Member Info for SEA7

http://web.tmxmoney.com/article.php?newsid=65619678&qm_symbol=AEN Company will be left with fyne, erne, interest in porcupine, $17 -$18m in cash and no debt. Which is about 6pps in cash

As far as I can see, nothing will happen with kilimapesa until the government decides on goldplat staying outside of their "extra large" category. If it does, we get to keep the entire subsidiary in its current form, if not, then 10% cede to the state and 20% to be sold to kenyan investors through the stock exchange. This article refers:- http://www.businessdailyafrica.com/Reprieve-for-foreign-miners-as-govt-eases-equity-rules/-/539546/2165572/-/12cn13o/-/index.html Until this matter is closed, the mine will stay closed. The company may sell the whole thing off to some kenyan focused fund or kenyan private equity and walk away from the country completely if it has to cede this much. We await the outcome!!!

The latest information I have to hand regarding the crnd project is as follows:- http://www.investegate.co.uk/central-rand-gold-ld--crnd-/rns/operational-update/201309180700042262O/ Crown East Joint Venture Initial results from the Crown East Main Reef Joint Venture with Goldplat Recovery Proprietary Limited ("Goldplat") are very encouraging; with initial sampling results on the Main Reef indicating grades in excess of 10 g/t. Under the terms of the agreement Goldplat will have the right to assume mining, at its own cost and risk, at Crown East in return for a 5% net smelter royalty to Central Rand Gold. Whilst the tonnage mined by Goldplat has been modest, the sampling results to date seem to confirm that the high grade pay-shoot modelled in the Crown area exist and suggest that there may be further economic upside to the recent Crown West Scoping Study undertaken by the Company. The exploration potential in this area will continue to be assessed on an on-going basis. and this from goldplat's last set of accounts... In addition to these advancements at our main plant in Benoni, Johannesburg, the Company approved the development of Central Rand Gold's ('CRG') Crown East No 4 shaft earlier this year, to supply high-grade material to supplement the CIL plant at GPL. The operation has initially been designed to produce 200 tonnes per month of material grading approximately 15 g/t. This operation will be undertaken by a third party mining contractor and CRG will be paid a 5% net smelter return on all gold produced from the operation. To date, Goldplat has accessed the 3 Level area which has exposed the main reef resource initially targeted. Due to operational constraints, production levels have not yet been able to be optimised, however we are currently in the process of investigating a method to effectively remove the ore from lower levels and look forward providing an update on these developments in due course. I have not seen or heard anything regarding this project since goldplat's finals, last november.

Thank you DD, yes I do post on advfn.

sometimes, a little mark down like that is simply one market maker having gotten enough at the bid and has moved off and positioned lower, as he is not in the market for any stock at the moment. This leaves the next highest bid exposed, in this case the 6p bid price. Plenty of other possible reasons. Drifting on lack of news is one, market sentiment and tree shaking are others. Who knows eh!!!!

Goldplat has always had a policy of buying waste from the mines as it becomes available, this is to ensure a good service to the mines, so that there environmental crudentials remain intact and to keep barriers to entry for any potential competitors high. As goldplat does not enter into any hedging arrangements, there will be some risk on returns. The stockpile, could be part owned by goldplat and part owned by the suppliers of the feedstock, depending on whether there is a contractual arrangement with some suppliers and outright purchase with others. Goldplat has never really gone into any detail over this area. Except to state that there are around 28k oz of contained gold in the stockpile at the south africa site. The company does vary the material going through the process to take advantage higher prices and work the lower grade stuff through when prices are low, hence the pressure on the operation in the current environment. The company has strong assets, is still capable of delivering a profit in the current climate and is the only real player in the ghana market and the dominant player in south africa. Some years back, the ghanaian govt stated that it encourages all gold mines to send their waste to goldplat for processing. This is an endorsement that continues to this day, as goldplat provides a service to the ghanaian gold mining industry that no other does and fulfills the enviromental obligations of the miners. What is needed hear is an update on the next burkina plant and some direction on kilimapesa, in light of the recent moves by the kenyan govt.

http://www.standardmedia.co.ke/mobile/?articleID=2000103600&story_title=large-mining-firms-caught-up-in-messy-licensing-scandal

Back in october 2012 they said we would have to cede 35% to local equity participation, in the middle of last year that was watered down to 10%, now it looks like we may not have to give anything at all. 16 months of uncertainty coming to an end.

As long as goldplat doesn't get put in the large category, then we get to keep all of the kenya project, which may or may not alter the company's current strategy regarding it.

It looks as though only "extra large" mining companies will be forced to cede 10% of their projects to the state, the rest will be able to maintain their current structure. Who classifies as an extra large company will be published this month. http://www.businessdailyafrica.com/Reprieve-for-foreign-miners-as-govt-eases-equity-rules/-/539546/2165572/-/12cn13o/-/index.html excerpt We want to make it clear that not all foreign mining firms will be affected by local ownership rules,” Mr Balala said at a press conference Wednesday.

One thing that broker note from last year does touch on, is the fact that a new unit can be brought on stream within 12 - 18 months at a cost of $3.5 - $4m. Which should mean that the company can self fund this build without the need for additional funding. We were expecting the licences to be in place by the end of last year, this is one outstanding issue that we do need an update on at some point. As soon as all the permits are in place, then the 12-18 month clock starts ticking, until completion. Thats if it is still going ahead.

When david referred to the interims being bad, I think he is alluding to the comment in the finals, which stated the following:- "While the first half of the current financial year remains a difficult trading period, we expect the improvements to show in the second half year." This broker note from last march is worth a reread and some excerpts are below... Unlike the majority of gold producers that have a fixed cost with margins exposed to the gold price, Goldplat does not have the same exposure. The price paid for raw material relates directly to the gold price –material cost will be high when prices are high and low when gold prices are low. The contract price will be based on the margin. Similarly on the operating side, Goldplat has margin flexibility through the blending of material - they will maximise the processing of expensive material when gold prices are high and process cheaper material when gold prices are low. There will be exposure to the price in the stockpile. Also... Around 786 kg of gold (around 28,000oz) is contained in materials on site giving around several years of potential inventory. This includes wood chips of 60,000t equivalent to 500kg of gold at 8g/t http://www.goldplat.com/media/BAhbBlsHOgZmIkIyMDEzLzAzLzExLzE1XzEzXzE3XzIwN19Hb2xkcGxhdF9Jbml0aWF0aW9uX05vdGVfOE1hcjIwMTMucGRm

When I saw the rns on friday, I thought that we might be getting an update, however, seeing the total voting rights headline was a bit of a let down. The rns is another housekeeping statement, complying with disclosure and transparency regulations, which state that if there has been a change in the number of shares in the last month, then an announcement must be made. As goldplat issued 71k shares to vsa, the number of shares in issue has changed during january, hence the rns.

This from rand refineries website states what responsible gold is:- RESPONSIBLE GOLD – All gold produced by Rand Refinery is responsible gold which follows the 'Chain of Custody' requirements consistent with the Organisation of Economic Co-Operation and Development's (OECD) Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict Affected and High Risk Areas. It further complies with the London Bullion Market Association (LBMA) Responsible Gold Guidance and the World Gold Council certification of 'Conflit-Free' gold. Responsible sourcing of gold includes consideration of the following: No dealings with Conflict Gold: Conflict : armed aggression between two or more parties which leads to severe abuses of human rights Conflict Zone : The area in which armed aggression is taking place Conflict Gold: Gold which enables, fuels or maintains conflict. Safety, health and the environment: The gold is mined and produced without endangering the safety and health of people or damaging the environment. Social responsibility: The gold mining company or entity cares for and uplifts the community in which it operates As we know, rand refinery is goldplat's largest customer, taking over 98% of all gold produced.

the message from JPMorgan is that it is time to buy South African gold shares. "The domestic producers are offering a level of value that we have rarely — if ever — seen before," http://www.bdlive.co.za/business/mining/2014/01/06/gold-share-investors-take-it-on-the-chin

If this stock does drop to 4p, I will be picking some up, that you can be assured of, however, with prices down at near historic lows (5.49p was the lowest price gdp have traded at, I think) I have been accumulating bit by bit. I picked up just over 15k shares this afternoon at 6.15p. As for waiting for 4p, it may never get there, then again it might, who knows.... I don't. One thing I do know though and that is, this stock is in bargain territory.

It is this core business, which is cash generative and has supported the whole company from day one, that attracted me to goldplat in the first place. It has a dimension to it that a traditional miner does not. That is, it is not geographically constrained by an ore body and can continually replenish itself with feedstock from mines. Waste can be shipped in from anywhere, as long as it is cost effective and new plants can be built relatively quickly wherever permission is granted for one. These recovery plants have turned profits continuously and the stock trades at below the listing price of 7.5p. The market cap today is very close to the market cap at the time of listing in july 2006 when only the south africa plant existed. Today there is a second profitable plant running and a mine on care and maintenance. Back then there were 110m shares in issue, today there are 168m and a share price of 6.37p. I first bought these back in april 2007 and have traded them profitably a few times. It is a good solid stock despite all the goings on at the management level. Once they have theirselves all neatly seated in their new roles around the board room table, I sincerely hope we will get to see some traction on all the issues that need their attention.

Along with the rand, the ghanaian cedi is also at a ten year low, giving goldplat a boost when converting the dollars to cedi for local bills in ghana.

yep, plenty of short term trades can easily end up as long term investments!!! With a weaker rand, goldplat should benefit as it means less dollars exchanged for rand to run the SA plant.

This time last year, analysts and media were touting the fact that they thought gold would go higher in 2013. We know what happened next!!! They are all bearish on gold now and not on equities. Hmmm I wonder if they will be just as wrong about the downside as they were on the upside of gold???