Goldplat Plc · LSE:GDP

Goldplat — FY2018 Earnings Presentation

28 slides from Goldplat's earnings presentation, September 2018

  1. Slide 1: Gold Recovery & Primary Mining Corporate Presentation

    Gold Recovery & Primary Mining Corporate Presentation FINAL RESULTS September 2018

  2. Slide 2: Disclaimer

    DISCLAIMER These presentation materials and all other information (whether in writing or otherwise) which may be made available: a. May not be copied, reproduced, further distributed to any other person or published, in whole or in part, for any purpose. b. Is provided confidentially and only to ass

  3. Slide 3: Goldplat at a Glance

    GOLDPLAT AT A GLANCE GOLD PRIMARY RECOVERY MINING Profitable Growing ‘Green’ Gold Fair value of 13.0p* – a Environmental solution EBITDA for FY 2018 of to dispose of by- 160% premium to products from mining £3.6m the current share price activities *WH Ireland as at 26.09.18 Corporate Presentation -

  4. Slide 4: Key Data

    KEY DATA Market AIM Board Ticker GDP Matthew Robinson Non-Executive Chairman Share price* 5p Gerard Kisbey-Green Chief Executive Officer Shares in issue 167 million Hansie van Vreden Chief Operating Officer Market Cap* £8.4 million Werner Klingenberg Financial Director NOMAD Grant Thornton Ian Visag

  5. Slide 5: FY 2018 Results

    FY 2018 RESULTS “FY 2018 was a year during which a lot was achieved which did not translate into increased production or profitability, but Goldplat are confident that this will materialise during FY 2019” CEO, Gerard Kisbey-Green 4

  6. Slide 6: Gold Production and Sales

    GOLD PRODUCTION AND SALES Goldplat Plc Consolidated Year ending Year ending Year ending Year ending Jun-18 Jun-18 Jun-17 Jun-17 17% decrease in gold produced but Equivalent Gold Equivalent Gold Equivalent Gold Equivalent Gold 2018 produced at higher margins kg Oz kg oz Gold Equivalent Production Gol

  7. Slide 7: Financial Results

    FINANCIAL RESULTS The recovery operations delivered another strong performance achieving a profit from operating activities for the year under review of £4,313,000 (FY 2017: £4,636,000), while Kilimapesa mine continued to trade at a loss resulting in a loss for the mining and exploration segment of

  8. Slide 8: Balance Sheet

    BALANCE SHEET 2018 2017 £’000 £’000 Assets Capital Expenditure £2,015,000 Property, plant and equipment 8,023 7,181 (FY 2017: £2,213,000) Intangible assets 8,462 8,707 Proceeds from sale of shares in subsidiary 1,137 1,424 of which £992,000 was expended to complete the Non-current cash deposits - 20

  9. Slide 9: Cash Flow

    CASH FLOW 2018 2017 £’000 £’000 Cash flows from operating activities Result from continued operating activities 2,509 2,910 Result from discontinued operating activities - (1,012) Increase in cash generated from operating Adjustments for: activities to £3,243,000 Depreciation 856 650 (FY 2017: £2,92

  10. Slide 10: Gold Recovery: Gold Production with a Difference

    GOLD RECOVERY: GOLD PRODUCTION WITH A DIFFERENCE Two market leading gold recovery operations in South Africa and Ghana, recovering gold from by-products of the mining process: SOURCING MATERIALS • Africa FROM: Goldplat Recovery (Pty) Limited SA Gold Recovery Ghana Limited South America •• AFRICA SOU

  11. Slide 11: Gold Recovery: The Value Process

    GOLD RECOVERY: THE VALUE PROCESS CLIENTS MATERIALS PROCESSES PRODUCTION • Blue chip gold Includes: Goldplat process the material Revenues generated out of: producers • fine carbon through various processing • Gold doré • Platinum group • mill liners circuits to maximise recovery: • Silver doré metal

  12. Slide 12: Gold Recovery: Green Gold Producer

    GOLD RECOVERY: GREEN GOLD PRODUCER Environmental Artisanal Tailings/ “Responsible Gold” A partner of the Low Energy solution for by- Mining Clean-Up Accreditation United Nations Footprint products from Environment mines: • Re-processing • GPL & GRG Programme’s • Research underway artisanal tailings

  13. Slide 13: Gold Recovery Pty Ltd, South Africa (GPL)

    GOLD RECOVERY PTY LTD, SOUTH AFRICA (‘GPL’) A well-established operation based near Johannesburg Produced 23,567 oz Au FY 2018 (FY 2017: 29,418 oz Au)

  14. Slide 14: Gold Recovery Pty Ltd, South Africa (GPL)

    GOLD RECOVERY PTY LTD, SOUTH AFRICA (‘GPL’) KEY FOCUS IS ON SOURCING QUALITY MATERIAL TO MAINTAIN MATURE MARKET POSITION: BUILD MONETISE TAILINGS DIVERSIFY PRODUCTION TO STORAGE FACILITY ~29,000oz p.a RESOURCE • TSF has a JORC compliant • Platinum Group Metals • “Base” production level is resource o

  15. Slide 15: Gold Recovery Ghana Ltd, Ghana (GRG)

    GOLD RECOVERY GHANA LTD, GHANA (‘GRG’) Located in the free port of Tema in Ghana with a favourable tax rate of 15% Produced 6,752 oz Au FY 2018 (FY 2018: 10,031 oz Au)

  16. Slide 16: Gold Recovery Ghana Ltd, Ghana (GRG)

    GOLD RECOVERY GHANA LTD, GHANA (‘GRG’) TARGETING VOLUME GROWTH TO BECOME A HUB FOR GLOBAL RECOVERY EXPANSION SOURCE QUALITY INTERNATIONAL EXPAND MATERIAL AND EXPANSION ENVIRONMENTAL INCREASE EFFICIENIES SERVICES • Wider Africa: numerous batch • Plant was under-utilised during FY trials processed and

  17. Slide 17: Primary Gold Production

    PRIMARY GOLD PRODUCTION Building profitability and scale as a primary gold miner Kilimapesa Gold, Kenya: JORC resource of 671,446oz Au Kilimapesa Gold (Pty) Limited KENYA Assessing a number of producing / near term production projects Corporate Presentation - September 2018 16

  18. Slide 18: Kilimapesa Gold (Pty) Limited, Kenya

    KILIMAPESA GOLD (PTY) LIMITED, KENYA (‘KILIMAPESA’) A producing gold mine located in the historically productive Migori Archaean Greenstone Belt, South Western Kenya Produced 5,112 oz Au FY 2018 (FY 2017: 3,408 oz Au)

  19. Slide 19: Kilimapesa Gold (Pty) Limited, Kenya

    KILIMAPESA GOLD (PTY) LIMITED (‘KILIMAPESA’), KENYA FOCUSSED ON ACHIEVING PROFITABILITY ON A SUSTAINABLE BASIS IMPROVE GRADE AND LOWER STRATEGIC BUILD PRODUCTION COSTS PARTNER • Stage 2 expansion of new • Processing at Plant 1 stopped – • Looking to secure an investment processing plant - Plant 2 -

  20. Slide 20: Primary Mining Expansion Strategy

    PRIMARY MINING EXPANSION STRATEGY RAPIDLY GROW PRIMARY MINING PRODUCTION TO MATCH THAT OF THE RECOVERY OPERATIONS OVER A TWO YEAR PERIOD: Kilimapesa New gold ~50,000 Gold Mine mines oz Au p.a • Looking to increase production to ~50,000 ounces in two years • Seeking producing, or near-production asse

  21. Slide 21: Wider Portfolio: Anumso Gold Project, Ghana

    WIDER PORTFOLIO: ANUMSO GOLD PROJECT, GHANA (‘ANUMSO’) Goldplat has a 90% interest in Anumso, which has a current JORC compliant resource of 166,865 ounces of gold at 2.04g/t During FY 2016, Goldplat entered into an earn-in option agreement with Ashanti Gold Corp. (‘Ashanti’), which provides Ashanti

  22. Slide 22: CEO quote on FY 2019 outlook

    “Goldplat believe that many of the initiatives completed during FY 2018 and those currently in progress, will result in increased production and profitability in FY 2019” CEO, Gerard Kisbey-Green 21

  23. Slide 23: Financial Trends Data for Year Ended June

    FINANCIAL TRENDS DATA FOR YEAR ENDED 30 JUNE REVENUE GROSS PROFIT 40 6 33.8 32.91 5.2 5.07 35 31.65 31.74 4.94 5 4.78 30 GROSS PROFIT (£M) REVENUE (£M) 25 4 20.19 3.01 20 3 15 2 10 5 1 0 0 2016A 2017A 2018A 2019E 2020E 2016A 2017A 2018A 2019e 2020e EV/EBITDA EPS 4.5 4.12 0.9 0.84 4 0.8 0.71 3.5 0.7

  24. Slide 24: Growing Gold Production

    GROWING GOLD PRODUCTION DATA FOR YEAR ENDED 30 JUNE GOLD AND GOLD EQUIVALENTS PRODUCED 50000 45000 GPL, South Africa 40000 35000 Gold Equiv. Production oz 30000 25000 20000 15000 10000 Ghana Minister of Mines at GRG 5000 0 2012A 2013A 2014A 2015A 2016A 2017A 2018A 2019E 2020E Goldplat Recovery Gold

  25. Slide 25: Goldplat is Undervalued – EV/EBITDA

    GOLDPLAT IS UNDERVALUED – EV/EBITDA 180.0x 160.0x 153.0x 140.0x London-listed support services Tailings/dump peers 120.0x AIM gold producers 100.0x 80.0x 60.0x 40.0x 20.8x 20.0x 8.5x 11.2x 11.2x 7.5x 5.0x 2.7x 2.8x 3.2x 2.5x 4.3x 2.6x 2.5x 4.5x 2.6x - - - Source: Company filings and WH Ireland forec

  26. Slide 26: Investment Case

    INVESTMENT CASE A cash generative and profitable gold producer focussed on building production and global profile Undervalued relative to peers with a fair value of 13p Underleveraged with a capacity to raise non-dilutionary capital for growth projects Targeting 50,000oz Au p.a from gold recovery an

  27. Slide 27: Contact Us

    CONTACT US Gerard Kisbey-Green, CEO Email: gkisbeygreen@goldplat.com Tel: +27 (071) 8915775 PUBLIC RELATIONS BROKER NOMAD St Brides Partners Ltd WH Ireland Limited Grant Thornton UK LLP Charlotte Page / Susie Geliher James Joyce / Jessica Cave Colin Aaronson / Jen Clarke t. +44 (0) 20 7236 1177 t. +

  28. Slide 28: www.goldplat.com

    GOLDPLAT WWW.GOLDPLAT.COM

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