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Goldplat's profits surge, production rises

Goldplat recovers metal left on the by-products from mining
picture of gold bars
Production rose by 22%

Gold recovery specialist Goldplat PLC (LON:GDP) saw profits surge in its latest half year.

The group with operations in South Africa and Ghana posted a 238% rise in pre-tax profit to £1.33mln in the six months to December on revenues of £14.4mln (£10.7mln).

Goldplat recovers metal left on the by-products from mining and production rose by more than a fifth to 21,317 ounces in the half year, though some of this was held back while it waited for renewal of its licence in Ghana, which has now come through.

The AIM-listed junior added that independent review in its dispute with Rand Refinery is nearing a conclusion and it remains confident of a favourable outcome.

Matthew Robinson, chairman, said; “Focus for the remainder of FY2017 will be on completion of Stage two of the new plant at Kilimapesa; concluding the strategy for sourcing material in South America and West Africa to deliver the growth strategy for GRG; and continuing to seek efficient and acceptable alternative sources of debt”. 

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