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Highlights

  • Goldplat’s H1FY24 revenue demonstrated a year-on-year growth of 81.6%
  • The company reported a cash position of GBP 3.1 million at Q1FY25 end

Goldplat PLC (LSE:GDP) is a UK-based gold recovery services company. It has operations in Ghana and South Africa. The company is engaged in the production of gold and precious metals by processing mining industry by-products.

In the first half of the financial year 2024 (H1FY24), GDP reported revenue of GBP 37.40 million, reflecting an 81.6% year-on-year increase compared to GBP 20.59 million in H1FY23. This growth was driven by higher mining activity in the Ghana region, leading to increased supplies and the sale of excessive inventory buildup. Profit from operations rose to GBP 2.96 million in H1FY24, a 5.3% increase from GBP 2.81 million in H1FY23. This improvement was attributed to higher revenues, which partially offset the increased cost of sales during the reported period.

Further, in H1FY24, the company demonstrated a higher ROE of 7% and a lower debt/equity ratio of 0.06x compared to the industry median of 2.9% and 0.49x, respectively.

Recent Business Update

As of 12 November 24, Goldplat reported a cash position of GBP 3.1 million at the end of Q1FY25. This cash balance is expected to support working capital needs in Ghana and other capital requirements.

Company Outlook

Goldplat's strategic outlook focuses on enhancing shareholder value by expanding its customer base across Southern Africa, West Africa, South America, and beyond. The company aims to establish key strategic partnerships within the industry while diversifying into the processing of PGMs, coal, and other commodities from contaminated material and leveraging its role in the circular economy.

Top 10 Shareholders:

The top 10 shareholders of GDP together hold approximately 31.89% of the total shareholdings. The largest shareholder is Ooi (Martin) Trust, holding approximately 28.85% of the shares, followed by Moritz (Brian Michael) with a stake of around 0.83%, as shown in the chart below:

Stock Information

The stock price of GDP has increased by approximately 3.12% over the past three months but has declined by around 13.72% in the last six months. Its 52-week low and high are GBX 5.50 and 8.70, respectively, with the stock currently trading below the average of these values. As of 02 December, the stock closed at GBP 6.60.

Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 02 December 2024. The reference data in this report has been partly sourced from EODHD/Others.