Subscribe for 12 months with recurring billing - $199

Buy 12 months of subscription time - $199


Search Gold Prices
Gold Price
[Most Recent Quotes from]
Our RSS Feed

Gold Updates by Mail

Enter your email address:

Follow Us on Twitter
« France – Leading the Way to the Demise of the West – The First to Fall | Main | Why Gold Looks Better than the S&P: Marc Faber, PhD »

Fragile gold prices swing Goldplat to H1 loss

JOHANNESBURG ( – Weakened gold prices in the latter half of 2013 dampened London-listed gold miner Goldplat’s first-half results, swinging the company to an operating loss of £694 000 for the six months ended December 31, from a profit of £2.05-million for the first half of the prior fiscal year.

“This has been a difficult period for the company as we have adapted to the substantial reduction in the gold price experienced during the period under review.

“Goldplat's income is dominated by the sale of gold and the gold price for the six months ended December 31, 2012, while the price averaged some $1 300/oz for the period under review.

“It follows that the same volume of gold sales would result in income of some $300/oz less than for the 2013 financial year,” Goldplat chairperson Brian Moritz said in a results statement on Monday.

He noted, however, that the second half of the year was “already performing more strongly” and, in line with market expectations, the company was expected to return to profitability by year-end. 

Revenue for the period decreased from £15.5-million in the six months ended December 31, 2012, to £9.6-million, which swung the miner to a loss for the period of £912 000.

Goldplat posted a loss a share of £0.54 for the six months.

To read the remainder of this article please click here.

In September 2011 the Gold Bugs index, the HUI stood at 630 as gold prices peaked, since then both have trended lower with the HUI losing about 65% of its value. The bottom has been called a number of times and after such a dramatic decline its difficult not to think that we are there now. However, as we all know the timing of any investment is crucial to its success and that is exactly what we are trying to do here, trying to pick advantageous entry and exit points. If you would like to know which stocks we are buying and selling please join us atStock Trader our premium investment service.

Subscribe for 12 months with recurring billing - $199

Buy 12 months of subscription time - $199


If you are new to investment in the precious metals sector then you can subscribe of our FREE newsletters regarding gold stockssilver stocks and uranium stocks, just click on the links and enter your email address and we will email you our articles along with other interesting posts.

Please remember to check your spam folder once you have subscribed to ensure that our verification email has not gone astray.

PrintView Printer Friendly Version

EmailEmail Article to Friend

Reader Comments

There are no comments for this journal entry. To create a new comment, use the form below.

PostPost a New Comment

Enter your information below to add a new comment.

My response is on my own website »
Author Email (optional):
Author URL (optional):
Some HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong>