Interim surge at Goldplat
Article Date: Feb 23 2009Goldplat, which extracts precious metals from mining industry by-products, has lifted first-half pre-tax profits 92 per cent to £1.2 million.
Based in South Africa and quoted on AIM, the company, chaired by the entrepreneurial Brian Moritz and steered by chief executive officer Demetri Manolis, increased turnover 74 per cent to £5.2 million in the six months to December. Goldplat has secured further stockpiles from which to extract gold and platinum group metals and says it now has stocks containing 44,050 oz of gold.
Goldplat, which sold 15 per cent of its South African subsidiary Goldplat Recovery to a Black Economic Empowerment partner for £1 million, says its recovery plants in South Africa and Ghana continue to perform ‘buoyantly’. Last month the company began gold mining itself at Kilimapesa in Kenya, where it argues production should fund the development of the mine.
Floated at 7.5p in 2006, Goldplat shares reached 17.25p in late 2007 and now stand at 13p, valuing the company at £14.6 million. Their appeal is speculative.
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