Business
Quarterly Update
Quarterly Update.
About this update from Goldplat Plc
[{"type":"text","content":"\n \nRNS Number : 5579A Goldplat plc 22 January 2020 \n\nGoldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration\n \n \n22 January 2020\n \nGoldplat plc\n('Goldplat', the 'Group' or 'the Company')\n \nQuarterly Update - Update on the six months ended 31 December 2019\n \n \n \n \nGoldplat 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 six months ended 31 December 2019. \n \nThe following events have contributed to the improved performance during the six months -\n \n· South African operations performed strongly and achieved an operating profit for the six months ended 31 December 2019 of £2,601,000 (31 December 2018: £752,028). A pre-treatment facility has been added at a cost of £70,000 which will enable the company to treat lower grade material.\n· Performance at the Ghana operation improved substantially as the Company's marketing and sourcing efforts gains momentum and achieved an operating profit for the six months ended 31 December 2019 of £148,000 (operating loss - 31 December 2018: £241,449). \n· Operating losses at Kilimapesa have been reduced, year on year, for the six months ended 31 December 2019 to £295,000 (Operating loss 31 December 2018: £686,845) while we have continued to hold discussions with funding partners to re-capitalize this valuable asset.\n· During the six-month period, £523,000 of VAT reclaims have been paid by the Kenyan Revenue Authorities.\n· Cost reductions and improved operational efficiencies throughout the Group continued to manifest during this quarter. \n· The Group benefitted from the higher gold spot price.\n· Improvement in plant operational efficiencies in South Africa have not only reduced costs but improved gold recovery.\n· Some of the cost savings have been invested into material sourcing initiatives and increasing physical security in South Africa.\n·&nbs...