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Operational success and currency favour Goldplat, dispute with refinery doesn’t

Favourable currency movements and a good operational performance from Goldplat are offsetting uncertainty generated by a dispute with Rand Refinery

Operational success and currency favour Goldplat, dispute with refinery doesn’t
Shares in Goldplat have tripled in value over the past 12 months

Shares in Goldplat PLC (LON:GDP) traded slightly weaker at the open on Monday 11th July after news that the company is in dispute with one of its major business partners, the Rand Refinery.

The company also noted that for “operational reasons” the Rand Refinery will not be able to accept any product from Goldplat for refining during the month of August.

Goldplat has been in dispute with Rand Refinery before and has learned hard from the experience.

It has in the past taken steps to mitigate what it refers to as “single refinery risk” and as a consequence it will be able to switch feed to other refineries without the process having a “significant impact on its business.”

Nonetheless, there remains the matter of the £628,000 under dispute with Rand Refinery.

That outstanding sum, combined with strong currency movements which have worked in the company’s favour and with a good overall performance from the South African arm of its operations means that Goldplat isn’t currently able to confirm that its results will be in line with market expectations.

The shares dipped slightly on the news to 5.62p, although they have just about tripled in value over the past 12 months.

Quick facts: Goldplat PLC

Price: 2.7 GBX

AIM:GDP
Market: AIM
Market Cap: £4.52 m
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