goldplat GDP7 Mar 2022 21:44
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.