Good afternoon,
VSA Capital issues BUY recommendation and sets an increased target price 84% above current SP, in its morning miner release this morning.
The note follows Goldplat�s announcement that it has received USD1.4 million in respect of backlog gold material sold to Aurubis and entered into a pre-payment agreement with Aurament International, the precious metals trader, to accelerate the receipt of its funds from Aurubis AG going forward. With the funds being directed towards the advancement of its gold recovery operation in Ghana, VSA Capital Analyst Oliver O�Donnell believes: �the agreement will enable stronger working capital management for GDP, in our view, as the facility can be used as and when required. Indeed, the announcement states that two major suppliers will now be paid whilst a portion of the funds will be used for the expansion projects at the Ghanaian operations.�
Please let me know if you would like to chat about the above.
Many thanks,
Grace-Anne
Grace-Anne Marius
St Brides Partners Ltd
3 St Michael�s Alley, London, EC3V 9DS
www.stbridespartners.co.uk
Tel: +44 (0) 207 236 1177 | Mob: +44 (0) 770 101 2307 | Twitter: @StBrides1
Goldplat is a gold producing company based in South africa.
Its main asset in production is KILIMAPESA in Kenya and its main exploration property is BANKA in Ghana.