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Goldplat plc

Goldplat looking for fresh start as Rand Refinery dispute ends

Resolution of the dispute will put an end to the extensive management time taken up by the process to date

Silver processing
The two parties agreed in December on an arbitration process to settle the dispute which related to a contract to process silver

Shares in Goldplat plc (LON:GDP) surged after Rand Refinery agreed to pay an undisclosed sum to settle a dispute with Goldplat Recovery.

The two parties agreed in December on an arbitration process to settle the dispute which related to a contract to process silver, and last month they announced agreement on a final settlement.

READ: Goldplat and Rand Refinery agree planned final settlement following dispute

The settlement agreement has now been signed, bringing to an end what has, in the words of Goldplat’s chief executive officer, Gerard Kisbey-Green, been a “very disruptive” dispute.

“By agreeing on a settlement we have not only averted further costs and risks involved in the legal process, but will put an end to the extensive management time taken up by the process to date. We look forward to the resumption of business with Rand Refinery on the basis of a fresh start with renewed energy and focus in areas beneficial to both parties," Kisbey-Green said.

Shares in Goldplat were up 5.2% at 7.625p on the news.

Quick facts: Goldplat plc

Price: £0.03

Market: AIM
Market Cap: £5.78 m
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