Goldplat Share Discussion Threads

[kimboy2] 09/2/2019 19:13

Perhaps Shareholder has already offered his services as a non-exec?

[1rodson] 09/2/2019 17:02

Short term its going where I said its going. Minus 2p!

No matter what Shyt7 or KB2 RAMPS!

[discodave4] 09/2/2019 15:14

ps if no positive news on Kili in the Interims then this could see all time lows.

[discodave4] 09/2/2019 15:10

Hi shareholder,Truly hope you manage to get more support and call the BOD to book over their appalling performance. Sadly I think it will take a very long time to recover your losses, hope I'm wrong.You are spot on about the BOD not buying at these lows, doesn't inspire confidence. The last buy was GKG in Oct 2017 (yes 2017) and even then it was less than £10k's worth.Looks like H1 results are going to be dire:"While we reported very positive production and sales numbers for the Quarter, unfortunately we don't expect this to be sufficient to make up financially for the continued losses at Kilimapesa and poor first quarter of the financial year-- this will be reflected in the Interim announcement scheduled for 25 February 2019." BUT Kili is still losing and they seem to be happy with that rather than putting it on C&M!.....unbelievable.DD

[shareholder7] 09/2/2019 11:52

Yes DD it is all very strange especially Sea as there are far better shares to trade the ups and downs than GDPOnly sea knows but to me probably low value investor with a few £k at the most and possible ex employee We are starting to get a few better posts here from genuine shareholders and why not, they can't be happy seeing the same old thing over and over againI think this share has one or two more moves to come If GKG gets ride of Kili or shareholders WAKE up and reshape the board and kick off the old farts and engineers and become a commercial organisation I will attend next public gathering and start to push if other shareholders get behind me For now I am down £31k but have cover this and more by trading Softcat as per sea's strategy.Interesting that there is no directors share buying after the last RNS which says all you need to knowHave a good weekend and bet you are pleased you are out of this mess?

[shareholder7] 09/2/2019 09:53

Last part of this post went wrong but there is no editor What I wanted to say is we are not in a strong position to negotiate on Kili unless we have two companies interested If we only have C&M and one interested party this is not going to be good for usAlso what does the Kenyan government want, this on their only gold mine Would they take a stake

[shareholder7] 09/2/2019 09:48

Morning DDAt the end of the day true shareholders are now getting worried and want change.If GKG does not deliver on Kili then this is the time but what to do ? If you look at the board it has not changed much and this needs a shake up I would do two things 1. get rid of some of these techie non execs and get a commercial person on the board with sales experience 2. Invite Praveen Baijnath ceo of Rand on the boardThe first thing I would do is get close to Rand they are the senior partner, they have the materials As a shareholder I would want to know what the view is of GDP from their side. All we get is the view from GDP side Ian falls out with them and they stop processing stuff and we nearly went bust GKG sues them which we all knew where that was going We have an ego issue here that the loser are the shareholders If shareholders want to see this share recover we need real change and change of attitude Proper compensation plans for the sourcing people that get paid on results Proper pricing schemes that incent customers to push forward materials when GDP have spare capacityWe have a board of academics and we need a real change Anyone else want this share to go up ?Unless GKG gets lucky but we are not is a great position to negotiate in Kili unless we have two companies interested How about selling it back to the

[discodave4] 08/2/2019 19:41

Hi shareholder,I completely agree, but the BOD just want an easy life and GKG just wants a hole in the ground to play with.Some of the posts on the other thread do make me chuckle, especially those from the paid ramper KB2, just keeps saying the same things irrespective of the facts........the main one being this is a tin pot outfit run for the benefit of the vastly incompetent BOD.Oh well, hope the rest of your portfolio is doing a lot better.DDPS and the rampers insisted the RR issue would not impact GDP or their ability to source raw materials.........pmsl.

[shareholder7] 08/2/2019 13:18

And by the way what time are you teeing off as I might join you as I am on £185k regardless

[shareholder7] 08/2/2019 12:58

Hi DD This is because Gerard dose not have a sales background You don't need one if you are mining but you sure do if you need to fill the pipe line with materials So here is the day of the sourcing guy say on a salary of £50kGerard how's it going souring guy, are we getting in any material today Sourcing guy not sure I have not had a call from anyone Gerard Ok Gerard why don't you offer an incentive to get some more materials in this week as we have spare capacity, we could offer an extra 10percent margin for themSourcing guy No they only send us stuff when they want to. Still of £50k a year whether stuff comes in or notAlso I have a game of golf this afternoon Gerard Ok

[sea7] 06/2/2019 08:16

The TSF isn't going anywhere and is a resource to be developed.

The former owners of west pit 3 are aurora empowerment systems, who shut down that mine, haven't paid the workers from years ago, it is still subject to a court case. The Directors at aurora are also related to Jacob Zuma, the former president, along with mandela's nephew and a few years ago, security services at west pit 3 shot and killed illegal miners

The sequestration of a former directors assets to pay the miners in this case began last month and is the latest chapter in a saga that has been running for over eight years. The link below also has a number of articles regarding this matter.



Some history....



Five security personnel were involved in the shooting in which four illegal miners were killed in West Pit 3, the abandoned open pit mine that belongs to Aurora Empowerment Systems, according to the head of Delta Blue Security, Freddy Fourie.

and



President Jacob Zuma’s nephew, Khulubuse Zuma, and the grandson of former president Nelson Mandela, Zondwa Mandela, are on Aurora’s board.

And...




“It is simple… if you go out there and steal gold, should I just go down on my knees and pray? It doesn’t work like that. We have to protect our assets,” Aurora Empowerment Systems commercial director Thulani Ngubane told Sapa on Friday


He said in telephone interview the “illegal” miners were trying to gain underground access by force.

“They (the men) had guns and everything… these illegal miners got shot going down underneath by force. Tell me what more our security could have done?” Ngubane asked.

..................................

All taken place next door to goldplats operations and in the pit that goldplat want.

This saga is drawing to a close and another director is being subject to sequestration proceedings this month.

This pit is the best option for goldplat as it is next door.

I would not blame goldplat for the ongoing saga which delays the TSF being processed, as they want that pit more than any alternative option.

[ironstorm] 06/2/2019 08:01

Sea from where I sit it's more of the same.

I have no doubt the company is busy doing stuff. But it's not actually achieving much quickly enough.

I hope you are all right on Kili, recent history says otherwise.

As for Ghana they are not offering anything different - more of the same.

And the TSF maybe they are waiting for a better deal but it's just another thing they are not delivering on.

Getting one of these right would have seen a price improvement of varying degrees.

Unfortunately MORE OF THE BLOODY SAME.

[sea7] 05/2/2019 21:38

ghana does fine carbon and mill liners, which was 9% and 1% respectively of the business prior to the cessation of the other 90%.

The fine carbon can be 300g/t-400g/t, but can be upgraded to about 500g/t.

There is competition in south america for the fine carbon supplies, so goldplat does have to bid in this country and it is a relatively unknown entity there, hence oretec and locals employed to assist in sourcing...

some of the sourcing team in Brazil...






Goldplat also leverages its contacts at Anglo gold in africa, to have its voice heard at Anglo golds operations in Brazil.


Goldplat has registered itself as an interested and affected party for the cons modder mine in south africa, which filed its EIA last year... Gold one subsidiary getting a mine going. This is a plan to be involved in getting material here..



..........

Is there more that could be done to secure feedstock - well, the large mining houses I have mentioned, so it leaves the smaller private mines, which goldplat reaches out to for further material. With many closing up business, the number of mines still generating waste is less now.

As said before, ghana is fine carbon and mill liners only, however, they have the pilot plant processing the tailings from the spirals, whilst The environmental clean-up project (Kyebi) remains on hold pending work being finalised by the Government appointed steering committee.

Goldplat has

environmental clean up ghana ready to go- waiting for government approvals
TSF almost ready to go - awaiting government approvals.
Kili progress - awaiting decisions from outside investors.


These are outside of their control and are frustrating to say the least.

There are plenty of places to search for feedstock, however, it must be balanced against regulatory hurdles or political climate and competition in other countries, especially when you want to export gold bearing material out of a country.

[shareholder7] 05/2/2019 20:13

You must be able to offer deals to push materials forward Once you have lost production you can't get it back it's like selling consultancy, you miss a week you can't recovery I bet with a commercial mind you can do something Need to be banging down doors living with the customers and giving offers to ensure plant is full and flowing You know this business but I am not convinced we are doing everything we can commercially to get waste

[sea7] 05/2/2019 19:55

After Gerard took over, the stock initially hit the all time low of 1.75p, then climbed to 8.5p in Jan 2018.

We enjoyed an uninterrupted run over that 2.5 years on the stock, which appreciated over 350% in that time.

Sure the stock is down and the wheels seem to have come off a bit. Gerard is working hard behind the scenes and I am sure we will see traction in the stock again.

[sea7] 05/2/2019 19:37

They are not just fronting up about sourcing, it has been going on before Gerard arrived.

In ghana, they used to toll process artisanal material at endeavour, they also ran a CIL plant - the incinerator/spirals section was 10% of the business.

The government put a stop to third party processing - that was the end of the toll processing.

They moved to ban small scale mining, which put paid to all artisanal material. The first step was only permitting those on the smale scale miners government approved lists being allowed to send material to goldplat. This was the first step in the government regulating the industry, before they decided that an outright ban was needed.

The CIL section suffered an environmental breach, the company was fined and could no longer have this section running. They had to organise the removal of the entire stock pile of material that was destined for the CIL plant from the site as well.

This left the entire ghana operation reduced to 10% of its former size - that being the incinerator and spirals sections. They only got to keep that running by agreeing to remove the CIL section and accept quarterly monitoring for 18 months.

Gerard took over after all this mess started.

They have been clearing the GRG site and expanding the spirals/incinerator sections, as well as installing the elution column.

This entire division of Goldplat plc nearly collapsed just before Gerard took over.

They are trying to source more material for the incinerator and spirals section than they were initially planning to go for, however, circumstances dictated that
either they expanded this aspect of the operation or it closed.

When seen in conjunction with the refusal of rand refinery to take dore from ghana to process back in late 2014 and goldplat was unable to ship it to benoni, as the elution column was at capacity, they weren't even paying suppliers for the feedstock.

The situation was critical in ghana and that is not an underestimation.

Demetri had walked out after a boardoom bust up, Ian had upset Rand Refinery. Gerard was meant to take over as non exec chair, the change from designated NEC to CEO in feb 2015 was sudden and needed, based on the situations being faced.

[ironstorm] 05/2/2019 19:19

S7 has talked about incentives for sourcing and been roundly condemned for not knowing the industry. Well who has been right.

Only now are they fronting up problems re. Sourcing. But if you listen to this board that's just the way it is.

Why am I here? Clearly core business has value in excess of m/cap. But valuation been heldback by Kili debacle and not able to execute well outside the core. Am hoping hoping for something to stop negatives around and let the world see the real engine.

Hope tho is a bad strategy. I want some action. GKG has lost my confidence after a good start.

[ironstorm] 05/2/2019 19:15

At this company not much is as I would want.

Kili needs killing.

Ghana needs kicking.

TSF needs pushing.

SA needs freeing.

[sea7] 05/2/2019 18:49

waste of time shareholder - unrealistic in this industry - they are not buying used cars or selling pc software.

It is no use tying results to grades purchased. The overall final grade is only known once the whole batch is processed and as goldplat blends material to maximise the circuits production, then it isn't always able to ascertain precisely how much gold was recovered from each component processed, once mixed together.

A sample is taken, independently assayed, the supplier keeps one sample, Goldplat keeps the second and a third held by the assayer. This is one area of bargaining, goldplat will always err on the side of caution, as the expected grade may not extend throughout, whereas the supplier will pitch higher, claiming that it is good grade throughout.

They cut the deal based on assay results and an assumption of how equal the grade is likely to be throughout the whole consignment.

Goldplat has accounts with nearly all the major houses in South Africa. The contracts are structured so that they will send material to goldplat when they have generated enough to justify the transport costs, however, they are not under any obligation to send material to goldplat. Agreements are in place, however, they are not binding, as the mining houses will not be tied to onerous agreements. They are not stupid, they know roughly what the waste is worth. They have little time for salesman, when they know what to expect already.

Some of goldplats material is bought outright and can sit on site for many months, as a strategic reserve and only bits of it get processed as and when needed - some can be on site for years, as more is added to the pile as and when purchased.

Some material is given without any deal being cut, however, goldplat will simply charge the standard processing and treatment charges as per their tariffs and return all gold recovered to the supplier.

The competition here is who does it the cheapest for the supplier - goldplat will turn some away if they want too much.

Goldplat will sometimes not charge for processing upfront or aftewards, however, will cut a deal on gold recovered, such as 50/50, or on a per tonne processed, against gold recovered rate basis.

If you understood the industry as well as you do software, then you would realise that things are generally not done the way you would like them to be.

[shareholder7] 05/2/2019 17:52

Sea do you work there ? Might explain a great deal I for one, see what is happening, can see the expectations, the aspirations and the work being done to "right the ship"Gerard found another refinery.He is a very good front man Sourcing is the problem Here's is a compensation plan Pay a percent of Gross profit to a team of material hunters. This incentive will make them go for best gradesUse the people they have as part of the sourcing team and keep them on basic salary Set targets and assign a list of accounts Incent with accelerators if they bring in more than target Only pay when we get paid but put them on 3 month recoverable guarantee or longer if process takes 6 months etcFire them if targets are not hit