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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Wishbone Gold Plc | LSE:WSBN | London | Ordinary Share | GI000A2PX455 | ORD 0.1P (DI) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 1.25 | 1.20 | 1.30 | 1.25 | 1.25 | 1.25 | 50,000 | 08:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Misc Nonmtl Minrls, Ex Fuels | 0 | -1.14M | -0.0044 | -2.84 | 3.22M |
From May 2019 to May 2024
TIDMWSBN
RNS Number : 4221W
Wishbone Gold PLC
09 February 2017
9 February 2017
Wishbone Gold Plc
("Wishbone Gold" or the "Company")
Wishbone Gold Plc / Index: AIM / Epic: WSBN / Sector: Natural Resources
Trading update
The Company entered into a debt facility in June 2016 to support its gold trading, with shipments commencing in August 2016. Peak trading was in December 2016 with 105 kilos committed and sold during the month. The Company achieved its target of exceeding 25 kilos per week by the year end.
While volumes have been good in 2016, margins have been under pressure due to India's change in import rules which provides a premium for gold shipped to, and processed in, certain economic zones. Early estimates for 2016 suggest that India remains the largest ultimate purchaser of gold in the world followed by China, which is also the world's largest producer.
In December 2016, CEO of Wishbone Gold plc's subsidiary, Black Sand FZE, Barrett Kosh visited Peru and Chile as part of a UAE Trade Delegation, which provided a number of new opportunities for the Company and further announcements will be made as appropriate.
In 2017 the Company expects to continue its reverse integration by assisting with equipment purchases to further cement ties with its suppliers.
The Company also expects that the ongoing developments in early stage projects it has been working on since 2015 in Honduras and Ghana should move forward significantly this year.
In February representatives of the Company will be visiting Ghana at the invitation of the new government to review existing gold projects and new opportunities offered to the Company.
Chairman and CEO of Wishbone Gold plc, Richard Poulden, commented: "Overall this has been a transformative and successful year for Wishbone. The gold market remains extremely strong in volume terms which makes us believe that the oft quoted decline in production is failing to monitor the small producers which is our target supplier market. The traffic is inexorably east with small premiums over the world spot price appearing from time to time in India and Hong Kong."
- ends -
www.wishbonegold.com
Enquiries:
For further information, please contact:
Hot Features
Premium
Wishbone Gold Plc
Richard Poulden, Chairman Tel: +44 207 812
and CEO 0645
Allenby Capital
Nick Naylor / Nick Harriss Tel: +44 20 3328
/ James Thomas 5656
Beaufort Securities
Elliot Hance Tel: +44 20 7382
8300
Damson Communications
Amelia Hubert Tel: +44 207 812
0645
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTUKSNRBNAURRR
(END) Dow Jones Newswires
February 09, 2017 02:00 ET (07:00 GMT)
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