Business
Goldplat plc : Miscellaneous
Goldplat plc : Miscellaneous.
About this update from Goldplat Plc
[{"type":"text","content":"\n Goldplat plc : MiscellaneousGoldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration13 June 2014Goldplat plc ('Goldplat' or 'the Company')Operations and Trading UpdateGoldplat plc, the AIM listed gold producer in Africa, announces an operations update for its two market leading gold recovery businesses in South Africa and Ghana and its Kilimapesa Gold Project in Kenya. Trading UpdateGoldplat continues to operate profitably in the second half of FY 2014 ('H2 2014'), and the operating profit is expected to show a substantial improvement compared to the previous six months ended 31 December 2013 ('H1 2014'), which resulted in an operating loss of £694,000. Whilst it is anticipated that H2 2014 will more than eliminate the H1 2014 loss, and that the full year results will show an overall operating profit, it is expected that this operating profit will be materially below market expectations. The primary reasons for this are the short-term and temporary suspension of toll treatment activity and a delay in sales of fine carbon contracts at the Company's Gold Recovery operation in Ghana; and the continuing losses incurred at the Kilimapesa gold mine in Kenya whilst the Company identifies a joint venture partner to increase the milling capacity. The Company's South African gold recovery plant continues to maintain robust and profitable operations during H2 2014.Goldplat's CEO Ian Visagie said, \"We continue to remain focused on building our cash generative, un-hedged, debt free gold recovery company in Africa for the benefit of all shareholders. In line with this, our primary gold recovery operations in South Africa and Ghana continue to trade profitably, and as a result we remain highly confident that our final results for the year ended 30 June 2014 will still report an overall operating profit. Whilst temporary problems incurred at Ghana have impacted anticipated profit levels during H2 2014, I am confident that growth in our recovery operations will continue in the near term, and believe our ability to remain profitable in these circumstances underpins the strength and robustness of our diverse mining service offering.\" Operations UpdateGold Recovery Ghana Ltd ('GRG') - GhanaGRG's gold recovery operation, which enjoys a tax free status until 2016, is located in the free port o...