AIM-listed South African gold recovery business Goldplat has delivered strong half year results and is investing for future growth. London South East spoke to CEO Werner Klinginberg and he was keen to emphasise that for several years now the business has steadily delivered profitable growth – and therefor he believes the shares deserve a rerating.
The Group operate recovery services in both South Africa and Ghana, and combined, those two entities made operating profits of £3.8 million pounds, up nearly 30% year on year. “The Group is showing our ability to repeat these numbers year on year, which supports our current cash position well.”
The Kilimenpesa gold mine in Kenya has been successfully sold and now profits are being reinvested to grow the focused gold recovery business.
A PMG recovery plant in South Africa costing $300,000 is expected to come on stream in April and will quickly become profitable. A similar $300,000 gold unit in Brazil is currently being permitted and Werner hopes it will be operational in 6 months or so.
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