Tuesday, June 19, 2018
Gerard Kisbey-Green

Gerard Kisbey-Green

Goldplat

GERARD Kisbey-Green is to settle out of court with Rand Refinery regarding the recovery of the R13.5m that Goldplat believes it is owed over a silver sulphide contract. Rand Refinery believed it was owed an unspecified amount to cover its losses because of Goldplat’s “failure to perform”. Kisbey-Green won’t be held to ransom. As a result, Goldplat now has working arrangements with four different refineries. Since Kisbey-Green’s appointment as CEO of Goldplat in February 2015 the share price has doubled. Shareholders like the fact that he has managed to turn all the operations into profit-makers. By way of example: Goldplat’s Kilimapesa Gold mine in Kenya made a profit last year, for the first time since it was acquired ten years ago, after a second plant was added and costs were cut. Kisbey-Green expects growth from mining will be faster than from the recovery business and he is on the lookout for mines in Africa that are at, or close to, production. Good luck to him because so is everyone else. The search for sources of gold-bearing material has taken Goldplat as far as South America and across Africa. One of its most exciting opportunities is in Ghana, where it is talking to the West-African government about a project to clean up artisanal tailings. They include mercury, which could provide a new source of revenue.

LIFE OF GERARD

Kisbey-Green grew up in the mining town of Welkom, so mining engineering was an obvious career. After 28 years working for, among others, Anglo American and Rand Mines Group, he became an analyst and then a corporate financier. He worked for JPMorgan Chase, Investec and Standard Bank. But he evidently missed the operational side of the business.