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Highlights
- Goldplat reported 82% surge in revenue during H1 FY24 compared to the previous corresponding period.
- Expected cut in interest rates by most of the major central banks across the globe can be another major positive factor for the prices of gold.
- GDP’s stock price has surged by around 31.35% in the last three months and it has gained around 27.04% over the last six months.
Goldplat PLC (LSE:GDP) is an FTSE AIM All- share-listed gold recovery services company based in the United Kingdom. The company has its operations in South Africa and Ghana. It produces gold and other precious metals, by treating by-products of the mining industry.
In H1 FY24, the company reported 82% surge in revenue to GBP 37.40 million as compared to the revenue of GBP 20.59 million in previous corresponding period (pcp). Similarly, its operating profit was also higher at GBP 2.96 million in H1 FY24 versus GBP 2.81 million in H1 FY23. Increased mining activity in the Ghana region has been ascribed to the surge in revenue. Presently, rising inflation and turmoil in the global markets can result in safe haven buying. Gold is one of the ideal possessions. Another major positive factor for the prices of gold is the expected cut in the interest rates by major central banks across the globe.
The company is working towards enhancing shareholder value by expanding its customer base, through strategic partnerships and diversifying into processing PGM, coal and other commodities from contaminated materials.
Top 10 Shareholders:
Around 34% of the total shareholdings of the company are owned by top ten shareholders. Ooi (Martin) Trust holds the maximum number of shares with ~28.85% shareholding, followed by Hill (Stuart Mark) with ~1.79% shareholding, as depicted in the chart below:
Stock Price Performance
GDP’s stock price has surged by around 31.35% in the last three months and it has gained ~27.04% over the last six months. The stock’s 52-week low and 52-week high price stand at GBX 5.50 & 9.50, respectively.
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 05 April 2024. The reference data in this report has been partly sourced from EODHD/Others.
