Member Info for SEA7

I put in my previous post that the shares were issued as payment for their fee. This was not stated in the rns and is therefore incorrect. The rns stated that as part of the arrangements with vsa 71k shares were issued to vsa at 7.04p per share for a total value of £5k

VSA were given 71k shares at 7.04p as payment for their £5k fee. So they do hold some and are underwater at the moment. Usually it is a vote of confidence in the company, taking payment in shares. Especially seeing as goldplat can easily pay £5k in cash if it needs to.

thanks, AA. Thats the trouble with trade reporting software. It takes the mid price and simply lists anything below as a sell and anything above as a buy. The current mid of 6.375 means all todays trades are shown as sells, whereas we know that only the 6.25 trades are in fact, likely to be the sells. Its been this way for years and I don't see it changing anytime soon. Dummy trades are the only way we can get a better idea of actual spreads as opposed to indicated ones.

It has only been, just short of three months since the finals release. It would be nice to have an announcement of progress on at least one the issues at hand. Ian has not issued anything more than housekeeping rns's since taking over, so it would be nice for him to lay out his plans for the company and his road map to getting there. We can only wait, as I think that Ian will only issue rns's when necessary.

The mining bill was approved today and authorised it for submission to parliament for debate http://www.kbc.co.ke/cabinet-approves-mining-bill-2014/

The kenyan authorities have still to form the national mining corp and take 10% of mining projects to be held by the state.

before the care and maintenance status was implemented a value of around 2-3p per share had been given to the mine. Will it be sold or developed at a later date. Closure on this issue would be nice. It was only a year ago that the gazette notices in kenya were posted re the planned ore processing plant and tailings storage facility were published. http://kenyalaw.org/kenya_gazette/gazette/notice/138956 The kenyan authorities

news feature on goldplat from kenya (from november 2013) http://citizennews.co.ke/news-shows/sunday-live/item/15326-who-owns-kenya-goldplat

I note that ABG have upped their estimates of deposits at their kenya project, shortly after red rock raised funds to increase their activity at their kenya project. Goldplat gets a mention http://www.businessdailyafrica.com/-/539552/2147224/-/amknh6/-/index.html

I have picked up just over 31k shares this morning at 6.3p to add to my holding. I am being offered them at 6.29p now, so there may be a further tick down to come. This sector and more importantly goldplat, is on its knees. To me, this is the ideal time to park a bit more here. These are trading below NAV, giving a good margin of safety on any downside and plenty of upside.

canadian market due to open in an hour or so. Watching for any rns's released to coincide with this market opening,

The last time I emailed the company, ian visagie replied to me promptly and politely. Obviously, nothing of a sensitive nature was disclosed. This was before he took over as full time ceo.

http://thesharehub.com/

plenty of possibles for the rise today, so far, causeway pumps online, causeway sale, fdp fyne, offers for company for the tax asset and other possibilities not mentioned yet

Russel lammings six month consultancy ends on 16th march. One less expense. The company is still facing headwinds as it works through contracts that were negotiated at higher gold prices. The explo and mining assets or liabilities, depending on which way you look at them are still to be dealt with one way or another. There has not been any news regarding the licences for the burkina plant, which were expected to be in place by the end of 2013. Is it delayed, or deferred. The lock in agreements for the two trusts which hold circa 10% of stock ends on april 1st. - of which the former ceo has a beneficial interest in one of them (demetri not russell) Ian visagie, having been involved with goldplat since day one and knows the business inside out, has yet to flesh out any details on his plans for the company since the announcement of his move to ceo from interim ceo in december The company has issued updates in january in the last two years, so we may get one soon.

The revised FDP for the fyne field J/V with enegi oil has to be submitted to the DECC no later than 31 jan 14. Less than two weeks, so we should hear something soon

Causeway Area Three key production enhancement activities are to be completed in the Causeway Area during 2014. Operations are progressing on plan to enable the start-up of electrical submersible pump ("ESP") support for the Causeway and Fionn production wells. The electrical plant has been installed on the platform and the focus is now on hook-up and commissioning activities to enable start-up of the ESPs in the first half of 2014. The work required to enable the start-up of water injection on the Causeway field in the first half of the year is progressing well, with the water injection riser connecting the subsea infrastructure for the well to the host platform having been successfully installed in November 2013. The outstanding work to be finished is the hook-up and commissioning of the injection riser and platform pipework and.... Business Development During 2014, the Company will continue to seek opportunities to enhance the value of its existing UK portfolio. The Company's growth strategy remains focused on securing appraisal, development and production opportunities with the potential to utilise the organisation's core subsurface, commercial and project management skills to increase and accelerate shareholder value. They might pick up antrim for a song if they want it.

Athena related loan In the period from the commencement of production at Athena until 28 February 2013, some $10.5 million of the $28 million total Athena related debt has been repaid at the rate of 50 per cent of gross production revenues. $17.5 million remains outstanding of which $3.5 million is to be repaid at the rate of 50 per cent of gross production revenues and $14 million at the rate of 20 per cent of gross production revenues. This loan is non-recourse and is only payable if production from Athena continues. Commercially therefore it can be regarded as a production cost, net of which Lochard receives its income. The rate of repayment is expected to fall to 20 per cent of gross revenues from May 2013.

in the results dated 27 feb 13 they state that:- "The rate of repayment is expected to fall to 20 per cent of gross revenues from May 2013." So, as long as the drop in oil prices hasn't affected this schedule to much we should be moving to this payment schedule in a week. or so.

This is only really going to move up on bid news or when the payments to gemini drop to 20% of production, which they anticipate will be from may onwards. The announcement of the new licence operator might create some movement briefly.