After serving up a series of utterly dismal trading statements, the new management at Goldplat (GDP) has today served up something of a corker…in relative terms. That has prompted broker SP Angel to recommend the shares as a buy at 4.5p with a 12p target.
Ian Visagie, who became chief executive officer of Goldplat (GDP) six months ago, sounds confident as he surveys the challenges and opportunities facing the Africa-focused gold recovery and mining company. It declared a £2.9 million loss for the six months to December. ‘We will not post a loss for the full year,’ he confidently assert, pointing out that £2 million of the interim deficit related to asset value impairments caused by currency fluctuations.
In a full note published after the announcement of (weak) interim results today by Goldplat (GDP) its house broker SP Angel argues why the worst is behind the gold miner and why the shares, at 5p, are worth 12p.
Shares in operator of gold recovery plants in South Africa and Ghana, Goldplat plc (GDP) trade only just above lows of 5p following the company updating last month on a “difficult” half year to 31st December 2013 and that it expects “operating profit for FY 2014 to be materially below operating profit for FY 2013”. However, as the company “looks forward to H2 2014 with renewed confidence” and with the shares having fallen from more than 16p as recently as the final quarter of 2012 and 6.75p before the announcement, is there currently value here?
The resignation of Goldplat (GDP) CEO Russell Lamming announced today and sees to have surprised even house broker SP Angel. But the broker stiull reckons that the shares are a buy at 8.5p and are worth 18p. It is not altering its forecasts.
On Monday, Goldplat (GDP), the AIM-listed African gold producer, rather disappointingly warned that “EBITDA for FY2013 is likely to be materially lower than market expectations”.
Notwithstanding its profits warning earlier this week AIM listed gold producer Goldplat will maintain its dividend claims house broker SP Angel and thus at 7p the stock yields 8.6%.
SP Angel is house broker and Nomad to Goldplat (GDP) so taking the attached note with a pinch of salt makes some sense.
Following yesterday’s trading statement from Goldplat (GDP) house broker VSA Resources has reiterated its buy stance on the stock at 10.25p with a 21p target price.
The recent particularly horrid sentiment towards the natural resources sector has – as noted in my recent piece on Archipelago Resources – impacted even the rare profitable and dividend-paying AIM-listed sector constituents.
Goldplat (GDP), the AIM-listed gold recovery specialist, has announced the signing of a binding memorandum of agreement with its Black Economic Empowerment partner to increase the latter’s interest in the company’s South African gold recovery subsidiary to 26% (from a current 15%) as required by 1st May 2014 by South African legislation.
