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I'm reasonably confident they'll manage it. It will be interesting to see how Kili progresses over the next couple of years. The prospectus looked very impressive and on the face of it, the resource looks like excellent value particularly in comparison to some AIM goldies. My only concern is that gold miners seem slightly out of favour on the market even with the POG holding a reasonable level. Pleased that GDP will be concentrating on the core business that they've shown consistently they can operate profitably. A lot of money has been spent on various 'mining' projects over the years so without that drain we should see some decent shareholder returns going forward.
Thanks bennyboy looks like we are getting close, but what about the $4M capital raise?That looks like the last and crucial ellement.
Update RNS on pphp re Kili.
And possible special dividend distribution
Looking for 10p+ on Kili sale transacted
I can't buy any on HL at the moment but on IG they are quoting 8.4p
100,000 buyer loading up still.
Deal done?
NT to buy now
Goldplat selling Kili...........to:-
Mayflower Investments
https://static1.squarespace.com/static/5f4faf276217c27eb3470ca9/t/6033c8eab139980fcf1bfdf4/1614006509877/Caracal+Gold+February+2021.pdf
Deadline 31March.
£12m market cap
£7.6m PGMs on hand and due to be sold next quarter
£2m cash on hand
Making operating profits of £2.66m in the first half of the year and expected to increase in second half.
Sale of Kilimapesa and retained holding of roughly 30% with no future costs
Will be adding to my position :)
Good question. If profits continue along the present line then a Dividend is needed to ramp up the attraction of GDP and is the best PR they can use. Once the value rise then funds may become interested?
https://www.londonstockexchange.com/news-article/GDP/update-on-sale-of-kilimapesa/14895718
Werner Klingenberg, CEO of Goldplat commented: "I am pleased to report these positive developments in the sale of Kilimapesa, specifically the consent to the acquisition of Kilimapesa received by the Ministry for Petroleum and Mining. Together with the confirmation received from the Competition Authority, it puts all parties in a good position to complete the Transaction.
Rubber stamped by Kenyan Authorities as expected. But good news none the same.
Slowly but surely...
Useful info posted TODAY by Kimboy2 on A***N
11:24 Can't really get the previous years eps to add up either. I tend to work from the profit anyway and we are on a p/e of around 4.5. Talking of profit I notice that the precious metals on hand has increased by about £3.8m, and judging from Werner's video most of that seems to be coming from Ghana. Given a 20% profit margin that should give a useful boost for the next quarte
Even the Analyst(s) conclude that GDP is improving and optimising operations. If cash or profit is king then annual profits for last year are near £6m. And the MC is £12m. Is it me or have the MM's have undervalued GDP big time.
I have sold all my gold shares except for Goldplat. Goldplat share price is currently 7p, H2 2020 fully diluted earnings per share 1.17p, PE ratio of 3. They have sorted Ghana out and are generally re-orientating the company as a pure gold recovery play. The continuing losses from Kilimapesa should soon be over. One to keep in the bottom draw and await a recovery in the gold price.
View: Improvements and optimisation in Goldplat’s operations and supply lines are beginning to pay dividends. Especially in Ghana which continues to drive Group improvements with operating profit up 5x from the same period last year. With a robust and strong gold price environment, despite a recent reduction in price, we expect this to be another good year for Goldplat. We also expect a resolution to the sale of Kilimapesa, which will see Goldplat with either $1.5m in cash or $1.75m of shares in the purchaser
Had a quick gander and a lot to take in. It seems we are in a consolidatory period? Quite a lot going on and as a consequence profits down a tad apart from Ghana which finally appears to be a useful and expanding operation in a much friendlier tax regime? Currency always a worry? I will hold on for the future and hope that we can declare a dividend at some point this year?
https://www.londonstockexchange.com/news-article/GDP/interim-results-for-the-six-months-ended-31-dec-20/14888796
Group
• Goldplat achieved an operating profit for the six months ended 31 December 2020 of £2,600,000 (31 December 2019: £2,566,000). Within this, the South African operation achieved an operating profit of £2,108,000 (31 December 2019: £2,659,000) and the Ghana operation increased operating profitability by more than 5-fold to £849,000 (31 December 2019: £151,000);
• The fully diluted earnings per share for the period from continuing operations increased to 1.45 pence (31 December 2019: 0.63 pence) as a result of increased performance in Ghana, increasing net profit from continuing operations attributable to owners of the company to £1,256,000 (31 December 2019: £536,000).
Outlook
We remain committed to our strategy of increasing long term visibility of earnings in the recovery businesses through key initiatives. These key initiatives include:
• improving our gold recoveries from lower grade contaminated material, effectively reducing the grade of the material we will be able to source economically. Reserves of lower grade materials are more readily available and help to alleviate the sourcing risk;
• Building strategic partnerships within the mining industry;
• Evaluating the investment into larger tailings storage facility and additional mill and leaching capacity to enable us to reprocess our current TSF; and
• Increased investment into sourcing initiatives and test work on a wider range of materials, including PGM discards.
The company's production has remained satisfactory, to date, during the second half. The profitability for remainder of the period will however remain dependent on sourcing of quality material and the gold price.
Hopefully the board read comments and will pay a good dividend...it will transform the share price
Meant 1p seems unlikely!! I can't really see any reason if things keep moving as they are there is justification for a dividend particularly as Kili is no longer a drain but the management is cautious. I'd expect something around 0.2p (£ 350k cost). There's been a lot of talk of shareholders return by management and as the SP hasn't exactly moved much over the last 10 years a regular divi would be a good start. I'm hopeful that we'll see something when they know the FY picture. Capex of 900k for tailings facility extension but should still have a significantly improved cash position by year end.
What are they going to do with the profits f thee don’t start paying substantial dividends.......they have no plans for big capital investment.
0.1p seems unlikely but certainly should be scope for a dividend of some sort assuming the second half of the year is similar to the first 6 months. Looks like that is about the only thing that is likely to significantly move the SP. Once the restructuring is done, reduced tax liabilities should also free up some cash for a dividend.