Business
Interim Results
Interim Results.
About this update from Goldplat Plc
[{"type":"text","content":"\n Interim ResultsGoldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration20 February 2017Goldplat plc ('Goldplat' or 'the Company')Interim Results Goldplat plc, the AIM listed gold producer, with international gold recovery operations located in South Africa and Ghana and a gold mine in Kenya, announces its interim results for the six months ended 31 December 2016.OverviewContinued increase in profitability with a profit before tax of £1,334,000 for the six months ended 31 December 2016 (6 months ended 31 December 2015: profit of £395,000) Overall gold and gold equivalent production for the six-month period of 21,317 ounces (six months ended 31 December 2015: 17,457 ounces)16,653 gold equivalent ounces were sold and transferred during the six months ended 31 December 2016 (six months ended 31 December 2015: 17 875 ounces) Completion of installation of the first stage of the new processing plant at Kilimapesa MineResolution of the preliminary findings by the Kenyan Revenue Authorities into specific Kilimapesa tax affairs The renewal of the gold license at Gold Recovery Ghana for the standard period of three (3) yearsChairman's StatementI am delighted to report that Goldplat has continued to improve its profitability during the period under review. Our portfolio of core assets consists of two gold recovery operations in South Africa and Ghana, recovering gold from by-products of the mining process and the Kilimapesa gold mine in Kenya. Key issues and initiatives during the period under review have been the implementation of the decision to proceed with an additional, larger, processing plant at Kilimapesa; the renewal of the gold license in Ghana; progress towards the conclusion of the dispute with the Rand Refinery; continued focus on sourcing of material including progress on the evaluation of the viability of importing material from South America, and seeking resolution on the tax claim by the Kenyan Revenue Authorities over Kilimapesa. I am pleased to report a profit before tax of £1,334,000 for the six months ended 31 December 2016. This marks a 238% increase from the £395,000 reported for the comparable six-month period ended 31 December 2015 and compares extremely favourably to the £1,942,000 we reported for the full year (FY 2016). At the operating level the profit was £1,009,000 (compared to...