News blog

Goldplat

• BY: Andrew Hore |
• POSTED: 24/04/2013 |

Gold recovery and exploration company Goldplat has sold a 11% stake in its core South African gold recovery business for £2.1m.

The stake has been sold to its Black Economic Empowerment partner Amabubesi Property Holdings, which takes its stake to 26%. The deal is partly financed by a loan from the company which will be repaid out of dividends by 2014.

At 10.25p a share, Goldplat is valued at £17.3m. The deal values the South African gold recovery business at £19.2m and Goldplat’s 74% stake is valued at £14.2m. Goldplat has another gold recovery business in Nigeria and gold exploration interests, as well as £4.8m in cash.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFApril2013_43.pdf