Poland is making a rare charge into gold.
The country added about 9 metric tons to its bullion reserves in July and August as prices dropped, International Monetary Fund data show. That is Poland’s biggest purchase since 1998 and among the largest additions by a European Union nation since then.
The National Bank of Poland declined to comment on its reserves, but economists said gold’s recent drop to the lowest price in more than a year has helped make the metal more attractive.
Goldplat plc (LON:GDP) is an AIM quoted gold producer with two market leading recovery operations in South Africa and Ghana and an operational gold mine in Kenya. The Company produced 42,857 ounces of gold during FY 2017, with 40,285 gold equivalent ounces sold and transferred, resulting in an operating profit from continuing operations of £2.9m for the year. This result does not benefit from the increased processing capacity that was achieved at the Kilimapesa Gold Mine towards the end of FY 2017, with operational profitability achieved during last two months of FY 2017. Accordingly, the Company believes it is well placed to build upon production and profitability during FY 2018.
