JOHANNESBURG (miningweekly.com) – Aim-listed Goldplat has taken to the High Court of South Africa, Gauteng Local Division, to recover the fees owing and payable to its subsidiary Goldplat Recovery by Rand Refinery.
This followed Goldplat’s comments in April that failure to resolve the long-standing dispute between the parties over a binding memorandum of understanding for the processing of a batch of silver sulphide material would see the matter head to court.
At the time, Goldplat said the ultimate recovery amount was in the range of R13.5-million.
“We are disappointed that we have been unsuccessful in our efforts to resolve this dispute without reverting to legal action, but we remain confident of full recovery of the amounts owed to Goldplat Recovery,” said Goldplat CEO Gerard Kisbey-Green in a statement on Monday.
However, amid the dispute and impending litigation, he assured that Goldplat had traded above market expectations for the year ended June 30, and that the company remained "business as usual" despite this dispute.
Goldplat will publish its full-year result during September.