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GDP Goldplat Plc

6.85
0.75 (12.30%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Goldplat Plc LSE:GDP London Ordinary Share GB00B0HCWM45 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.75 12.30% 6.85 6.70 7.00 7.25 6.10 6.10 1,813,985 16:25:09
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Gold Ores 41.88M 2.8M 0.0167 4.10 11.49M

Goldplat plc Update On Negotiation With Rand Refinery

12/01/2018 7:00am

UK Regulatory


 
TIDMGDP 
 
   Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration 
 
   12 January 2018 
 
   Goldplat plc ('Goldplat' or 'the Company') 
 
   Update on Negotiation with Rand Refinery 
 
   Goldplat, the AIM quoted gold producer with international gold recovery 
operations located in South Africa and Ghana and a gold mine in Kenya, 
is pleased to provide an update on its dispute with Rand Refinery. 
Further to the operational update on 11 December, in which Goldplat 
announced that Rand Refinery and Goldplat Recovery Limited ('GPL') had 
formally agreed on an arbitration process for the settlement of the 
dispute between the two parties, the Company is pleased to report that 
the parties have signed a Memorandum of Understanding ('MOU') regarding 
a proposed full and final Settlement Agreement. The MOU contains terms 
agreed to for inclusion in a Settlement Agreement, including agreement 
on an undisclosed amount to be paid by Rand Refinery to GPL in full and 
final settlement of the dispute. It is intended that the settlement be 
made the award in the ongoing arbitration process. Further details will 
be provided once the Settlement Agreement has been signed. 
 
   Gerard Kisbey-Green, CEO of Goldplat commented: "We are very pleased to 
have been able to progress discussions with Rand Refinery to this point 
and to have agreed terms for a settlement of the dispute. While the 
proposed amount is less than the full amount claimed by us, we believe 
that the proposed settlement and expected consequent expeditious 
conclusion of the arbitration process will not only alleviate the time 
and costs of the agreed legal process and free up valuable management 
time, but it also will allow business between the two parties to resume 
on the basis of a fresh start with renewed energy and focus in all areas 
to further strengthen and build the long standing relationship that 
exists between the two companies." 
 
   ** ENDS ** 
 
   For further information visit www.goldplat.com, follow on Twitter 
@GoldPlatPlc or contact: 
 
 
 
 
Gerard Kisbey-Green        Goldplat plc              Tel: +27 (71) 8915775 
                            (CEO) 
Colin Aaronson / Jen       Grant Thornton UK LLP     Tel: +44 (0) 20 7383 5100 
Clarke/ Daniel Bush        (Nominated Adviser) 
Andrew Raca / Justin       VSA Capital Limited       Tel: +44 (0) 20 3005 5000 
McKeegan                    (Broker) 
Charlotte Page / Susie     St Brides Partners Ltd    Tel: +44 (0) 20 7236 1177 
Geliher                     (Financial PR) 
 
 
   The information contained within this announcement is deemed to 
constitute inside information as stipulated under the Market Abuse 
Regulations (EU) No. 596/2014. Upon the publication of this announcement, 
this inside information is now considered to be in the public domain. 
 
   About Goldplat 
 
 
   Goldplat plc is an AIM quoted gold producer with two market leading 
recovery operations in South Africa and Ghana and an operational gold 
mine in Kenya.   The Company produced 42,857 ounces of gold during FY 
2017, with 40,285 gold equivalent ounces sold and transferred, resulting 
in an operating profit from continuing operations of GBP2.9m for the 
year.  This result does not benefit from the increased processing 
capacity that was achieved at the Kilimapesa Gold Mine towards the end 
of FY 2017, with operational profitability achieved during last two 
months of FY 2017.  Accordingly, the Company believes it is well placed 
to build upon production and profitability during FY 2018. 
 
   The Company's strategy is focussed on utilising cash flow generated from 
its flagship gold recovery and mining operations to self-fund the 
sustainable growth and expansion of its niche gold recovery business 
model internationally. The Company is also committed to increasing its 
primary mining production output through acquisition / gaining interests 
in producing or near-production assets, preferably in Africa.  Goldplat 
retains exposure to a small exploration project in Ghana, in which 
Ashanti Gold Corp. is earning an interest via an earn-in option 
agreement. 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Goldplat plc via Globenewswire 
 
 
 
 

(END) Dow Jones Newswires

January 12, 2018 02:00 ET (07:00 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.

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