JOHANNESBURG (miningweekly.com) – Aim-listed gold producer Goldplat on Thursday said Rand Refinery would pay it an undisclosed amount as a final settlement of the dispute between the two parties.
“By agreeing on a settlement, we have averted further costs and risks involved in the legal process, as well as 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,” said Goldplat CEO Gerard Kisbey-Green.
The dispute was centred on fees owing and payable to subsidiary Goldplat Recovery by Rand Refinery. At the time, Goldplat said the ultimate recovery amount was in the vicinity of R13.5-million.
The settlement brings to an end the dispute between the parties over a binding memorandum of understanding for the processing of a batch of silver sulphide material and opens the way for the revival of the long relationship with Rand Refinery, which will continue for the benefit of both parties, Goldplat said in a statement.