Business
Operational Update
Operational Update.
About this update from Goldplat Plc
[{"type":"text","content":"\n Operational Update8 August 2019Goldplat plc (‘Goldplat’ or ‘the Company’)Operational UpdateGoldplat plc, the AIM-listed gold producer, with international gold recovery operations based in South Africa and Ghana and a gold mine in Kenya, is pleased to announce an operational update for the three months ended 30 June 2019 (the ‘Quarter’).Goldplat Recovery (Pty) Ltd (‘GPL’), South AfricaDuring the Quarter GPL maintained good production levels and achieved the planned margins.Production during the last month was lower as a result of a planned trial on a stockpile batch of the lower grade strategic material which was processed for evaluation purposes.A number of initiatives to reduce the operational cost in GPL has yielded positive results thus far together with improved efficiencies as an additional benefit. This will aid in the ability to source and process lower grade material in future.Goldplat Recovery Ghana (‘GRG’), GhanaGRG production was supported by local clients during the Quarter, however was below expectations due to difficulties in sourcing sufficient material to process.GRG’s sourcing initiatives in West Africa and South America continue and the Company has made considerable inroads in developing these markets, especially in the Ivory Coast, Mali and Burkina Faso.A trial batch of material has been received for evaluation from one of the new clients in Mali and the Company is hopeful that this will result in continued future business on a larger scale.Kilimapesa Gold (‘KPG’)Operations at KPG were put on care and maintenance in May 2019.Goldplat has continued to engage with the stakeholders of KPG and substantial support has been received from a number of stakeholders, with a high percentage of them agreeing not to demand payment from KPG for the six-month period ending November 2019.To support the cash flow requirements while the mine is under care and maintenance, the remaining stockpiles, together with purchased artisanal tailings, are treated on site to reduce the cost of care and maintenance.A major positive development has been that the Kenyan Revenue Authorities started refunding the mine’s VAT claims for the first time since incorporation. This action sends a strong message to potential investors about Kenya as an investment destination and for Kilimapesa it is of tremendous importance as the funds will be appl...