Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration
17 June 2015
Goldplat plc ('Goldplat' or 'the Company')
Trading Update
Goldplat plc, the AIM listed African gold producer, announces that significant progress has been achieved at its gold recovery businesses in South Africa (Goldplat Recovery (Pty) Limited 'GPL') and Ghana (Gold Recovery Ghana Limited 'GRG') to counter the direct and indirect consequences of its third party refining partner, Rand Refinery in South Africa, being unable to process certain by-product material for the Company. This inability to process has severely impacted both profits and cashflows of the Company during the past nine months.
Goldplat CEO Gerard Kisbey-Green said, "Since my appointment as CEO in February 2015, I am pleased with the progress we have achieved in order to return Goldplat to positive cashflow and profitability. The team have worked hard on finding alternative ways to process backlogged material and mitigate the reliance on our third party refiner, Rand Refinery, including increasing elution capabilities at GPL and GRG which will enable us to produce and sell gold bullion rather than relying on third parties for final processing. Numerous other improvement initiatives such as a new wash-plant, new mill, tailings facility upgrades and extensions to name a few are all progressing very well and Goldplat will report on further progress of these initiatives in the near future. As a consequence of the steps we have taken and the initiatives we are implementing, I am confident with the outlook for all areas of our business and look forward to keeping the market updated on our progress going forward."
Investor Conference Call
In line with the Company's active investor relations policy, Goldplat are pleased to announce that it is holding an investor call open to all shareholders of the Company which will be held at 12.00 noon UK time on 25 June 2015. The conference call will be hosted by CEO Gerard Kisbey-Green and during the call he will discuss operational and corporate developments made by the Company and will answer queries from shareholders.
To participate in this conference call please register at info@stbridespartners.co.uk. Upon registration full conference call details will be sent.
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For further information visit www.goldplat.com or contact:
Gerard Kisbey-Green, CEO | Goldplat plc | Tel: +27 (82) 671 2078 |
Ewan Leggat/Katy Birkin | SP Angel Corporate Finance LLP | Tel: +44 (0) 20 3470 0470 |
Andrew Raca/Justin McKeegan | VSA Capital | Tel: + 44 (0)20 3005 5000 |
Felicity Winkles /Charlotte Heap | St Brides Partners Ltd | Tel: +44 (0) 20 7236 1177 |
Goldplat plc, is an AIM-listed, debt free gold recovery services company with two market leading operations in South Africa and Ghana. The Company's strategy is focussed on utilising its cash flow generated from flagship gold recovery operations in Africa to self-fund sustainable growth and expansion of niche gold recovery business model. The Company also has a small gold mining and exploration portfolio in Kenya, Burkina Faso and Ghana and is evaluating various opportunities to create value or monetise these assets.