Business
Quarterly Update to 30 September 2021
Quarterly Update to 30 September 2021.
About this update from Goldplat Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1237R\n Goldplat plc\n 03 November 2021\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 3 November 2021\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 Quarterly Update to 30 September 2021\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, is pleased to announce an operational update for the first quarter of the current financial year (\"Q1\") ended 30 September 2021. \n \n \n \n \n \n The recovery operations achieved the same combined operating profit for Q1 2021 as for Q1 2020 of £1,403,000\n \n (Q1, 30 September 2020: £1,403,000), although the average gold price in USD decreased 6.7% for Q1 2021. \n \n \n \n \n \n The Ghana operations continue to perform well as a result of the steady supply of material and achieved an operating profit for Q1 of £839,000 (Q1, 30 September 2020: £280,000). The South African operation achieved an operating profit for Q1 of \n £564,000 (Q1, 30 September 2020: £1,123,000), reflecting a significantly lower gold price in Rand terms in the period. \n \n \n \n \n \n The following events have contributed to the Q1 operating results:\n \n \n \n \n \n Ghana\n \n \n ·\n The continued supply from current clients in Ghana and Mali was further supported by batches of material received from South America.\n \n \n ·\n Our engagement with mine management and government officials on different levels has continued, with the aim of increasing our footprint to ensure regular supply. Specific progress in this regard has been made during the quarter in Cote d'Ivoire.\n \n \n · \n To build on our market strategy in South America over the last 5 years, a decision has been made to expand the opportunities by establishing a processing and storage site in Brazil, at an initial cost of USD300,000, to capture part of the lower-grade material market which is not feasible to expo...