Goldplat plc Operational Update

 
TIDMGDP 
 
 
   Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration 
 
   24 October 2017 
 
   Goldplat plc ('Goldplat' or 'the Company') 
 
   Operational Update 
 
   Goldplat plc, the AIM quoted gold producer, with international gold 
recovery operations located in South Africa and Ghana and a gold mine in 
Kenya, is pleased to announce an operational update for the three months 
ended 30 September 2017 (the 'Quarter'). 
 
   Overview 
 
 
   -- 95% increase on the same period in 2016 in gold equivalent ounces sold 
      and transferred during the Quarter to 14,374 (30 September 2016: 7,382 
      ounces) 
 
   -- All operations were profitable during the Quarter at an operational level 
 
   -- 133% increase on the same period in 2016 in gold equivalent ounces 
      produced at Kilimapesa Gold Mine to 1,449 (30 September 2016: 623 ounces) 
      - on track to produce in excess of 5,800oz targeted during FY 2018 
 
   -- Good progress was made in areas of strategic focus including: 
 
          -- Sourcing sufficient suitable material for the carbon in leach 
             ('CIL') circuits at Goldplat Recovery (Pty) Ltd in South Africa 
             ('GPL') 
 
          -- Ensuring that sufficient ore is sourced from the underground mine 
             for processing through Plant 2 at Kilimapesa 
 
          -- Sourcing sufficient by-product material to keep Gold Recovery 
             Ghana Limited ('GRG') operating to capacity. 
 
          -- The erection of an elution plant at GRG during the Quarter 
 
 
 
 
Goldplat Plc                                                      Year        Year 
Consolidated    1st Qtr     1st Qtr     1st Qtr     1st Qtr      ending      ending 
                 Sep-17      Sep-17      Sep-16      Sep-16      Jun-17      Jun-17 
               Equivalent  Equivalent  Equivalent  Equivalent  Equivalent  Equivalent 
                  Gold        Gold        Gold        Gold        Gold        Gold 
                   Kg          Oz          kg          oz          kg          oz 
Gold 
Equivalent 
Production 
Goldplat 
 Recovery             236       7,588         169       5,418         915      29,418 
Gold Recovery 
 Ghana                 37       1,190          96       3,088         312      10,031 
Kilimapesa 
 Gold                  45       1,449          19         623         106       3 408 
Total                 318      10,227         284       9,129       1,333      42,857 
Gold 
Equivalent 
Sold 
Goldplat 
 Recovery             285       9,170         133       4,280         702      22,570 
Gold Recovery 
 Ghana                 81       2,604          42       1,349         259       8,327 
Kilimapesa 
 Gold                  38       1,224          18         574         100       3,215 
Total                 404      12,998         193       6,203       1,061      34,112 
Gold 
Equivalent 
Transferred 
Goldplat 
 Recovery              43       1,376          37       1,179         192       6,173 
Total                  43       1,376          37       1,179         192       6,173 
Gold 
Equivalent 
Sold and 
Transferred 
Goldplat 
 Recovery             328      10,546         170       5,459         894      28,743 
Gold Recovery 
 Ghana                 81       2,604          42       1,349         259       8,327 
Kilimapesa 
 Gold                  38       1,224          18         574         100       3,215 
Total                 447      14,374         230       7,382       1,253      40,285 
 
 
   Goldplat Recovery (Pty) Ltd ('GPL'), South Africa 
 
 
   -- 40% increase year on year ('YoY') of gold and gold equivalents produced 
      during the Quarter to 7,588 ounces (Q1 2016: 5,418 ounces) 
 
   -- 93% increase YoY of gold sold and transferred to 10,546 ounces during the 
      Quarter (Q1 2016: 5,459 ounces) 
 
   -- Good progress has been made in sourcing material for processing through 
      the CIL circuits with more than 12 months of material available - work 
      continues to optimise recoveries from this material 
 
   -- Legal proceedings with regards to the Rand Refinery dispute continue 
 
   -- Good progress is being made in securing a pit for later tailings 
      deposition; the Department of Mineral Resources has advised the best 
      route and we are monitoring progress from all stakeholders 
 
 
   Gold Recovery Ghana Limited ('GRG'), Ghana 
 
 
   -- GRG produced 1,190 ounces of gold and gold equivalents, with 2,604 ounces 
      of gold being sold on GRG's own account during the Quarter 
 
   -- The erection of a 3-tonne elution plant is progressing well with 
      commissioning scheduled to begin towards the end of December 2017 
 
   -- Discussions continue with the Ghanaian Government regarding a project to 
      clean-up and process contaminated artisanal tailings and the construction 
      of a mobile gold concentrator pilot plant in South Africa progressed 
      well. The plant is expected to be commissioned in Ghana during November 
      2017 
 
   -- Good progress has been made during the Quarter to increase the 
      operational footprint and sourcing of material from outside of Ghana - 
      targeting shipments from elsewhere in Africa and South America, with 
      regular and sustainable shipments now being received from both areas. 
 
   -- Approximately 80% of the on-site tailings material has now been removed 
      from the Ghana plant site, freeing up significant land for expansion and 
      significantly reducing environmental liabilities. 
 
 
   Kilimapesa Gold ('KPG'), Kenya 
 
 
   -- KPG produced 1,449 ounces of gold and gold equivalents, with 1,224 ounces 
      of gold sold on KPG's own account during the Quarter 
 
   -- Planned production rates at Plant 2 are now being achieved on a regular 
      basis and plant optimisation and cost cutting is now in progress 
 
   -- Production build-up from Kilimapesa mine is progressing well to meet the 
      requirements of Plant 2 
 
   -- Permission has been granted to export gravity concentrates quarterly 
      (previously only authorised to export once per year), which should 
      improve inventory turnaround 
 
   -- National elections caused modest production disruptions during the 
      Quarter (with employees having to take time off to vote), and the ongoing 
      uncertainty surrounding further presidential elections continues to 
      impact the reliability of deliveries to the mine 
 
   -- All agreements with land owners and the local community have been 
      successfully renegotiated in anticipation of the eventual closure of 
      Plant 1. 
 
   -- We are pleased to note the appointment of a Kenyan national as Plant 
      Manager at Plant 2, replacing the South African expatriate who has 
      completed his contract at KPG 
 
 
   Anumso Gold Project ('Anumso') 
 
 
   -- Shortly following the end of the Quarter, Ashanti Gold Corp announced 
      encouraging progress on exploration work undertaken at Anumso 
 
 
   Gerard Kisbey-Green, CEO of Goldplat, commented: 
 
   "With operational profitability achieved at all operations and good 
progress being made on our strategic objectives, I am very pleased with 
the results for the Quarter. With production rates at Kilimapesa now 
sustainable at planned levels for Stage 2, focus will be on cost 
reduction. At GRG good progress is being made in our efforts to grow 
production through sourcing material from West Africa and South America, 
and we expect commissioning of the elution plant scheduled to begin 
towards the end of December 2017." 
 
   ** ENDS ** 
 
   For further information, visit www.goldplat.com, follow on Twitter 
@GoldPlatPlc or contact: 
 
 
 
 
Gerard Kisbey-Green        CEO Goldplat plc          Tel: [phone] 
Colin Aaronson / Jen       Grant Thornton UK LLP     Tel: [phone] 
Clarke/ Daniel Bush        (Nominated Adviser) 
Andrew Raca / Justin       VSA Capital Limited       Tel: [phone] 
McKeegan                   (Broker) 
Charlotte Page / Susie     St Brides Partners Ltd    Tel: [phone] 
Geliher                    (Financial PR) 
 
 
   The information contained within this announcement is deemed to 
constitute inside information as stipulated under the Market Abuse 
Regulations (EU) No. 596/2014. Upon the publication of this announcement, 
this inside information is now considered to be in the public domain. 
 
   About Goldplat 
 
 
   Goldplat plc, is an AIM quoted 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. 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Goldplat plc via Globenewswire 
 
 
 
 

(END) Dow Jones Newswires

October 24, 2017 02:30 ET (06:30 GMT)

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