollution prevention measures to protect the environment. As a result, the Authority is working on stringent measure to ensure the company fully complies with the environmental requirements. This will apply to all gold mining facilities in the country because they use very toxic chemicals. The board has also directed that such high-risk facilities should have permanent environmental health and safety experts at all times as a requirement for licensing.

[1rodson] 19/1/2019 03:34

TheREALapplegarth18 Jan '19 - 16:33 - 4837 of 4837 (Filtered)

[1rodson] 18/1/2019 08:53

This sounds like appalling management?
IronStorm18 Jan '19 - 08:06 - 6454 of 6455
0 0 0
And no more news on C&M. Months go on. Targets are missed. Tumbleweed rolls.

Is anything of substance happening. I fear not.

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Yep just as I have been saying for years and years. Meanwhile much to my disgust both KB2 and Shyt7 have been ramping the guts outta the dog much to the disadvantage of shareholders.

Their total ignorance of the dog share has led me to filter them out permanently as they have not of interest to say....is any persistent ramp interesting?

I see there are both there again right behind lionstorm18 comments on the other BB with yet more worthless ramps no doubt!