Business
Update on Preliminary Results & Sale of Kilimapesa
Update on Preliminary Results & Sale of Kilimapesa.
About this update from Goldplat Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 0101F\n Goldplat plc\n 11 November 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 11 November 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 Update on timing of the preliminary results announcement for 30 June 2020 and the sale of Kilimapesa\n \n \n \n \n \n \n \n \n Goldplat plc (“Goldplat”), the AIM quoted gold producer, with international gold recovery operations located in South Africa and Ghana and an held for sale mining operation in Kenya, is pleased to provide an update on the publication of its preliminary results for the year ended 30 June 2020.\n \n \n \n The preliminary results announcement is in the process of finalisation and will be released towards the end of November 2020 and will include restated results for the prior year. These restatements do not have a cashflow impact and result in a modest net increase in equity attributable to Goldplat shareholders. The accounts will show the results for the prior year restated for: \n \n \n \n \n \n · \n The allocation the attributable portion of the translation loss to the minority shareholders' non-controlling interest reserve. The translation loss arose on the conversion of the Goldplat Recovery (Pty) limited (\"GPL\") results to sterling during the prior year. \n \n \n · \n The recognition of the environmental and decommissioning assets for GPL and Kilimapesa which should be amortised over the life of the asset. The environmental liabilities were adequately provided for in prior years and expensed as rehabilitation costs, without raising a corresponding asset. A decommissioning asset should have been raised and then amortised over the life of the operations. \n \n \n · \n On 5 November 2018, Ashanti Gold Corp Limited (Ashanti\") exercised its option to earn a 51% shareholding in Anumso, after expending USD 1 500 000 on exploration. Additional shares were not issued to Ashanti at that time and Ashanti did not appoint any board members. A decision was made to consolidate the Anumso results as at 30 June 2019, as...