Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Goldplat plc    GDP   GB00B0HCWM45

GOLDPLAT PLC (GDP)
Mes dernières consult.
Most popular
  Report  
SummaryQuotesChartsNewsCalendarCompanyFinancialsConsensus 
News SummaryMost relevantAll newsSector newsTweets

Goldplat : UK-based Goldplat Kenya gold sales hit Sh375m in six months

share with twitter share with LinkedIn share with facebook
share via e-mail
0
01/30/2018 | 11:49pm CET

Small-scale gold miners in Masara, Migori County. FILE PHOTO | NMG

London-based Goldplat Plc’s Kenyan subsidiary Kilimapesa sold gold worth Sh375.1 million in the six months ended December, boosted by increased production at its Migori plant. Kilimapesa’s output rose 2.2 times to 2,681 ounces in the period compared to 1,190 ounces a year earlier, the multinational disclosed in regulatory filings. The company’s gold sales rose 2.4 times to 2,720 ounces from 1,093 ounces, placing the value of the commodity sold in the review period at Sh375.1 million based on the present international price of $1,348.1 per ounce. The royalty rate the company pays to the Kenyan government was not immediately clear but the State is likely to book more revenues from the increase in exports.

“I believe we are well-placed for a positive full year 2018. Management is committed to achieving profitability at Kilimapesa during this financial year and I am confident that we will succeed,” Gerard Kisbey-Green, CEO of Goldplat said in a statement.

“Furthermore, we continue to make positive progress at our recovery operations, both in terms of increasing operational capacity and in identifying new sources of material for processing at an international level.”

The multinational says Kilimapesa suffered lost production between October and December as election-related political unrest disrupted diesel supplies besides problems relating to the importing of critical parts for the primary crusher.

The crusher issue has subsequently been resolved.

The company added that it installed a second diesel generator at the second phase of the plant to provide additional power for the mill to increase the overall production throughput.

“Kilimapesa remains on target to produce 5,800 oz (ounce) of gold in full year 2018, despite the previous quarter’s loss in production,” Goldplat said.

The multinational has invested more than Sh30 million to increase production in its Kenyan operations over the past two years, signaling its confidence about gold’s future prospects.

The price of gold touched highs of $1,833 (Sh188,000) per ounce in September 2011 as investors rushed to buy the commodity in the aftermath of the global financial crisis which eroded the value of currency-based assets.

Its price subsequently dropped to trade at the current $1,348.1 (Sh138,000) per ounce as fears of recession subsided.

(c) 2018 2017 Nation Media Group. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on GOLDPLAT PLC
01/30GOLDPLAT : UK-based Goldplat Kenya gold sales hit Sh375m in six months
AQ
01/17ASHANTI GOLD : Goldplat plc - Modification to option Terms between Ashanti Gold ..
AQ
01/15GOLDPLAT : Update on Negotiation with Rand Refinery
AQ
2017GOLDPLAT : Operational Update
AQ
2017GOLDPLAT : UK’s Narok gold mine output up 133 per cent
AQ
2017GOLDPLAT : Result of AGM
AQ
2017GOLDPLAT : Director PDMR Shareholding
AQ
2017GOLDPLAT : Ashanti Gold Corp Releases an Exploration Update at the Anumso Gold P..
AQ
2017GOLDPLAT : Ashanti Gold Corp releases an exploration update at the Anumso Gold P..
AQ
2017GOLDPLAT : Notice Of AGM And Posting Of Annual Report
AQ
More news
News from SeekingAlpha
2016VSA CAPITAL'S PAUL RENKEN : Gold And Lithium Companies That Are Sizzling Hot 
2015COMMODITIES TODAY : Volatility In Energy Names, New CEO For Railroad 
2015PREMARKET GAINERS / LOSERS AS OF 9 : 10 am 
2015Goodrich Petroleum to launch 12M-share public offering 
2015Goodrich Petroleum's (GDP) CEO Gil Goodrich on Q4 2014 Results - Earnings Cal.. 
Chart GOLDPLAT PLC
Duration : Period :
Goldplat plc Technical Analysis Chart | GDP | GB00B0HCWM45 | 4-Traders
Technical analysis trends GOLDPLAT PLC
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 1
Average target price 0,17  GBP
Spread / Average Target 134%
Managers
NameTitle
Gerard A. Kisbey-Green Chief Executive Officer & Executive Director
Matthew Robinson Non-Executive Chairman
Johannes Hendrik van Vreden Chief Operating Officer & Executive Director
Werner Klingenberg Finance Director & Executive Director
Ian J. H. Visagie Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
GOLDPLAT PLC-6.45%17
NEWMONT MINING CORPORATION3.94%20 859
SAUDI ARABIAN MINING COMPANY (MA'ADEN)--.--%16 078
BARRICK GOLD CORP-12.34%15 350
NEWCREST MINING LIMITED1.01%13 483
POLYUS PAO--.--%10 640