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Markets have at last reacted favourably to the buy back programme, albeit the extension of it. The initial parameters were too small in scale so it's encouraging to see the Board have reacted by extending the purchase of cheap shares.
£200,000 worth of shares that may be bought between now and end of June will underpin 8p in the weeks ahead. A further extension of the buy back programme into July onwards remains possible also
11-Apr-22 08:24:33 7.34 250,000 18.35k
Looks like they managed to get todays order in!
At last the board is on the track. They just need to get their financial advisors to turbo charge telling the story. Simply wall st values GDP @ 40p; Guru focus @27p. My own ( conservative ) dcf@36p. Our problem is our market cap is so small. The rand is appreciating vs £sterling & gold price near high so further potential tailwinds to the price. Hopefully we cross 10p soon. Delighted we are retiring shares at such deep value.
This is gonna get interesting real fast..haven’t seen the book this heavy in ages.
I’m going with 12p, by Friday.
Due to the rules of the buy back GP can’t pay more than 5% more than the average price last week. So today’s buying probably just speculators (or market makers) front running the buy back. I would prefer dividends as share price increase due to buy back might well be temporary in nature.
No surprises then?
Great news. It feels like this has plenty left to run and run. It would be nice to see a series of extensions.
The SP is clearly well below fair value and surely must drift up from here. Who in their right mind would be selling when the company are hoovering up shares themselves. Key is to sit tight and just let the SP rise to something more reflective of true value
Hi, new here. Whats peoples forecast on this share price short term ? I mean, with an extended buy back scheme this will surely push the price up reducing the Mcap at 200k per month ? Looks a good punt to me...
Further to the Company's announcement on 29 March 2022 which outlined the Company's share buyback programme, Goldplat plc, the AIM listed gold producer, with international gold recovery operations located in South Africa and Ghana, announces that on 8 April 2022 it purchased through WH Ireland Limited a further 60,000 of its own ordinary shares of 1p each ("Ordinary Shares") at a price of 7 pence, which will be held in treasury until cancelled. The Company has now completed the purchase of its target of Ordinary Shares to the value of £198,940 . The Goldplat board is currently considering extending the buyback programme and a further announcement will be made in due course.
Second time today, no online quote, over the phone only. Possibly about to move the ask up again.
My humble advice to you would be “FILL YOUR BOOTS”(I certainly have). From my experience at SLP, once the announcement of policy to continue share buybacks happens, the only way is up. There really isn’t the largest free float on this share.
Buy my calculations we are generating £400k per month in FCF, that’s some serious ammo to throw at share buybacks!
By my calculations that’s the final £4ks worth.
Hasn’t done much to spark the SP. Let’s hope a continuation of share buybacks are announced, and have a more desirable effect on appreciation of our capital.
Definitely one of his better ones.
We’re Undervalued by at least a factor of 3, and if we continue our current growth, you can make a case for 40p.
why pace themselves? ship them in and make it £1 mill , the company generate enough FCF
I hope you are right - Goldplat can get a much better return from buybacks and investment in further stock/TSF than I can from receiving cash.
Will a modest share buyback on an illiquid stock that’s historically under performed move the needle ?
I’m not convinced - though I fully agree with Werner & the board that GDP is significantly undervalued. However it doesn’t help when the CEO cannot hint/ guide on future prospects. At no point in his presentation did I get a clue on future volume,pricing, margins or free cashflow. How can busy investors gauge the undoubted value ? He needs to learn the corporate dark arts to complement his strong operational bias. Also the house broker need to get the finger out. The current forecast is embarrassing & Werner signalled that. WHi, get a sensible update out soon.
CEO buying could help certainly, Klingenberg is most qualified on the financial side of things. But then again one of the directors already holds about 28% which will increase to almost 29% following completion of the circa 3 million shares buy back.
The decision to buy back shares likely encouraged by our largest holder and director Martin Ooi. The website states he "intends to focus on capital allocation decisions and helping to maximise the per-share intrinsic value of the company". A regular dividend while better for shareholders works against his intention to build value in the share price so I'm guessing future dividends will remain low, yielding 1-2% at least this year anyway. Hope I am wrong about that.
Maybe the CEO should buy some as he feels we’re so cheap. Couldn’t have as bad effect on the SP as the “buyback scheme”!
On a side note, I’m as certain as can be we will get a dividend come full year results, but it better more than a poxy £200k!
Share buyback isn't going to last long at this rate! 700k shares (£50k) today and the limit is approx £200k. To spark a reaction here they may want to raise the buyback limit to £500k and pace themselves over months rather than days..
Did anyone attend the ShareSoc presentation yesterday? Any news from it?
Are we able to watch the presentation and questions still? I've had no luck finding a link
It's only H1, what do you expect? If the shares have low value then a share buyback is a better use of funds in my opinion and would expect at least another 200k buyback after the full year. That's 3% of the free floating shares gone.
Agreed. A side effect may ba a rise in price due to greater investor interest. After all there is money in the bank, and a PER of 5!
On a positive.
He really pushed the fecking boat out on this one !
Would be better as a divy....