🕐23.03.10 - 14:25 Uhr
Goldplat - profitable, cash generative, debt free gold producer - Edison Initiation of Coverage
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Edison Investment Research
Edison Investment Research
Dear Felicity,
COMPANY RESEARCH
Goldplat - Easy gold PDF download Click for report
Among gold producers, Goldplats core operations are almost unique.
First, since it recovers rather than mines gold, it is not geologically constrained and it can therefore effectively choose whether it wishes to treat high or low grade material from its stockpiles.
Second, it is able to manage its ore body in that it can choose which material it wishes to source.
Third, it is able to structure contracts to minimise the risk of incurring losses.
Having built a profitable base, Goldplat is now in the process of acquiring conventional, high-grade mining assets with a view to increasing its productive capacity to 100,000oz per annum.
Goldplat is leveraging its position as a small, profitable gold producer from its gold recovery operations in Ghana and South Africa to become a mid-tier producer, by acquiring conventional mining assets in Kenya and Burkina Faso.
Year
End
Revenue
(m)
PBT
(m)
EPS
(p)
DPS
(p)
P/E
(x)
Yield
(%)
06/08
7.7
1.6
0.95
0.0
10.8
N/A
06/09
11.1
2.0
1.30
0.0
7.9
N/A
06/10e
12.9
2.1
1.38
0.0
7.4
N/A
06/11e
15.6
3.3
1.88
0.0
5.4
N/A
Goldplat is a research client of Edison Investment Research.
Download full report
Price
10.25p
Listing
AIM
Sector
Mining
Market Cap
11m
Analyst
Charles Gibson
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