Member Info for SEA7

As there were only two trades on the esm yesterday totalling 10000 shares, I would surmise that they are recording last price paid. The last traded price was 0.028p, which, if the first trade was a buy at the price of 0.054p, then the difference between those prices is about -48%.

from the interim report, period ending September 2014. Ongoing monthly general and administrative costs in 2015 forecast to reduce from US$275,000 to US$215,000 per month. This was before they walked from tendrara, so I am expecting further reductions in this figure.

That trade, for 1 million shares, reported after the close, which initially looks like a sell at 2.19p, has a trade time of 1552, which at that time the prices were 2.1/2.25. This makes it a buy, as the price moved up to 2.15/2.40 straight afterwards. I had carried out a dummy buy earlier than that trade, which gave me a price of 2.19p.

drilling in tendrara was, iirc $15-$17m per hole. Meaning that fastnet would have burnt the entire cash pile on the first drill. Without any back up cash and no partner this was risky to say the least. The option had to be exercised by dec 31st, which meant committing to a drill by april, I believe, without checking. As they had not had much success getting partners this would have made it too risky, despite the projects chances. I think it was the right call. Also, the morrocan authorities may have simply said no to an extension, as I suspect fastnet would have been trying to get the requirement to drill extended by another year as well. I would not be surprised to see a low ball 5-6p offer for fastnet in an all share deal, to get at the cash pile and 3d database, which is worth 5-6p on their own, this does not include the carry at foum and the celtic sea licences, before any other project is bought into.

They stated $18m at end november 2014, with a monthly $275,000 cash burn. At the end of january this should leave the cash position at $17,450,000. With 345,369,071 shares in issue, this gives us, when converted into sterling - 3.28pps in cash at end jan. If we run the cash burn at current rates out to the end of november 2015, we end up with about 2.76pps in cash left. (assuming the BOD do absolutely nothing between now and then, except collect their salaries) The 3d seismic database cost $18m to create. There is value here. The cash and the 3d alone should be worth around 5-6p per share. Trading at 2.15p is way below where it should be. The free carry at foum is not factored in and the licences are in for zero as well. I have bought here, again.

http://www.businessdailyafrica.com/Corporate-News/Goldplat-plans-relocation-in-Western-Kenya-strategy/-/539550/2462890/-/item/0/-/13xdexlz/-/index.html

http://www.youtube.com/embed/wTiRUPSN7sQ published on goldplats website. Interview carried out 23/9/14

The £847k operating profit in the second half, eliminated the £694k loss from the first half, which left an actual operating profit of £153k Liabilites increased mainly as a result of increased trade payables and current assets reduced mainly as a result of the decrease in cash from the previous year, although this was offset by the increase in inventory, meaning an actual drop in current assets of around £350k. The net current asset value per share showed a marginal drop to 2.79p per share from 2.8p at 30 june. In october 2012 the net current asset value per share was 5.1p and has dropped ever since, these results show that in the last reporting period this decline has almost been halted. As long as the initiatives that have been put in place continue to deliver then this figure should start to increase instead of the steady decline over the last couple of years.

ian visagie and hansie will be presenting at the proactive forum on the 25th sept in mayfair. Register through proactive site. http://www.proactiveinvestors.co.uk/companies/news/72434/goldplat-leyshon-energy-and-mariana-resources-at-next-forum-72434.html

one trade for 35k shares at 8.32 went through at 11.52 this morning. Thats the only one above 8.25 so far.

http://www.proactiveinvestors.co.uk/columns/sp-angel/16843/todays-market-report-including-paragon-diamonds-goldplat-and-coal-of-africa-16843.html extract.. § The CIL section has not been operating profitability for some time and was temporarily closed last year when it became uneconomic to treat artisanal tailings due to high transport costs. The Ghanaian government has forced the closure of many artisanal operations in an effort to clean up small scale mining in the country. § CIL Section: Ghana’s Environmental Protection Agency ‘EPA’ recently visited GoldPlat’s Tema operations, and has enforced the closure of the CIL section, which was already suspended for economic reasons, on permit issues. § The EPA notice relates only to the CIL section which has now been shut down with a notice to decommission its tailings facility. and § The current grade of tailings at the site are said to be of a sufficiently high grade to cover expected decommissioning and removal costs. also.. The contribution of the CIL section to GRG’s revenues and profits has been declining and this section had previously been suspended (in June last year) not because of regulatory breaches but economics when the CIL plant treated artisanal tailings which became too expensive to treat. The plant was more recently treating tailings from their own plant. While the fine and notice do not look good, this is against a backdrop of a tougher stance being taken by the EPA for mining operations in Ghana. The new management team have a good relationship with the EPA and are trying to clean up any legacy issues and find a new site for the CIL plant. The gold contained within the site is expected to pay for the cost of treatment.

The Environmental Study for the site in Dano was completed at the end of August 2013, and the Company is pleased to announce that the Government of Burkina Faso has awarded Midas Gold SARL an operating license which covers artisanal semi-mechanised gold mining and gold reprocessing of by-products. The Board believes Burkina Faso has great potential to expand and build a sustainable gold recovery business.

A bit grim this bit... On 18 July 2014, GRG was issued with an enforcement notice by the Environmental Protection Agency ('EPA') requiring GRG to halt all operations at Tema due to the identification of certain operational and environmental breaches of the Company's permit conditions. The EPA subsequently issued an enforcement notice on 19 August 2014 requiring GRG to cease operations at the CIL treatment section which has been re-processing the onsite tailings, whilst enabling operations at the spiral and incinerator sections to continue as normal. GRG was also fined 75,000 Ghana Cedi (approximately £12,000). It is not intended that GRG will seek to recommence CIL operations at Tema. It is expected that GRG will now work together with the EPA to find a new site for an engineered tailings facility and the CIL section so that GRG can restart the processing of tailings. Such a site is likely to be situated in an area where artisanal tailings are available for processing, so reducing transport costs which have reduced profitability up to now.

on stocks such as goldplat you generally only see the market maker position on L2, such as wins, scap etc... and their respective prices such as 3.75 on the bid and 4.25 on the offer. Which make it fairly useless for studying goldplat's order book. I haven't looked at L2 for ages, so the above could have changed.

IIRC the reason why you see 3.81p for a sell, is because your broker is most probably, simply polling the retail service providers (RSP'S) and not dealing with the market directly. This means one of the rsp's will be willing to take the stock above the other rsp's for what ever reason, book balancing or an order to fill are two possible reasons. This is what RBS has to say about it... A Retail Service Provider (RSP) is a firm that provides the price feed for the online electronic quoting system similar to a computerised market maker. Royal Bank of Scotland Stockbroking uses a number of RSPs to help execute your order in accordance with our best execution policy. We will attempt to execute your order electronically via the RSP system. If we are unable to gain an RSP quote for your order, for example because the size of your order is greater then that available from our RSP's to trade electronically, we will then approach a market maker and deal your order manually. Where appropriate we will obtain multiple price quotes to determine the best price available. Most trades by retail clients are executed electronically via an RSP. http://faq.rbs-sharedealing.co.uk/help/faqquestions/general/who-or-what-is-a-retail-service-provider--rsp/

I think the claim of 78 kg a month is probably out somewhat.

interesting article.. from may 21st 2014 http://naroknewspaper.co.ke/jitters-over-kilimapesa-goldplat-in-transmara-as-moyio-financial-commitee-turns-gold-turns-cold/ excerpts. Kilimapesa Gold seems to have done it best, by surrendering the current required five per cent of the mining proceeds to the local Moyio Financial Committee. AND A reputable source, which source anonymity claim that the few individuals managing the community kitty have take it upon themselves to embezzle the funds and Out of the 78 kg of gold that is exported monthly by the Kilimapesa Gold whose postal address is P.O Box 10 Lolgorian, the committee receives 2 millions per kg.

The mining bill in kenya, as expected, is going through its tortuous and grindingly slow trudge, through the legislative process. http://www.businessdailyafrica.com/Revised-Bill-denies-counties--locals-share-of-mineral-cash/-/539546/2320598/-/item/0/-/j91r92/-/index.html excerpt.. The Bill is set for second reading when Parliament resumes from recess on June 3.

Nothing we don't know already, however, nice to see a bit of coverage. http://www.businessdailyafrica.com/New-investors-put-shine-on-gold-mining-/-/539546/2316390/-/item/0/-/y18wut/-/index.html excerpt... The CEO, however, said the company was keen on carrying on with its Kenyan operations once the joint venture partners come on board.

I suspect that which ever market maker it was that was sat on the highest bid, simply moved off and positioned lower, exposing the next lowest bid. This could simply be because that market maker no longer needs to acquire any shares to balance their book or fill an order. One of many possibilities.