Business
Preliminary Results
Preliminary Results.
About this update from Goldplat Plc
[{"type":"text","content":"\n Preliminary ResultsGoldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration18 September 2017Goldplat plc ('Goldplat', the 'Group' or 'the Company')Preliminary ResultsGoldplat plc, the AIM listed gold producer, announces its preliminary results for the year ended 30 June 2017 ('FY 2017').Operations / CorporateSignificant increase in operating profitability from continuing operations in FY 2017 following the successful turnaround strategy at Kilimapesa Gold Mine, meaning by the end of the last quarter of the year, all operations were operating profitablyIncreased gold equivalent production highlights the continued and steady growth of the business - Goldplat produced 42,857 ounces of gold during the year, marking a 13.7% increase on 2016 (2016: 37,666 ounces), which follows a 23.3% increase from 2015 Recovery operations produced 39,449 gold equivalent ounces (2016: 35,661 ounces)Kilimapesa Mine produced 3,408 ounces of gold (2016: 2,005 ounces) - the increased processing capacity was only seen towards the end of FY 2017 meaning further upside expected with in excess of 5,800oz targeted during FY 2018Actual sales were 40,285 gold equivalent ounces (2016: 40,763 ounces) 34,112 gold equivalent ounces sold for own account (2016: 27,538 ounces)6,173 gold equivalent ounces transferred to clients (2016: 13,225 ounces) Committed to maintaining active growth strategy to build production and profitability: Gold recovery: Work well advanced to increase geographical reach, by establishing Ghana as an international recovery hub, with material already being imported from elsewhere in Africa and South America and opportunities identified in North AmericaOpportunity to diversify metal focus - platinum group metals trials continuing in South Africa Potential to maximise environmental value by offering mining \"clean-up\" services processing by-products with contaminants such as mercury - investigating a major project with the Ghanaian Government to assist in the clean-up of artisanal mining tailingsPrimary mining: Focussed on driving increased production at Kilimapesa Targeting expansion by considering opportunities to gain interests in producing or near-production assetsNon-core exploration portfolio: TSX quoted Ashanti Gold Corp has the option to earn up to 75% of Goldplat's interest in the Anumso Gold Project in Ghana by ex...