TUESDAY, 11.00AM
THE Gencor group’s gold mines managed to buck the trend in the quarter to the end of June, with all Gengold mines reporting a profit, despite the 1,8% lower rand/gold price and a 20% drop in aggregate income to R109-million. Offsetting these presssures was a 3% increase in aggregate gold production to around 10,5 tons.
Gengold MD Tom Dale said the group is considering delisting its three operating mines, Beatrix, St Helena and Evander, to house them under a single listed company. Gengold’s parent company Gencor, which is metamorphosing into a gold and platinum holding company, is monitoring investor response to the changes in its structure, and may separate the platinum holdings from the group if investors prefer.