Share Name Share Symbol Market Type Share ISIN Share Description
Goldplat Plc LSE:GDP London Ordinary Share GB00B0HCWM45 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 7.40 25,000 08:00:28
Bid Price Offer Price High Price Low Price Open Price
7.30 7.50 7.40 7.40 7.40
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 24.81 -1.97 -1.87 12
Last Trade Time Trade Type Trade Size Trade Price Currency
08:06:46 O 25,000 7.50 GBX

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Goldplat Daily Update: Goldplat Plc is listed in the Mining sector of the London Stock Exchange with ticker GDP. The last closing price for Goldplat was 7.40p.
Goldplat Plc has a 4 week average price of 7.05p and a 12 week average price of 7.05p.
The 1 year high share price is 9.15p while the 1 year low share price is currently 5.25p.
There are currently 167,441,000 shares in issue and the average daily traded volume is 169,378 shares. The market capitalisation of Goldplat Plc is £12,390,634.
camerongd53: My thoughts on the update Overall, it was in line with my expectations - the water power etc and profitability issues had previously been signalled. Good to see them disclose cash & loan positions although there must be a good reason why they have not repaid the loan! The update was in my opinion long overdue - having got most of the quarterly updates previously out well within a month, no reason was given for leaving 6 weeks post the quarter end to make the latest announcement. I believe that the delay in the announcement has had an adverse effect on sentiment and on the share price which has been very erratic and negative and possibly contrary to the underlying trading fundamentals. I expect a further improved cash position at the June y/end and hopefully a return of buybacks or divi which will hopefully improve the share price. Cash position can be significantly affect by tax payments stock building, tax payments capital expenditure and working capital movements. I don't expect any large movements in share price before the y/e reporting (July to Sept) unless there is good progress on the TSF
kimboy2: They seem to be talking in riddles on the TSF, and I expect deliberately so. My interpretation is that they have someone, presumably local, who will take the stuff and process it. The problem being that they are wanting to charge too much for it so GDP are saying it is decision time. The advantages for GDP are that they get the stuff off site and clear more area for tailings, as well as probably getting it done quicker and the cash earlier. Against that saying that the new stock dam is a pre-requisite would suggest that they are going to do it themselves. They still have not produced any figures for the TSF which would suggest to me that both options are still viable. On the other things in the report the fall in SA operating profit is not surprising. I would expect that they are processing material bought at higher prices so there will be a headwind. The good news is that further progress has been made in building up stocks of inventory. I think the target was 5 years of supply so we are over half way there. The deal in Ghana regarding tolling and processing has been so long in the gestation that I am not sure any of us will live to see the happy event. Anyway it will be good news if it happens and I am sure that there is loads of potential material in Ghana. Margins seem good in Ghana if they can get a reliable supply, and preferably a stockpile of material.
shill10: correct, Lowtrawler - so Mayflower can't back out of the transaction now though and has raised the £4.5 million cash (£2.5 mill subject to Papillion listing). If the listing doesn't go ahead Mayflower is on the hook for the £1.5 mill due to GDP. So from a GDP shareholder perspective its all done, no way Mayflower would have agreed to this unless they were 100% committed and able to complete all payments,
lowtrawler: MF, I'm also fine with what they have done but as I read the situation: 1. The only cash currently handed to GDP is 150k repaying the initial loan on restarting production at Kili. 2. The unfinished transaction to sell the operations has been replaced by a completed sell in return for a debenture secured over the assets of Mayflower. Previously, if Mayflower failed to complete the transaction, it would simply have been cancelled and GDP would have retained ownership of Kili and would need to chase Mayflower for costs. Now, if it's cancelled, GDP will need to enforce the debenture to recover the assets and associated costs. In return, GDP no longer have to get involved in any aspect of the sale process or mine operations leaving them free to concentrate on continuing operations.
lowtrawler: ds2, I think the dividend policy will depend on what Martin Ooi wants. Once planned debt repayment and investment is take care of, they should still have spare cash. If it can be invested in GDP for a higher return than Martin can get elsewhere, great. If not...... If I were Martin, I'd look at a potential 1p dividend and the likely impact of that on the share price. In my view, the share price would rise 4.5p and possibly more, together with the 1p dividend, that's a 5.5p return, pretty much doubling his money. Take another 0.9p as a special divi for kili.......
lowtrawler: MF, PPHP are just a shell and their past history has no baring on what is happening. As Kimboy indicates, they will likely already know who is going to invest and how much. The delays are around getting the prospectus approved and it is always difficult to know timing for that. My guess is they will pay us £1.5m cash rather than us retaining an equity stake. At current share price, we have a market capitalisation of under £13m. If we get £1.5m cash for Kili, that's only £11.5m based on trading. We should be making around £4m net profit at current mineral prices and so less than 3 years trading - never mind that we have much more valuable assets. Whether you look at asset values or trading cash flows, the share price has a long way to rise. If the TSF adds to our operating profits, the ratios will start to look very silly. I still like the idea of GDP paying the £1.5m kili proceeds as a special dividend (0.9p) and then 1p per annum as a routine dividend. It should still leave them plenty of spare cash to develop the business.
dangersimpson2: With the gold price strengthening & capital flowing back into the sector, I think the market makers got caught short of stock here since even small buys have been moving the price. Should get Q3 results by the end of the month plus finally the listing of Papiilion which will give the read through for the GDP stake. Hopefully these will begin to push the share price above recent highs.
kimboy2: Well it wasn't me. The approval for the stock dam is due shortly and once that happens, and they start on reprocessing, then GDP share price will start to reflect its assets.
lowtrawler: If they receive cash for Kili, I see no reason why they can't pay that out as a special dividend or use the proceeds to buy-back shares. Similarly, with EPS of 1.45p, no reason I can see for them not to use, say 1p, for a dividend or share buy-backs. If they do both, that would be the equivalent of buying back 20-25% of our shares or providing a 20-25% dividend. Even with gold trading away from the highs. Having sold Kili and restructured, they should be reliably earning well over 1p per share to maintain an ongoing buy-back / dividend of around 1p. Thus, with a special dividend / buy-back of over 2p this year, there could also be an ongoing 1p meaning we could fully recover the current share price over 6 years. Of course, such a dividend policy would likely take the share price well over 10p once signalled.
camerongd53: I note from today's RNS that GDP has the choice of £1.5m cash or £1.75m worth of shares when seelling Killi. or cash Do you think GDP take the shares in Mayflower/Papillon ? The shares could be distributed to GDP shareholders who could either keep them or hold on in the hope that the new management could make aa go of running Killi. If they choose cash we can only get cash back either through a buy back or as a dividend. Anybody got any thoughts? I would possibly at the moment prefer the Mayflower/ Papillon share option I suspect it is not our decision but it will be greatly influenced by what Martin OOi wants
Goldplat share price data is direct from the London Stock Exchange
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