Business
Quarterly Operational Update - Q4 30 June 2020
Quarterly Operational Update - Q4 30 June 2020.
About this update from Goldplat Plc
[{"type":"text","content":"\n \n \n RNS Number : 2279U\n Goldplat plc\n 28 July 2020\n \n \n \n \n G\n oldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration\n \n \n \n \n \n \n \n \n 28 July 2020\n \n \n \n \n \n \n Goldplat\n \n \n \n plc\n \n \n \n \n (\n \n \n 'Goldplat',\n \n \n t\n \n \n he\n \n \n \n 'Group'\n \n \n or\n 'the\n \n \n Company')\n \n \n \n \n \n \n Quarterly Update - Update on the fourth quarter ended 30 June 2020\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n G\n oldplat plc, the AIM listed gold producer, with international gold recovery operations located in South Africa and Ghana and an underground mining operation in Kenya, is pleased to announce an operational update for the fourth quarter ended 30 June 2020. \n \n \n \n \n \n Group\n \n \n \n \n \n · \n With the recovery operations continuing to operate profitably and Kilimapesa reducing its losses by more than £1 million year on year, we expect that the Group will report a profit for the year which represents a substantial improvement over the results for last year.\n \n \n · \n Our efforts to secure a buyer or funder for our mining and exploration businesses at Kilimapesa and Anumso is beginning to bear fruit with multiple parties showing interest in the properties.\n \n \n · \n Despite the directives issued in response to the worldwide COVID-19 pandemic resulting in a loss of production of 25 days at our South African operations, the recovery operations still performed profitably during the quarter, supported by higher gold prices;\n \n \n · \n Part of our current plant facility will be modified to test the tailings storage facility ('TSF') material on a production scale to confirm test work done. We are confident that the TSF material can be reprocessed profitability and will advise the market once this is further confirmed by pilot plant test work. The reprocessing of the current TSF still remains dependent on securing final deposition and various options are currently being considered which includes the construction of a new tailing's facility.\n \n \n · \n Cash and cash equivalents as at 30 June 2020 for the Group was \n £3.2\n million.\n \...