THERE’S still work to do, but Gerard Kisbey-Green, previously an investment banker with JP Morgan Cazenove, has been able to turn the tide at gold recovery and mine development firm, Goldplat. The company produced a profit of £1.94m in its 2016 financial year from a £796,000 loss a year earlier largely owing to improved volumes – a 20% in gold recovery to 37,666 ounces - and the profit-making of the previously loss-making Ghanaian gold recovery plant. The firm’s Kilimapesa recovery plant in Tanzania is not profitable yet, but an expansion project was approved during the year and there are hopes for an improvement as a result. The company, which recovers gold from wood chippings and mill liners and the like, is also sourcing new clients in the Americas, especially South America. Every major South African gold producer – bar Harmony Gold – is a client of Goldplat’s. Meanwhile, it is continuing to press ahead with its gold development endeavours signing in September an earn-in option agreement with Ashanti Goldfields over the Anumso project in Ghana. More good news in December came with the Ghananian government signing a three-year gold recovery licence provided Goldplat pays a 5% royalty on all minerals recovered and commits to building an elution plant by June 2018. Goldplat appointed a new non-executive chairman in September in Matthew Robinson, a mining investment specialist who replaced Brian Moritz.
LIFE OF GERARD
Kisbey-Green is a mining engineer with experience at Rand Mines and the gold division of Anglo American. He has spent 17 years, however, in the financial markets either as a sell-side analyst or a banker. After a stint overseas, he returned as MD with Standard Bank. He was CEO of Peterstow Aquapower in 2011 before joining Toronto’s gold exploration firm, Aurigin Resources. He became Goldplat CEO in February 2015.
“It’s a good time to grow and we’ll need to raise some capital for that in time.”
- Web Address: www.goldplat.com