Business
2nd Quarter operating results update
2nd Quarter operating results update.
About this update from Goldplat Plc
[{"type":"text","content":"\n \n \n \n \n \n G\n oldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration\n \n \n \n \n \n \n \n \n 20 February 2023\n \n \n \n \n \n \n \n \n \n \n \n Goldplat plc\n \n \n \n \n ('Goldplat', the 'Group' or 'the Company')\n \n \n \n \n \n \n \n \n \n 2nd Quarter operating results update\n \n \n \n \n for the period ended 31 December 2022 (\"Q2\")\n \n \n \n \n \n \n \n \n \n G\n oldplat, the AIM listed Mining ServicesGroup, with international gold recovery operations located in South Africa and Ghana, servicing the African and South American Mining Industry, is pleased to announce an operational update for Q2.\n \n \n \n \n \n The two recovery operations continued to produce good combined operating profit during Q2, albeit down 41% on a strong Q2 period during the previous financial period, of £1,382,000 (Q2 2021: £2,356,000) (excluding listing and head office costs and foreign exchange losses).\n \n \n \n \n \n The Ghanaian operation continues to perform well as a result of the steady supply of material and achieved an operating profit for Q2 of £1,026,000 (Q2 2021: £1,012,000), however the South African operations have been impacted during the last two months of Q2 by electricity cuts by the electricity provider in the country. Notwithstanding the electricity cuts, the South African operation achieved an operating profit for Q2 of 356,000 (Q2 2021: £1,344,000).\n \n \n \n \n \n The electricity cuts we referred to in the quarterly update announced on 8 November 2022 have continued into Q3 and are expected to continue to some extent at least until the end of calendar year 2023. We have been evaluating our options to manage the situation. Generating our own electricity through the use of diesel generators or renewable energy sources currently does not prove to be feasible and we will instead focus on easing the bottlenecks created as a result of the reduction in electricity supply and increase output during periods of electricity availability through focussed management and initial capital outlay of less than\n £50,000. We will also adjust processing methods on some material to increase capacity through our plant to limit the impact that this has on production through our incineration units.\n \n \n \n \n \n Not all of our prod...