Business
4th Quarter Operating Results Update
4th Quarter Operating Results Update.
About this update from Goldplat Plc
[{"type":"text","content":"\n\nGoldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration\n27 August 2024\nGoldplat plc\n('Goldplat' or the 'Company')\n4th Quarter Operating Results update for period ended 30 June 2024\nGoldplat plc, (AIM:GDP) the AIM listed Mining Services Group, 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 the 4th quarter ended 30 June 2024 (\"Q4\"), of the financial year just ended.\nThe two recovery operations achieved a combined operating profit for the quarter of £4,360,000 (excluding listing and head office costs and foreign exchange losses) which represents a 267% increase against Q4 in the previous period (Q4 2023 - £1,188,000).\nDuring Q4 the two recovery operations achieved a combined profit before tax of £2,960,000 (Q4 2023 loss before tax - £589,000) after they incurred £410,000 in interest costs (Q4 2024 - £799,000) and £1,045,000 in foreign exchange losses (Q4 2024 - £764,000) which mainly related to trading activities.\nGhana experienced a strong Q4, achieving an operating profit of £3,740,000 (Q4 2023 - £438,000), driven by strong supplies in Ghana and South America.\nSouth Africa's Q4 performance continue to be impacted by a reduction in supply from current mining operations. South Africa achieved an operating profit of £620,000 (Q4 2023 - £750,000).\nAs part of the year end process, we are reviewing the royalty's receivable on the sale of Kilimapesa for potential impairment. A tax accrual of GBP321,000 will also be raised relating to the tax liability in Kenya.\nThe following events have contributed to the reduced Q4 operating results:\nGold Recovery Ghana\n· In Q4, the combined gravity and flotation circuit continued to perform well and will assist in extracting value from large volumes of lower grade fine carbon material received in Ghana.\n \n· The supply of material from South America and Ghana has remained steady and we continue to have positive engagements with clients in South America and West Africa.\n \n· As per the announcement dated 17 June 2024, the focus and preference of the authorities in Ghana is on local beneficiation of concentrate. The transition in...