Member Info for SEA7

According to the interim financial report for the 3rd quarter 2015 and the corporate update in November 2015... We have £6,305,000 in unrestricted cash. If we assume £700k G+A to end September 2016, which is high for a company with no revenue streams and the bulk of this, I believe is the office leases at £386k for the year of 2016, then we are left with £5,605,000 in cash at end September 2016. This equates to 3.03p per share as at end September 2016. At the current mcap of £2.26m there is very little downside and at the very least a possible rise to 3p just to match the cash balance in nine months time. I bought, yesterday at 1.29p in two tranches, one of 125k shares and the other 50k shares. These are shown as sells. We have a good margin of safety here at these levels and time for the company to do something with the cash balance, other than draw salaries. The Q4 report will be out soon and should show that the position is largely unchanged. There does not seem to be any catalysts on the horizon, other than the fact that it is undervalued on a cash to share price basis, however, we may be surprised one day. I may add on further weakness.

Could that be the new NED buying 1m shares at 2.6p - just gone through

Thanks for the figures re consilient. I agree, the OP will rise over the next four years, the question is, will it be high enough for someone to be interested in acquiring the 3d database, with a view to drilling offshore celtic sea. I am expecting the 3d to be sold to an o and g explo at some point, just not any time soon, although I am optimistic, I am, however conservative in approach to valuation today!!!!

The oil assets iirc, mizzen east expires april 2016 deep kinsale will expire end December 2015 ventry expires august 2016. foum assaka expires jun 2016, however they are relinquishing the 12.5% holding and paying costs associated with it. That is all they have left, apart from the 3d seismic database. There is no appetite for explo assets and not likely to be for most of 2016, with oil where it is and where it is expected to be. Once that cash has been used honouring the outstanding commitments, it won't be paying the interest each year. Whilst the 3d is worth more than the loan in good times, it may struggle to sell in these conditions.

If they manage to sell the oil assets. Those licences that are remaining are due to expire well before the four year period ends. All that is likely to be left is the 3d seismic database. I am working on the principal that it may get written off, if no buyers are found. Whilst I wholeheartedly agree with your workings, I also like to look at the possibility of it not being repaid, factor that in and work from the lowest possible position, for a greater margin of safety.

The cash position is slightly lower, as the loan to fastnet hydrocarbons of EUR660,000 has not been taken off. This gives us EUR12,940,000 net of the loan, which when divided by the shares in issue, gives 3.6 cents per share, or £9,446,200/345,37m shares is 2.74p per share. Cathal stated that running costs would be below $0.6m or EUR522,000 going forward per year. Meaning 2.62p per share cash cover until end November 2016, if nothing else happens. Very limited downside here at this time.

A poster on another board pointed out that Harry's LinkedIn page shows him as NED of Neurocentrx, based in Scotland and Consilient Health based in Dublin. As the company has just changed its functional currency to the euro and expects that currency area to be the focus going forward. Could the Dublin based consilient be of interest as an acquisition to fastnet. Speculation purely based on the connection of Harry Stratford to both companies.

matt- I have made numerous purchases in the price range 1.75p - 2.8p and hold quite a few, with an average of 4.42p. The company is slowly putting the mistakes of the past, in the past. Looking forward, we have a period of continued expansion and this will be reflected in the figures. If you wanted to replace all the circuits in south Africa alone, it will cost in excess of £10m. We should be getting a statement regarding the stock dam before the end of the year, which has the potential to be a significant resource. There is a million tonnes of material in the stock dam and we are eagerly awaiting news on it, which Gerard stated in the recent interview that we should hear soon.

the part that has been "*" out should read directors talk.com ....without the space.

www.*****************/goldplat-plc-ceo-gerard-kisbey-green-additional-revenue-streams/ Discusses the new shotblast facility, expecting $200k pa from it (£130k), next news should be stock dam assessment in the next couple of weeks.

tks adw80, I managed to trade out of the high two's as well. I have re-entered and am currently at an average of 2.39p. We will hear something soon, although how long "soon" is I do not know!!! Either way, the margin of safety here is good at these levels and offers us some protection of our capital, as the cash is quite away above the current mcap, for now anyway.

As things stand we have, net 2.77p per share cash, for a year, from the last accounts, at the current rate of cash burn, plus a 3d seismic database and a plan to invest in the pharma/lifesciences sector. That's it. The downside here, is that this time next year, with cash down to 2.77p, no meaningful investment has taken place and the share price would likely be lower than it is now. Cathal then making some token investment to comply with the listing and then nothing, except him drawing a salary until the cash runs out some years later. Can you see that happening, because I can not. Buying into a cash shell like this, at this stage of its life, with this level of uncertainty about it, is reflected in the current share price. When an announcement is made, those that have bought at these levels will do well, for buying with a heightened risk profile. Those waiting for an announcement will pay the higher prices, as long as the investment is a good one. The value here is the cash and opportunity. The cash is there and verified and the opportunity is skewed to the positive based on cathals history. Yes I know fastnet oil and gas was a disappointment, however cathal has made the move out of it and that should be taken into consideration along with his successes. There is far more likelihood of upside here over the next year than any real downside. Hence I have been buying, most recently at 2.1p

What cathal said in septmeber... "When we have a deal we will go back to shareholders to vote on it, [hopefully] it will be within the next few months," he said. http://www.independent.ie/business/irish/fastnet-looks-to-complete-pharma-takeover-in-months-31503222.html He does say in the same article about new appointments in weeks, which did not happen. He does state (hopefully) in the next few months, the article is two months old. I was not expecting much without a few months wait, at least.

This morning I was quoted 2.06p to buy and 2.007p to sell, which is unchanged since that 1m trade. On balance it looks more like a buy than a sell.

CF plans the following for the oil assets.... "In terms of the Company's Celtic Sea Assets and 3D seismic survey data the Board will continue to examine all options to secure value for Shareholders. Options under consideration include spinning the Celtic Sea Assets into a stand-alone entity. This would enable any value creating opportunities from Celtic Sea Assets to benefit our existing Shareholders who would become shareholders in the newco." With regards to all oil assets, offshore morocco - withdraw from partnership and incur costs of about $150k celtic sea - It is the Board's intention to terminate all further expenditure on its Celtic Sea portfolio of licensing options. Fastnet will seek to secure a possible disposal or similar transaction of these options before they expire, costs outstanding on celtic sea are no more than $150k in aggregate. So, exit, sell, relinquish all oil licences, possibly spin off the celtic sea assets into a newco, with a view to selling licences before they expire and hold the 3d seismic. $300K of expenditure to be incurred. Then fastnet equity will be free of all oil legacy assets and will be a pure, clean cash shell, awaiting a pharma acquisition. There is 2.77p per share net, for about a year from the results, IIRC, without anything else happening.

Final results will be published on Monday 28th September, in line with previous rns

no, jolly, there is an abundance of waste in south africa and internationally. The lower gold goes the lower some of the material cost will be. There are countless mines in south africa that have no registered owners and are on the books of the govt, that goldplat could carry out some mine rehab on. There is no issue with availability of supplies. As for golds role in the world, Its role as a currency, insurance policy and collateral for some deals, especially in china ensures its relevance. Countries like india, which do not like saving in rupees, buy gold to keep as savings and to hand on to family. It can not be diminished or created out of thin air, it doesn't rust. Central banks have been net buyers over recent years. The allure of it and the perception of its ability to preserve the wealth of the owner over time, will always see that it has a place in society. 5000 years of historical, human attachment to it means it isn't going to disappear anytime soon. Whilst what you say is true, that if the industry shut down the world would be fine, however, just the thought of no more gold coming on to the market would be enough to push the price up to the point where more would start to appear again. We are around the cost of production now.

part of the recovery business restructuring was the change of feedstock contracts, so that the price paid to the supplier is based on the sale of price of the gold recovered. This should ensure that only material in process is affected one way or the other. This should ensure that the company maintains its 15-20% margin. Whilst the company may purchase some material outright, it will now be at a price favourable to goldplat and not the other way round. Suppliers of waste will still have to comply with environmental obligations, whether it be a high or low gold price.

The company has not given any indication when the interims will be released. However, they have to be released by 31st march, in accordance with aim rules.

The 0.028p price being a sell