Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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Added to my position today and feeling more confident this will be a standout performer in the coming months.
Quarterly Update on the twelve months ended 30 June 2021
The recovery operations combined operating profit
Q4 2021: £1,080,000
FY 2021: £5,300,000
Of particular note Ghanaian based profits are 100% up on last year as the groups profile expands and the risk profile is more evenly spread across operations and the respective countries. Note the mention of progress with suppliers and government agencies in neighbouring Burkina Faso and Mali beyond.
Not included in profits was the £1.1 million of unrealised profit in gold material produced and stockpiled, yet to be sold. The equivalent figure at year end 2020 was £0.4 million. This partly explains why profits from South African operations were much lower than expected despite production coming in above the average of the last 8 quarters during Q4. Grade controls agreed with major suppliers for the foreseeable future and new gravity circuits due to be installed will increase gold recoveries, commissioning expected this quarter.
The £1 million Scipion loan has been repaid during the course of the past 12 months and the outstanding sum settled post period end (20th July 2021). Cash position largely unchanged year on year, however net cash position has increased during the year thanks to debt reduction and the substantial amount of gold held at year end.
".. returns in the first quarter of the current financial year in South Africa to benefit from the sale of the stockpile of gravity concentrates at the year end." i.e releasing gold stockpiles will unleash a surplus of cash on the balance sheet this quarter.
Kilimapesa sale complete and no longer a drain on company resources will have a net positive benefit in future quarters. We have a $1m stake in Papillon, who are listing on the LSE shortly and following their recent cash raise have £5.5 million with which to develop the Kilimapesa project. The market has been excited by companies like CORA recently for their aggressive exploration programme and results which will work favourably for Goldplat, if the something similar transpires with Papillon stock.
Time to start paying a Dividend methinks?
https://www.londonstockexchange.com/news-article/GDP/quarterly-update-update-on-12-months-30-june-21/15086605
Werner Klingenberg, CEO of Goldplat commented: "I am pleased to report continued profitability in the Group and expect returns in the first quarter of the current financial year in South Africa to benefit from the sale of the stockpile of gravity concentrates at the year end. The regular supply into Ghana remains encouraging, but even more so the increased engagement in neighbouring countries creating the potential of future supply. With the sale of Kilimapesa, the Group will focus on growth and diversification within its recovery operations, whilst remaining cognisant of its goal of distributing value to shareholders."
49m @ 15.55 g/t Au
o including 8m @ 89.12 g/t Au from 99m in hole SC0484
· 32m @ 7.83 g/t Au
o including 4m @ 53.86 g/t Au from 45m in hole SC0488
· 12m @ 6.37 g/t Au
o including 5m @ 14.17 g/t Au from 95m in hole SC0485
· 32m @ 3.25 g/t Au
o including 4m @ 10.18 g/t Au from 72m in hole SC048
Thank you for posting! Good to hear Werner highlighting the positives of gold recovery services over mine operated projects.
RTO of Mayflower all but complete and the benefits for future growth explained.
Share buy back scheme of minority shareholders will generate more revenue for the group in future as well as intercompany loan giving more control back to the company.
Trading on a P/E value of 4-5 not including dividends to come but soon to become a cornerstone of Goldplat with regular payouts to shareholders.
Short but sweet!
Dear all, please find a link to our video interview with Goldplat CEO Werner Klingenberg. He discusses the share buy back from minority shareholders and the sale receivables from Kilimenpesa. https://youtu.be/jkzBZAS4e6s
Been here a long time too andsoforth. Core business has generally been really solid but wasted a lot of money on Kili. Nice rise today with some positive news. Boom, boom, boom, we're off to the moon. Lol.
its basically like a share repurchase at 18p+. One could argue that they should have just gone into the market to buy, but we all know that with the illiquidity they would never have got anything like this size. Perhaps we will see small share purchases from them now, given that they have effectively bought GDP shares at more than double the share price today.
Some great tidying up work by the CEO and most importantly some clarification on dividend policy for a highly profitable company. In the next operational review some more specifics could be made about the timing and amount of the maiden dividend and ongoing dividend policy e.g. the payout rate expected.
Good posts. Agreed, none of the latest news is priced in. This share should have been double figures ages ago. Gold mining stocks not in vogue. Think cryptos got alot to answer for! hedging against inflation using crypto! Nuts. Inflation is Gona b major prob going forward imho. Gold at near record highs, profitable gold miner on aim, close to dividend. Hells bells market, wake up!!
this values GDP stake in GRL at c £18mill or roughly 12p a share. On top of that there is Ghana making c£1 mill a year, Kili (£3 mill inc royalty) and then the TFS - even this sleepy market can't ignore the fact that GDP got funding for this - expect at least 12p, perhaps 15p in coming days.
Hi benniboy. As this looks better on paper, so the price should rise. I am a long term holder too, from before Killimepasa was bought in, so not much to sing about. Perhaps this can go back to paying that wee dividend off the back of the recovery operations. I see Martin Ooi is still holding his chunk, so I will do the same myself.
The transaction simplifies the group structure for Goldplat, raising its ownership in its principal profit centre, keeping in the shareholding structure one of its long-term supporters and increases its share of a £4.5m intercompany loan by 16%. We welcome news on a potential dividend from Goldplat to its shareholders. The gold recovery business in South Africa has been a stable revenue generator and with precious metal prices at record highs, and with production and revenue growth expected from the Ghanaian recovery operation, we expect a stable dividend going forward. We will look to update our numbers following the completion of the transaction announced today.
This looks ok to me. And Kili looks ripe for ramping.
https://www.londonstockexchange.com/news-article/GDP/corporate-transactions-and-dividend-policy/15064994
Werner Klingenberg, CEO of Goldplat commented: "I am pleased to announce the share repurchase agreement with the minority shareholders in South Africa and the share sale to Aurelian. I believe this will provide Goldplat shareholders with the best value for use of the cash generated in the Group. The transactions place the Group in a position to start sharing the results of its operations with shareholders through declaration of dividends from future cashflows".
"I would like to thank Amabubesi and Dartingo for their contribution and support as minority shareholders and am delighted with the ongoing involvement in Goldplat and GRL of Mr Ntsaluba".
One man's stagnating is another man's consolidating. Historically $1800 + is a pretty decent level. However, agree re: the delay, same old story. On paper GDP is a decent investment, in practice I should have stuffed the money under my matress for the last ten years.
Papilion positive on buying Killi from Mayflower, and note PPHP indicate a company name change by late Sept. 2021
"Mayflower and Goldplat have specifically agreed to waive completion of the RTO as a condition to complete the Acquisition with the cash and share based consideration due to be made on the earlier of completion of the RTO and Papillon's reinstatement to trading on the London Stock Exchange under the proposed new name of Caracal Gold plc, or by 30 September 2021."
https://www.lse.co.uk/rns/PPHP/transaction-update-acquisition-of-kilimapesa-xqqd41l8ggd8qgm.html
With the gold price stagnating, why should anyone want our mine? Yet another disappointment.
Typical of Goldplat - everything is extended and yet another banana skin. Can they please tell us if this situation will ever be resolved to OUR satisfaction?
I always feared this deal was dodgy? Now what?
Ref. RNS 30 April 2021
. In the event that Papillon is not re-admitted to trading on the LSE by 16 July 2021, the full initial consideration of USD1,500,000 will become payable in cash and will attract interest of 4% with effect from 1 January 2021.
Normal BS , KEEP shareholders in the dark and feed them ****, shouldn't someone say something !!!
like one of our directors and a bunch of guys have walked away from their obligations
Are we going to get news after the market closes? Today is the deadline or am i missing something? Someone added 100,000.