Goldplat plc (LON:GDP) has made a breakthrough in its dispute with Rand Refinery, with both sides now agreeing to an arbitration process.
The two companies have been in dispute for months over a contract to process silver, with Goldplat claiming £780,000 from the South African refinery.
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Arbitration proceedings have been scheduled for 25-29 June.
Gerard Kisbey-Green, Goldplat’s chief executive, said he was pleased that the dispute was moving forward and was confident the arbitration process would result in full recovery of the amounts it was owed.
Elsewhere, good progress had been made in all areas of strategic focus, he said.
At GPL, which recovers gold and silver from mine by-products such as rubber rollers, a strategic stockpile of a year’s production has been acquired.
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At Gold Recovery Ghana, the elution plant construction is progressing according to plan and commissioning is expected to begin before the end of 2017.
The Kilimapesa gold mine is on track to produce 5,800 ounces of gold in 2018 and is profitable at the operational level.