Member Info for ChameleonMan

I would urge anyone who has not already done so to support Nick in his sterling efforts to protect the interests of we PI's. You will gain a much clearer insight on the company and working together we are in a much stronger position to influence the BOD.

Was in a meeting when the web-conference was on. Had a look at the corporate presentation - more of a hash than a rehash? Someone needs a spell-checker and a grammar checker! Cant even spell Kilimapesa correctly on the structure charts! Can someone tell me what "Continue to evaluate smaller Burkina Faso and Ghanaian gold projects to be best realise value monetise these projects either through joint ventures or trade sales" actually means? "We will endeavour to muddle through" is the message I am getting.

..all at £2.47 on Tuesday (33% up from March purchase), phew! The loss of value since has been brutal and I sympathise with all here still holding- its very rare for me to get my timing right! Will repurchase at the usual ~£1.60-£1.70 bottom which at this rate of decline is only a matter of days away. Its the only way to play this share with no dividend to hang around for. Thanks to the recent surge, there is still a potential profit to be made for anyone getting out now.

I am hoping for some joint venture news on Kilimapesa and a "cabinet reshuffle" to give more confidence to major investors to start buying in. Not too much to ask surely? Just make sure you stay invested to reap the rewards of your patience!

Hi Casual, I'm also invested in CRND (makes Goldplat look like a winner!). Can't help I'm afraid onlyto express the view that I believe it is perceived as a very small project for Goldplat. Doesn't get much coverage or discussion here. Best of luck with CRND!

It's a worry of course but but more of a weeping sore than an open vein? We need to remember that there is ~250,000 oz gold JORC compliant resource in Kili, owned by us and waiting to be exploited. I believe a development partner can be found without too much difficulty but these arrangements take time and patience. Randgold are looking for just such opportunities in this area (see my earlier post). Can you imagine what that would do to the SP if it were announced? Agreed this is a time of deep disillusionment but often the perfect time to buy?

" How hard can it be to dump Kenya, and just focus?" According to Goldplat's 2013 financial report, Kilimapesa Gold Pty have loans and borrowings of £1.642 m. If the loan did not come directly from Goldplat, I would imagine it would at least be underwritten by the parent company. Hence it is probably quite hard to exit. On the upside, if a partner can be found and soon, the result would be transformational and "the trudge back to double digits" may well be faster than you expect!

"Accsys Technologies (AXS) announces that its Tricoya joint venture with INEOS Industries has extended its agreement with Latin American building products business Masisa for its Tricoya sustainable wood panel products for a further two years. We maintain our buy recommendation" 4/6/2014. Moneyweek reported the buy recommendation in 13/6/2014 issue. Hardly a surprising tip given Accsys' determined steady SP growth curve.

I opened up this morning at -15% thinking there had been a large block of shares sold but trading was minimal. I am guessing that this was marked down heavily this morning by market makers on some crude notion of impaired value resulting from the profit warning, e.g. "the profits down 15% so we will knock the share price down 15%." Clearly they underpriced it and gave us a golden opportunity to top-up. Having said that, the news is dissappointing and although the Ghana problem will no doubt resolve itself sooner or later, the issue of Kilimapesa festers on. I am beginning to wonder whether there is sufficient resolve on the current BoD to make the tough decisions required to stop Kilimapesa haemmoraging cash? How long are the BoD prepared to wait to find a partner? The company has no debt, great, but why rule debt financing out when here is a project which presumably offers an acceptable rate of return? If it doesn't offer a reasonable return, then what partner will be interested anyway? Is the BoD too rooted in past values, pride and prejudice?

Looking at last weeks heavy short selling of gold contracts it would suggest that the gold price is due to recover soon as these shorts close. Always difficult to judge but I feel there is some relief on the horizon for gold miners in general. Some positive movements elsewhere today but pretty flat again for GDP.

Partner for Kilimapesa? That would lift our spirits somewhat? From Mineweb 2nd May 2014: http://www.mineweb.com/mineweb/content/en//page34?oid=239642&sn=Detail Randgold to study Kenya's gold potential The gold producer is especially interested in territory just across the border from North Mara in Tanzania. Randgold Resources Ltd., a producer of the metal in Africa, will start a study of Kenya’s gold-mining potential at the end of this month, the country’s Mining Secretary said. “We’re coming to work with the minister of mines and look at the geology,” Randgold Chairman Mark Bristow said in an interview at the Kibali gold mine. “There’s some gold potential in Kenya, particularly down the south just across the border from where North Mara is in Tanzania.”

Broker WH Ireland retains its Buy recommendation and 12.00 pence price target on the stock. The company has been through a challenging period "but has reacted well to the fall in gold price and has new contracts in place with suppliers to give it a more flexible raw material pipeline," says Paul Smith, an analyst at WH Ireland

Finally we have an update which matches up with the the confidence shown at the investor presentation. "A return to profitability" is good to hear and the realisation of a JV on Kilimapesa ahould drive the price much higher when it is announced. Some wider media coverage would also help. I am surprised that we have not seen a substantial rise this morning but this has provided another opportunity to top-up confidently on the back of good news. Hopefully the last averaging down in this cycle!

"Kilimapesa Gold, which is owned by London-based gold firm Goldplast, is expected to begin smelting the mineral into high-grade bars from mid-morning tomorrow." Well....have they? Is it true or some over-eager reporting? Or some rehashed information from last year? There is no back-up of this story from Goldplat even in terms of a press release on their website (let alone an RNS!) at a time when some good news is long overdue. Seems the BOD are happy to see the share price low for reasons unknown to us (for now at least)?

Not the disaster I was fearing. We are still trading. Production output down but not too bad considering the shutdown; mining cash costs down and forecast to be down for the year; carbon blinding circuit starting to tackle high-grade ore in July... Admin costs stubbornly high though and the financing remains up in the air. We are holding it together for now at least!

I have it in my calendar for Thursday. A bit of a rise today in anticipation?

I think many shareholders are regrettably suffering from a crisis of confidence in the board of Goldplat at the moment. What is required I believe is evidence that they are acting in the interests of shareholders rather than themselves otherwise I fear that this could get very messy very quickly. With the heavy share selling and inevitable questions arising, a picture is emerging of rats leaving a sinking ship. Some communication, as promised at the London meeting might begin to correct that impression. i hope this is posted before it is too late.

I thought the gist of SP Angel's bulletin was that the major selling was all done? Am I alone in thinking that their information was a trifle misleading?

I'm not so sure. The trade is a minus value effectively reversing the previous sale on 11/11. It may be replaced by smaller trades of course but possibly the conditions of the sale have not been met e.g. finding a buyer for them?

.. I meant to say up 10percent!