Good to hear that the long running dispute with Rand has finally been resolved at arbitration. Sounds as if we did not get the full amount we thought we were owed, but we got something and a negative distraction has now been put to bed. No more legel fees and management freed up to concentrate on building the business.
Another good set of figures, although at this point we only have gold produced and gold sold at about 10K ozs and 13k ozs respectively.
Gold about £1k per oz gives revenue of approx £13M. What we don't know as yet is costs and therefore profit.
Happy that we seem to be moving in the right direction.
I hope part of the proceedings against Rand will be for costs of the legal action as well as the circa £780K fees due for services rendered.
Surprising, disappointing and potentially expensive that GDP have had to go legal on this.
Look forward to results later in the month.
Rand Refinery come up at 47 minutes in. Still confident they will get their money back (may consider a special div if successful). Cumbersome legal system in SA which needs to be allowed to go its course to maximise chance of favourable outcome.
Confident of winning this, and getting costs awarded as well. Going after £780k owed, and expecting to get it. How on earth can RR put a case together suggesting GDP owe THEM money, when GDP performed a service for RR, did the job, sent the invoice, which was never paid?
It's almost like kids squabbling over money. One kid says (genuinely) can I have that 20 quid I lent you back now please? And the other kid says I'll give you 20 quid back if you return those 3 CDs you borrowed first. When no CDs were ever actually lent or borrowed at all.
No idea how slow the courts work there, but our board clearly believes the legal cost 'investment' is a sound one.
Only twice before in the last 12 months have more shares been traded and they were both falling price days.
Today happily we have a rising price day, so far at least. Should we prepare for an RNS after the smart money has already got in?
Unusual to see this volume and %age rise without some news.
Yes I agree the Interim results are very promising. I like the fact that Kilimapesa in Kenya also seems to be turning a corner. This has been draining the companies resources for a number of years now. A profit from there would be wonderful.
I am continuing to hold until the year end figures come out. If the company continues as it has in H1 then the Profit Before Tax Level could be up over 50% on last years. This will lower the P/E ratio to well below 10. Debt levels are very good for an AIM miner.
Good positive figures and progress on all fronts including, it would appear, on the Rand dispute which I think has been quite a drag on the outlook and SP. Management expect a positive outcome.......
As this rate could reach break even in a few months.
Very good results in my opinion. Looks good for next year also if they can resolve dispute with Rand, turn a profit (any profit) at Kili and continue to ramp up core operations in Africa and South America.
I've been underwater with GDP for years, kept averaging down, ending up with 250k units at 9.9p average. Now, with some stability in operations, some good prospects, generating small profits and gold price back up above 1300, I really think the share price here could begin to climb back. With a current market cap of less than £10m, given its current production and prospects, I think we should be able to see low 7p range before the summer really gets going. Anyone else feeling the same way? Or anyone else see a bad trend?
Read VSA Capital's note on GOLDPLAT, out this morning, by visiting https://www.research-tree.com/company/GB00B0HCWM45
"released strong production numbers for Q3 FY 2016, producing 7,252oz of gold which brings nine month production to 24,709koz. This implies some potential upside to our full year production estimate of 31,500oz. The strong run rate has benefitted from the normalisation of operations in Ghana with the backlog now resolved. Also an increase in concentrates sent to Rand Refinery for processing reduced turnaround times while the Aurubis refinery in Germany continues to process the balance of carbons and ashes..."
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