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  • BY: Andrew Hore |
  • POSTED: 17/12/2014 |

Martin Ooi has edged up his stake in gold recovery business Goldplat to 4.1% following the company’s trading statement.

He has added 1 million shares to his holding over the past month.

Goldplat is still on track to report an operating profit this year. That suggests that there will still be a pre-tax loss. Last year, there was an operating profit of £153,000 and a pre-tax loss of £248,000.

However, delays in deliveries to the Rand Refinery have hit profit and cash generation in the six months to December 2014. This is expected to be made up in the second half.

More gold bullion is being produced rather than concentrates and a deal has been done for toll-treatment by a nearby mine in South Africa. A plant has been purchased by the company that can be used to produce gold bullion when it is up and running by the end of 2015.

Electricity consumption will be reduced once the upgraded rotary kilns come on stream by the end of March. A revised environmental management plan has been submitted to the authorities.

The share price has fallen by around one-quarter. At 3.38p a share, Goldplat is valued at £5.7m.

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