Member Info for SEA7

http://www.proactiveinvestors.co.uk/companies/stocktube/6039/goldplat-ceo-we-dont-need-high-gold-price-to-make-money-6039.html

Some highlights. Net cash position at y/e of £2.56m against £630k last year. cash generated from operating activities £2.44m against £131k last year. Net current asset value increased from 1.8p per share to 2.11p per share. proactive view.. www.proactiveinvestors.co.uk/companies/news/166435/goldplat-swings-to-a-profit-in-glittering-year-166435.html

proactive view... www.proactiveinvestors.co.uk/companies/news/122798/goldplats-turnaround-gathers-pace-122798.html extract.. Cash inflow It’s helpful, of course, that this is a company that is generating cash and likely a lot of it given the strength of the second half performance.

An unexpected and brief update. The "market expectations" in the VSA note were way understated. Since listing goldplats profit/loss before tax (to end june each year) is as follows... 2015 - loss £796k 2014 - loss £248k 2013 - profit £207k 2012 - profit £5.24m 2011 - profit £3.42m 2010 - profit £1.94m 2009 - profit £2.40m 2008 - profit £1.62m 2007 - profit £751k This figure of £2m to end june 2016, putting the one off rand issue to one side means that we have finally emerged from the woods and are seeing levels of profitability, not seen since 2008/2009. Back in July 2008, the share price was 9.5p, gold was starting its climb up. We have a lot more to come and we have nearly two months worth of revenue already booked since the end june.

Yep, having not heard anything since july, this fund raising by ashanti does indicate a commitment to the project. I expect we will hear something about it soon enough.

I see that ashanti gold corp has raised cash to explore the anumso concession... Dated 16th August 2016 http://www.stockwatch.com/News/Item.aspx?bid=Z-C:AGZ-2398977 The net proceeds from the placement are intended to be used to finance the exploration costs related to the earn-in agreement on the Anumso property, pursuant to the letter of intent with Goldplat PLC, announced on July 13, 2016, as well as for general corporate purposes.

clainy - the link is for randgold resources, which is nothing to do with the refinery. This is rand refinery's website.... http://www.randrefinery.com/

goldplat have been trying to get a j/v partner for kili, however this has been hampered by the lack of clarity over the mining bill and the fact that it is small and loss making. The mining bill has been passed and goldplats position over kili is becoming much clearer. There is a plan in place, to install the CIL plant from ghana to kenya, which should bring it to profitability. The second stage of this plan is to have a j/v partner, however, the company may end up go it alone.

yep, goldplat retain upside, whilst GSR carry out work at their cost.

whilst not accepting material in august, does smack of sour grapes, however they could simply be replacing a cylinder, which costs around three weeks production. Or they have a larger customer who is taking up the capacity. I guess we won't know the answer to that, yet, if ever.

They do take the smelter offline each quarter for bearing changes and are likely to schedule any maintenance around this. This article refers.. http://www.miningreview.com/news/rand-refinerys-cylinder-covers-reduce-costs-and-prevent-downtime/ “Our gearboxes used to fail quite often due to the harsh conditions and our bucket elevator experienced corrosion, which meant that we had to replace bearings every month. Since we started using the Filter Focus supplied lubricants, we only need to change them once a quarter.”

Shareminator, I agree, it has come as an unwelcome surprise, it is unfortunate and unwanted, however, this is where we are. Tthe alternate facility has been continuously used. The amount of material sent to aurubis has been less of late, as rand were taking more of it. However, as they have stated they will not in august, then it is simply a case of sending the material to aurubis, as all the documentation and processes are in place, up and running and in use already. The whole point of the alternate route, was to remove the "single refiner risk" that existed before and caused the company so many problems, when rand could not process material for goldplat for nearly a year. As for it being costly, we are not there yet. They stated after legal advice, they have sent a demand letter and will initiate processes to recover the money owed. They will obviously weigh up the cost of taking things through a court against the probability of recovery of the money based on the strength of the case. For the record, goldplat have not initiated legal proceedings against rand yet. They have simply sent a demand letter, off the back of legal advice obtained and will await a response. The additional costs in sending to aurubis, are transportation and time. We await development updates.

Shareminator, This is where knowledge of the recent history comes in to play.. The alternate plans are in place and have been for some time. Material is being sent to aurubis in germany, as it has been for months. The companies in house capacity has been expanded over the last year, which mean more can be processed in house. The pipeline at rand was two to three months for concentrate, whereas aurubis in germany is five months. There are some additional costs in transportation. The bullion refining using rands same day/two to three day service has never, ever been interrupted.

This is a dispute over a few invoices regarding the toll contract. Rand have paid some of the invoices but not all. The regular bullion refining is unaffected and they are continuing to accept material for the smelter for this month. The contract has been completed and the circuit has been freed up for use, for stockpiled feedstock again. Aurubis will be getting more material again.

Unlikely they will comment on it. If you read Keras's plc statement regarding this, as Brian is involved there.. extract.. Brian Moritz, the Company's Non-Executive Chairman, has been made aware that European Business Jets plc, a company of which he was formerly a director, was placed into liquidation in February 2009, within 12 months of his resignation. ............................... The give the indication that he has just been made aware of it and it is being declared. I suspect there will be no further comment about it.

Thanks clainy, have a good weekend also!!

I note that, following on from the new mining bill, goldplat has applied for tax exemption on the CIL plant for kili... http://www.standardmedia.co.ke/m/article/2000205403/kenya-launches-aerial-survey-of-its-minerals/?pageNo=1 Relevant part of article.... And in another development, the UK gold mining firm producing the precious mineral in Kilimapesa area of Narok County has sought tax exemption on new equipment that it is shipping in to double processing. Goldplat has applied to the Mining Ministry to be allowed to bring in the multi-billion Shilling worth gold processing plant, citing that the benefits accruing to country would far outweigh the tax bill.

I see that the mining bill has been assented to, by the president. http://www.mining.go.ke/images/banners/pressstatements.pdf http://www.standardmedia.co.ke/ktnnews/index.php?videoID=2000109378&video_title=business-today-15th-june-2016-what-kenya-s-new-mining-act-portend-for-nascent-industry In the interview, he specifically refers to kilimapesa in the small scale sub sector, refers to the fantastic job they are doing there and how small scale mines of today are tomorrow's large scale mines. The reference to kili starts at 4mins 40 secs. Iirc small scale mines are required to cede 10% of the operation to the new state mining entity, when it is created. The requirement to list a further 20% on to the local exchange only applies to large scale mines. Therefore Goldplat will only be required to cede 10% of the kilimapesa gold operation to the govt entity and thats it. This will remove a significant amount of uncertainty over the level of ownership of the mine and will make the way forward a bit clearer. It should give any j/v plans a sounder footing to work from

We have several projects that could receive updates anytime, along with a pre close update. As you say, nice to see a rise into the extended weekend.

Buys outweigh sells today. No appetite to drop the prices, when sells going through at 5.55p and 5.5p at the close, against the displayed price of 5.25p. The actual trade range is 5.5p to sell and 5.65p to buy at the close. So there is strength to the upside. We will see if the momentum continues on tuesday.