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£200K vs £12M market cap is indeed underwhelming but at least it indicates a willingness and shift to rewarding shareholders. Hopefully more to come in the future.
I’ve bought in this morning. Looks well undervalued and the buyback should start to propel some momentum here, especially given the illiquidity.
Good look all, hoping to see 10p+ In the next couple of months.
Slightly underwhelming, but good luck trying to purchase £200k in this, the most illiquid share on AIM!Would have preferred a dividend, cheap barstewards.
This will be worth up to £200,000! Wow! (Not!)
https://www.londonstockexchange.com/news-article/GDP/share-buy-back-programme/15387590
The comment on the uncertainty of the war in Ukraine is typical of the mindset of this Board? They like to receive their inflated salaries and **** the shareholders? Safety first is the mantra when they are not frittering away excess cash?
The Interim results would have been very well received but for company's decision to increase it's stake from 76% to 90% thereabouts. A strategic long term decision no doubt but the short term impact has meant it's taken the shine off what what was undoubtedly our best H1 that I can recall! As others have said, with the gold price trading and no imminent capital expenditure of the ordinance blown in the first half we should begin to move up into double figures. A dividend announcement may come in six months time also.
Interesting to note the group's comment on the Russian war in Ukraine: "Whilst the Group's trading expectation for the remainder of the year is currently unchanged, it is worth noting that the impact of the Russian invasion of Ukraine is posing a significant challenge to the global supply chain industry. Whilst Goldplat has no activities directly connected with Russia or Ukraine, the long-term effect of the conflict on the Group is uncertain."
Can anybody foresee the conflict affecting operations either directly or otherwise?
Looks like the hoped for divi has been postponed?
https://www.londonstockexchange.com/news-article/GDP/notification-of-investor-webinar/15374643
so the market cares more about FCF and profits, rather than dividends that obssess the bungling Majors on here - EPS 1.19p. Expecting better 2nd half due to higher gold price, let's be conservative and say 2.5p full year. With 2.5p per share of cash then, that leaves the business on a p/e of 2. Crazy cheap.
“I am pleased with the continued strong operating results achieved by the group, but even more so, how this is translating into increased profits and earnings for the -----------------owners of Goldplat Plc
I.e the managment. ...
Even a biannual 2% divy would be something.
If this continues we need a new CEO more aligned with the shareholders and the sooner the better.
Was thinking the same thing. It has to come up in the end of year, Gcat will be producing 2k Oz's plus of gold by then and the board did mention of at least the royalty of that being paid to shareholders.....
No mention of Dividend? or am I missing something?
https://www.londonstockexchange.com/news-article/GDP/interim-results-six-months-ended-31-december-2021/15373610Goldplat achieved an excellent result for the six months ended 31 December 2021 including: • Increasing operating profit, against the six months ended 31 December 2020, by 28% to £3,334,000 (31 December 2020: £2,600,000); • Doubling of net profit from continued operations attributable to owners of the company to £2,071,000 (31 December 2020: £1,013,000);• As a result of increased performance, the fully diluted earnings per share for the six-month period doubled to 1.19 pence per share (31 December 2020: 0.59 pence per share), and;• The group cash balance (net of overdraft) remained strong at £1,640,000 (30 June 2021: £3,459,000). Werner Klingenberg, CEO of Goldplat commented: “I am pleased with the continued strong operating results achieved by the group, but even more so, how this is translating into increased profits and earnings for the owners of Goldplat Plc
ShareSoc is hosting a webinar with Goldplat plc (GDP) on 29 March 2022, which may be of interest to current shareholders or potential investors. Werner Klingenberg (CEO) will be presenting. You can register here: https://www.sharesoc.org/events/sharesoc-webinar-with-goldplat-plc-gdp29-march-2022/
"especially as we expect Goldplat to eventually re-join the ranks of dividend payers."
This has been the message for some time now, the question is when and what dividend?
Goldplat plc (GDP) – Corporate – Operational update for the half year ending December
2021
Market Cap £11.5m Share Price 6.7p
Goldplat today reports a strong half; it reports operating profit from its two plants of
£3.8m up from £3.0m in the same period last year. At the end of the period, Goldplat had
£1.5m in cash with a significant balance in inventory and debtors, with £3.8m in its
operating entities. Goldplat is a unique business generating value from the wastes
produced as a result of precious metal mining.
In South Africa, costs were down and the gold price received was up. Operating profit
for the period was £1.9m (£2.1m). A PGM stockpile was built up and a dedicated plant
for the production of PGMs was under construction and expected to be completed in April
2022 for a cost of ~£0.3m. A pipeline application was also put in in October 2021 which
will be used to pump the existing tailings to another 3rd party plant for processing.
Ghana continues to expand and become a more important part of Goldplat’s business. In
the period Ghana generated £1.9m (£0.9m) of operating profit with increased production
from materials from West Africa and South America. To maintain momentum in Ghana,
and in light of various political upheavals in some neighbouring countries which could
impact or delay supplies, Goldplat is actively seeking to invest in upgrading low-grade
waste and warehousing in Brazil to service its South American opportunities. This
opportunity in Brazil will cost up to $0.3m.View: We view today’s announcement as an endorsement of the strategy of
Goldplat management to make the most of its plant in South Africa (steady production)
and diversify and increase the supply of material into its Ghanaian plant (operating profit
growth). Cost control is an important aspect of this strategy against the volatile gold
price. We continue to see Goldplat as a growth company, but one which generates a
steady stream of cash. We see fair value at 10.6p (calculated as a simple average of
EV/EBITDA for FY 2022E of 4x and Goldplat NAV FY 2022E), especially as we expect
Goldplat to eventually re-join the ranks of dividend payers.
With the interim results due soon, & with a clear strategy on “returning value to shareholders”, and gold price now north of £2k, and factoring in that we may realistically make more profit (after tax this year, than our current market cap..we should see a significant re-rate.
It’s slightly better than that “the 6m profit is was achieved in the first 2 quarters”, so annual profit could be something like 12m(pending on average gold price!)…sorry for being pedantic!,
If you annualise the 2Q profit (since GOLD PRICE IS NOW ABOUT $200 HIGHER THAT'S an underestimate), you get £6mill profit after tax for a £12 mill company - with £4 mill+ of cash. IN A YEAR GOLDPLAT will have £10 mill of cash and still be making £6 mill a year. All this with zero value to 82,000 oz in the TSF (worth a gross of £112 mill). This is madness and cannot last - either we rocket to 20p+ asap or someone takes this thing over, you are buying pound notes for 20p here.
what nonsense - Werner has been cautious about getting his ducks in a row to ensure that a dividend is 100% sustainable - the performance since he took over has been outstanding, especially Ghana. You will eat your words come the Interims in the next week or so.
A number of posts on ADVFN have suggested that Goldplat is operating mainly for the benefit of the board of directors , 'lining their own pockets ' but not for the benefit of the shareholders. I regret that I tend to concur with this opinion.
The minority shareholding in the South African operation was acquired. Sensible but at almost three times market value, A little dubious perhaps.
The Kilimapesa mine was transferred to a company now Caracal Gold for a nominal consideration with the involvement of Gerrard who appeared to be acting for both companies - seemingly a conflict of interests. Caracal Gold whose main and indeed only asset is this mine is now valued in excess of Goldplat.
There are continued vague and unhelpful statements made by Goldplat's management particularly regarding the position and value of the South African tailings and even more unacceptable regarding future dividend policy.
I would strongly suggest that when the company issues its next trading statement that a number of outstanding issues particularly dividend policy are dealt with clearly , specifically and professionally
The current gold price is strong, Goldplat is trading profitably and has cash reserves. Their share price should be considerably higher. This must reflect mainly on current management. It is important that the BOD of smaller companies is considered not only to be efficient but also one that acts with total integrity to return value to shareholders not a stagnating share price and zero dividends.
Gold above $2,000, back of the envelope this is on a p/e of below 2 ie earnings yield of over 50%. Pus cash will now be c£5 mill and mkt cap is £13 mill. It will trade 25p this year.
Looks like with increasing volume today, we’re getting ready for a brake-out next week to new highs..
hardly a big deal - much more important is Ghana's performance, outstanding, stripping out cash we are on a p/e of 2, 1p dividend (0.5p now and same at year end) incoming, buy before the news hits.